Storage Energy definition
Examples of Storage Energy in a sentence
The Coordinating Group shall establish the FLCC of each Party for the current Operating Year using the Final Regulation that most closely approximates the computed Storage Energy of the preceding July 31.
Notwithstanding the foregoing, amounts of Contract Capacity, Storage Capacity, Contract Energy, Storage Energy, and Other Electric Products shall be rounded in accordance with the rounding methodology utilized by the Balancing Authorit(y)(ies) applicable to the Delivery Portion for settlement purposes.
The Coordinating Group shall compute the Storage Energy of the Coordinated System for each Final Regulation that contains part or all of the current Operating Year within the Critical Period.
Seller shall (1) obtain and maintain all Governmental Approvals as may be required for the performance of Seller’s Cost Scope and (2) make available all Contract Energy, Storage Energy, and other Products that are physical in nature in a form (and with qualities) compliant with the Laws applicable to the Energy Financial Delivery Point and applicable OP Delivery Points, respectively.
Risk of loss related to (i) the Contract Energy and Storage Energy provided to Buyer shall transfer from Seller to Buyer at the Energy Financial Delivery Point, (ii) other Products that are physical in nature provided to Buyer shall transfer from Seller to Buyer at the OP Delivery Point and (iii) other Products that are not physical in nature upon receipt by Buyer of title thereto and custody thereof according to this Agreement.
The CRCs shall be ordered and designated by number (i.e., first, second, etc.) on the basis of the decreasing Coordinated System’s Storage Energy indicated by such CRCs at the beginning of such Operating Year.
If the actual Storage Energy is less than the lowest Storage Energy computed from the applicable Final Regulations, the Coordinating Group shall establish as the FLCC of each Party for the current Operating Year the FLCC of such Party for the current Operating Year computed using the Final Regulation with the lowest computed Storage Energy.
If procedure 9(b)-3., Actual Energy Regulation, is rescinded, the Coordinating Group shall compare the amount(s) of total Storage Energy computed in paragraph (1) of this subsection 6(m) to the Storage Energy in the reservoirs of the Coordinated System as of the preceding July 31.
Not later than August 1 of each Operating Year, the Coordinating Group shall establish the FLCC of each Party most recently calculated under subsection 6(j), Final Regulation; provided if the Coordinated System fails to reach 98 percent of its total Storage Energy by the end of July of the preceding Operating Year, as soon as practicable after August 1 of the current Operating Year the FLCC of each Party shall be re-established retroactively using the following procedures.
If any Contract Capacity, Storage Capacity, Contract Energy, Storage Energy, or physical Other Electric Products provided by Seller hereunder fails to conform to the specifications therefor set forth in the Electric Interconnection Agreement and applicable Laws, then Seller, upon obtaining knowledge thereof, immediately shall exercise reasonable best efforts to correct such non-conformity and the obligations set forth in Section 9.7 shall apply with respect to such non-conformity.