Price Responsive Demand definition

Price Responsive Demand shall have the meaning provided in the Reliability Assurance Agreement.

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Price Responsive Demand or “PRD” shall mean end-use customer load registered by a PRD Provider pursuant to Reliability Assurance Agreement, Schedule 6.1 that have, as set forth in more detail in the PJM Manuals, the metering capability to record electricity consumption at an interval of one hour or less, Supervisory Control capable of curtailing such load (consistent with applicable RERRA requirements) at each PRD Substation identified in the relevant PRD Plan or PRD registration in response to a Maximum Generation Emergency declared by the Office of the Interconnection (prior to 2022/2023Delivery Year) or a Performance Assessment Interval that triggers a PRD performance assessment (effective with 2022/2023 Delivery Year), and a retail rate structure, or equivalent contractual arrangement, capable of changing retail rates as frequently as an hourly basis, that is linked to or based upon changes in real-time Locational Marginal Prices at a PRD Substation level and that results in a predictable automated response to varying wholesale electricity prices.

Price Responsive Demand means the predictable response to changes in wholesale electricity prices of electricity demand by consumers who are served at retail rates or prices that can vary based on wholesale electricity prices or market conditions.

Examples of Price Responsive Demand in a sentence

• Price Responsive Demand shall have the meaning provided in the Reliability Assurance Agreement.

• Supervisory Control shall mean the capability to curtail, in accordance with applicable RERRA requirements, load registered as Price Responsive Demand at each PRD Substation identified in the relevant PRD Plan or PRD registration in response to a Maximum Generation Emergency declared by the Office of the Interconnection.

• Share of Zonal Nominal PRD Value Committed in Third Incremental Auction = Nominal PRD Value for such registration/Total Zonal Nominal PRD Value of all Price Responsive Demand registered by the PRD Provider of such registration *Zonal Nominal PRD Value committed in the Third Incremental Auction by the PRD Provider of such registration.

• A Load Serving Entity PRD Provider will receive a LSE PRD Credit for each approved Price Responsive Demand registration that is effective and applicable to load served by such Load Serving Entity on a given day.

• For the 2022/2023 Delivery Year and subsequent Delivery Years, the factor equal to FZWNSP/FZPLDY is eliminated in the calculation of the LSE PRD Credit Where: Share of Zonal Nominal PRD Value Committed in Base Residual Auction = Nominal PRD Value for such registration/Total Zonal Nominal PRD Value of all Price Responsive Demand registered by the PRD Provider of such registration *Zonal Nominal PRD Value committed in the Base Residual Auction by the PRD Provider of such registration .

• PRD Provider shall mean (i) a Load Serving Entity that provides PRD; or (ii) an entity without direct load serving responsibilities that has entered contractual arrangements with end- use customers served by a Load Serving Entity that satisfy the eligibility criteria for Price Responsive Demand.

• Maximum Emergency Service Level or MESL of Price Responsive Demand shall mean the level, determined at a PRD Substation level, to which Price Responsive Demand shall be reduced during the Delivery Year when a Maximum Generation Emergency is declared and the Locational Marginal Price exceeds the price associated with such Price Responsive Demand identified by the PRD Provider in its PRD Plan.

• PRD Curve shall mean a price-consumption curve at a PRD Substation level, if available, and otherwise at a Zonal (or sub-Zonal LDA, if applicable) level, that details the base consumption level of Price Responsive Demand and the decreasing consumption levels at increasing prices.

• PRD Reservation Price shall mean an RPM Auction clearing price identified in a PRD Plan for Price Responsive Demand load below which the PRD Provider desires not to commit the identified load as Price Responsive Demand.

• Price Responsive Demand Plan or PRD Plan shall mean a plan, submitted by a PRD Provider and received by the Office of the Interconnection in accordance with Schedule 6.1 of this Agreement and procedures specified in the PJM Manuals, claiming a peak demand limitation due to Price Responsive Demand to support the determination of such PRD Provider’s Nominal PRD Value.

More Definitions of Price Responsive Demand

Price Responsive Demand or “PRD” shall mean end-use customer load registered by a PRD Provider pursuant to Schedule 6.1 of the PJM Reliability Assurance Agreement that have, as set forth in more detail in the PJM Manuals, the metering capability to record electricity consumption at an interval of one hour or less, Supervisory Control capable of curtailing such load (consistent with applicable RERRA requirements) at each PRD Substation identified in the relevant PRD Plan or PRD registration in response to a Maximum Generation Emergency declared by the Office of the Interconnection, and a retail rate structure, or equivalent contractual arrangement, capable of changing retail rates as frequently as an hourly basis, that is linked to or based upon changes in real-time Locational Marginal Prices at a PRD Substation level and that results in a predictable automated response to varying wholesale electricity prices.

Price Responsive Demand or “PRD” shall mean end-use customer load registered by a PRD Provider pursuant to Reliability Assurance Agreement, Schedule 6.1 that have, as set forth in more detail in the PJM Manuals, the metering capability to record electricity consumption at an interval of one hour or less, Supervisory Control capable of curtailing such load (consistent with applicable RERRA requirements) at each PRD Substation identified in the relevant PRD Plan or PRD registration in response to a Maximum Generation Emergency declared by the Office of the Interconnection (prior to 2022/2023Delivery Year) or a Performance Assessment Interval that

Price Responsive Demand or “PRD” shall mean end-use customer load registered by a PRD Provider pursuant to Reliability Assurance Agreement, Schedule 6.1 that have, as set forth in more detail in the PJM Manuals, the metering capability to record electricity consumption at an

Price Responsive Demand. Formatted: Indent: First line: 0" Price Responsive Demand or PRD shall mean end-use customer load registered by a PRD Provider pursuant to Schedule 6.1 of the PJM Reliability Assurance Agreement that have, as set forth in more detail in the PJM Manuals, the metering capability to record electricity consumption at an interval of one hour or less, Supervisory Control capable of curtailing such load (consistent with applicable RERRA requirements) at each PRD Substation identified in the relevant PRD Plan or PRD registration in response to a Maximum Generation Emergency declared by the Office of the Interconnection, and a retail rate structure, or equivalent contractual arrangement, capable of changing retail rates as frequently as an hourly basis, that is linked to or based upon changes in real-time Locational Marginal Prices at a PRD Substation level and that results in a predictable automated response to varying wholesale electricity prices.

Price Responsive Demand or “PRD” shall mean end-use customer load registered by a PRD Provider pursuant to Reliability Assurance Agreement, Schedule 6.1 of the PJM Reliability Assurance Agreement that have, as set forth in more detail in the PJM Manuals, the metering capability to record electricity consumption at an interval of one hour or less, Supervisory Control capable of curtailing such load (consistent with applicable RERRA requirements) at each PRD Substation identified in the relevant PRD Plan or PRD registration in response to a Maximum Generation Emergency declared by the Office of the Interconnection (prior to 2022/2023 Delivery Year) or a Performance Assessment Interval that triggers a PRD performance assessment (effective with 2022/2023 Delivery Year), and a retail rate structure, or equivalent contractual arrangement, capable of changing retail rates as frequently as an hourly basis, that is linked to or based upon changes in real-time Locational Marginal Prices at a PRD