Operational Balancing Account definition

Operational Balancing Account means an account between adjacent transmission system operators, to be used to manage steering differences at an interconnection point in order to simplify gas accounting for network users involved at the interconnection point;
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Operational Balancing Account means an account between the Parties, to be used to manage steering differences at the IP and which will be operated in accordance with [Allocation Section].
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Operational Balancing Account or “OBA” shall mean an account, to be used to manage steering differences between the TARGETED VALUE for the GCP and the actual GAS FLOW at the GCP in order to simplify gas accounting for Shippers involved at the GCP.
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Examples of Operational Balancing Account in a sentence

  • Current arrangements in respect of IPs are that User Agents submit allocations to National Grid NTS on behalf of NTS Users for both entry and exit which, in aggregate, equal the measured gas flow4.Within the INT Code, the default allocation rule is for the Adjacent TSOs to allocate gas to Users equal to their Nominated Quantities (commonly referred to as ‘allocate as nominate’) with the Steering Difference allocated to an Operational Balancing Account (OBA) between them.

  • In such circumstances, the Transporter and the Adjacent Transporter shall allocate the difference between metered quantities and the aggregate of Confirmed Quantities to an Operational Balancing Account (OBA) operated by the Transporters, whereby any underdelivery or overdelivery in respect of a given Gas Day is addressed by scheduling a corrective underdelivery or overdelivery in respect of the subsequent Gas Day.

  • Any resumption of the Operational Balancing Account will apply from the start of the Gas Day agreed between the Parties as being the Gas Day on which the default allocation regime will apply again.

  • The Parties agree to the establishment and operation of an Operational Balancing Account at the Interconnection Point.

  • SDG&E and SoCalGas referred to an Interconnection and Operational Balancing Account in the open access tariffs but, in compliance with Resolution G-3376, did not include a draft agreement in these advice letters.

  • This is done within the flexibility limits of the Operational Balancing Account.

  • The arrangements in paragraph 2 apply because of the existence at each Interconnection Point of an Operational Balancing Account.

  • Where (in accordance with the measurement provisions of the Interconnection Agreement) a revision is made, on any Day (N) up to and including the Exit Close-out Date, to the Measured Quantity for Day D, the amount by which the Measured Quantity for Day D is revised shall be taken into account in calculating the Cumulative Steering Difference for Day N+1 (and/or for Days subsequent to Day N+1) in accordance with the provisions of the Interconnection Agreement governing the Operational Balancing Account.

  • For the avoidance of doubt, notwithstanding paragraph 2 and the Operational Balancing Account, any revision made after the Exit Close-out Date to the Measured Quantity in respect of a physical flow of gas out of the NTS at an Interconnection Point shall be subject to Individual CSEP Reconciliation in accordance with TPD Section E6.

  • For the first Gas Day (d) of operation of the Operational Balancing Account, the OBA Balance for that Gas Day (OBAd) shall be equal to the Daily Unbalanced Quantity for that Gas Day (DUQd).


More Definitions of Operational Balancing Account

Operational Balancing Account means an arrangement (forming part of the Interconnection Agreement) between National Grid NTS and the Adjacent TSO pursuant to which (except on Non-OBA Days) Steering Differences are managed operationally between the TSOs and the quantity of gas comprising the Cumulative Steering Difference is treated as borrowed by one TSO from the other TSO;
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Operational Balancing Account means an account between two adjacent TSOs, to be used to manage steering differences at an IP in order to facilitate the allocation of gas to Network Users in accordance with Confirmed Quantities
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Operational Balancing Account or “OBA” means the account between the Matching Operator and Initiating Operator, to be used to manage Steering Differences at the Entry Point in order to simplify gas accounting for Shippers involved at the Entry Point, in accordance to Article 4
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Operational Balancing Account. (OBA”) Shall mean an account between the Parties to which differences between aggregated Confirmed Quantities and Metered Quantities (also known as the steering differences) at the IP Faxe shall be continually credited or debited (in the cumulative quantity).
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Related to Operational Balancing Account

  • Distribution Account Deposit Date As to any Distribution Date, 12:30 p.m. Pacific time on the Business Day immediately preceding such Distribution Date.

