Variable Price Transaction definition
Variable Price Transaction means a Transaction Confirmation for Full Requirements Service with spot energy pricing, as shown on such confirmation. For the current month of each Trading Day MtM credit exposures calculation, the On-Peak Estimated Energy Quantity and Off-Peak Estimated Energy Quantity will be calculated for the month, as described above, and prorated for the remaining On-Peak Hours and Off Peak Hours remaining in the month as follows: On-Peak Hours remaining in the current month (including the first calendar day following the Trading Day) divided by total On-Peak Hours in the current month Off-Peak Hours remaining in the current month (including the first calendar day following the Trading Day) divided by total Off-Peak Hours in the current month In calculating the MtM Exposure Amount for each Transaction, the following parameters are set on the Transaction Date: On-Peak Initial ▇▇▇▇ ▇▇▇▇▇ Off-Peak/On-Peak Price Ratio Off-Peak Initial ▇▇▇▇ ▇▇▇▇▇ MW-Measure: initial Capacity PLC Per Tranche On-Peak Estimated Energy Quantity Per MW-Measure for each of the twelve calendar months Off-Peak Estimated Energy Quantity Per MW-Measure for each of the twelve calendar months Number of awarded Tranches In calculating the MtM Exposure Amount for each Transaction, the following parameters are set each Trading Day subsequent to the Transaction Date: On-Peak Energy Forward Price Off-Peak Energy Forward Price Current Capacity PLC Per Tranche On-Peak Estimated Energy Quantity Off-Peak Estimated Energy Quantity