Examples of Peak Market Activity in a sentence
Prepayments shall not affect Peak Market Activity unless otherwise agreed to in writing pursuant to this Credit Policy.
Except as explicitly provided below, advance payments shall not serve to reduce the Participant’s Peak Market Activity for the purpose of calculating credit requirements.Example: After 10 days, and with 5 days remaining before the bill is due to be paid, a Participant approaches its $4.0 million Working Credit Limit.
Peak Market Activity shall be the greater of the initial Peak Market Activity, as explained below, or the greatest amount invoiced for the Participant’s transaction activity for all PJM markets and services, excluding FTR Net Activity, in any rolling one, two, or three week period, ending within a respective semi-annual period.
Peak Market Activity for Participants will be determined semi-annually beginning in the first complete billing week in the months of April and October.
Participants who do not qualify for an Unsecured Credit Allowance will be required to provide Financial Security based on their Peak Market Activity, as provided below.
All Peak Market Activity calculations shall take into account reductions of invoice values effectuated by early payments which are applied to reduce a Participant’s Peak Market Activity as contemplated by other terms of the Credit Policy; provided that the initial Peak Market Activity shall not be less than the average value calculated using the weeks for which no early payment was made.
The imputed Peak Market Activity reduction attributed to any payment may not exceed the amount of Unsecured Credit for which the Participant is eligible.
However, Peak Market Activity shall not exceed the greatest amount invoiced for the Participant’s transaction activity for all PJM markets and services, excluding FTR Net Activity, in any rolling one, two or three week period in the prior 52 weeks.
A PJM Participant or Applicant that has an insufficient Unsecured Credit Allowance to satisfy its Peak Market Activity will be required to provide Financial Security such that its Unsecured Credit Allowance and Financial Security together are equal to its Peak Market Activity in order to secure its transactional activity in the PJM Market.
RELIABILITY PRICING MODEL AUCTION CREDIT REQUIREMENTS Settlement during any Delivery Year of cleared positions resulting or expected to result from any Reliability Pricing Model Auction shall be included as appropriate in Peak Market Activity, and the provisions of this Attachment Q shall apply to any such activity and obligations arising therefrom.