  • Operating Account means a demand deposit account maintained at the Funding Bank in Borrower's name and designated for funding that portion of each Eligible Loan not funded by a Warehousing Advance made against that Eligible Loan and for returning any excess payment from an Investor for a Pledged Loan or Pledged Security.

  • Reserve Account Draw Amount means, for any Payment Date, an amount equal to the lesser of (a) the Available Funds Shortfall Amount, if any, for such Payment Date and (b) the amount of cash or other immediately available funds on deposit in the Reserve Account (excluding any net investment earnings) on such Payment Date; provided, however, that if such Payment Date is the Redemption Date, the “Reserve Account Draw Amount” shall mean an amount equal to the amount of cash or other immediately available funds on deposit in the Reserve Account on the Redemption Date.

  • Sub-Servicing Account An account established by a Sub-Servicer which meets the requirements set forth in Section 3.08 and is otherwise acceptable to the Master Servicer.

  • Servicing Account The account or accounts created and maintained pursuant to Section 3.09.

  • Funding Account has the meaning assigned to such term in Section 4.01(h).

  • Billing Account is the checking account from which all Service fees will be automatically debited.

  • Certificate Distribution Account has the meaning assigned to such term in the Trust Agreement.

  • Financing Accounts means, collectively, the Credit Account and the Grant Account (or, where the context so requires, either of the Credit Account or the Grant Account).”

  • Reserve Account Excess Amount means, with respect to any Payment Date, an amount equal to the excess, if any, of (a) the amount of cash or other immediately available funds in the Reserve Account (excluding any net investment earnings) on that Payment Date, after giving effect to all deposits to and withdrawals from the Reserve Account on such Payment Date, over (b) the Specified Reserve Account Balance with respect to such Payment Date.

  • Operating Accounts shall have the meaning ascribed to it in Section 4.03.A.

  • Note Distribution Account means the account designated as such, established and maintained pursuant to Section 5.1.

  • Yield Supplement Account means the account designated as such, and established and maintained pursuant to Section 4.01.

  • Distribution Accounts Collectively, the Upper-Tier REMIC Distribution Account, the Lower-Tier REMIC Distribution Account, the Excess Interest Distribution Account (and in each case any subaccount thereof), all of which may be subaccounts of a single Eligible Account.

  • Certificate Payment Account means the account established and maintained as such pursuant to Section 4.1(c).

  • Collection Account means the account designated as such, established and maintained pursuant to Section 5.1.

  • Funding Accounts has the meaning assigned to such term in Section 4.01(h).

  • Debt Service Account means the Debt Service Account for General Obligation Temporary Notes, Series 2017-1 (within the Bond and Interest Fund) created pursuant to Section 501 hereof.

  • Servicing Accounts The account or accounts created and maintained pursuant to Section 3.08.

  • Interest Collection Account A sub-account of the Collection Account created and maintained on the books and records of the Securities Intermediary entitled “Interest Collection Account” in the name of the Borrower and subject to the Lien of the Collateral Agent for the benefit of the Secured Parties.

  • Principal Accumulation Account Balance means, for any date of determination, the principal amount, if any, on deposit in the Principal Accumulation Account on such date of determination.

  • Accumulation Account The account designated as such, established and maintained pursuant to Section 5.01(a)(iii) of the Trust Sale and Servicing Agreement.

  • Targeted Accumulation Reserve Subaccount Deposit means, with respect to any Distribution Date during the Accumulation Reserve Funding Period, an amount equal to (i) 0.5% of the Outstanding Dollar Principal Amount of the Class A(2022-2) Notes as of the close of business on the last day of the related Due Period or (ii) any other amount designated by the Calculation Agent on behalf of the Issuer.

  • Construction Account means the account by that name established in the FGR Subordinated Indebtedness Fund pursuant to the Second Resolution.

  • Debt Service Reserve Account shall have the meaning assigned to such term in the Depositary Agreement.

  • Specified Reserve Account Balance means, for any Payment Date, an amount equal to 1.00% of the Pool Balance as of the Cut-Off Date; provided, however, on any Payment Date after the Notes are no longer Outstanding following payment in full of the principal and interest on the Notes, the “Specified Reserve Account Balance” shall be $0.