Measured Quantity definition

Measured Quantity in respect of a Day means the total quantity of Gas in MMBtu delivered by Sellers at the Delivery Point to all offtakers, as determined in accordance with Clause 12 and Exhibit 4.

Measured Quantity means, for a particular period of time, the quantity of gas that, according to the relevant measurement equipment, has physically flowed across the Interconnection Point in that time period.

Measured Quantity means the quantity of gas that, according to the measurement equipment from the transmission system operator, has physically flowed across an interconnection point per time period;

Examples of Measured Quantity in a sentence

• A negative Operational Imbalance shall exist at the Trading Hub Receipt Point where the Deemed Measured Quantity for that Day is less than the Scheduled Quantity for that Day and a positive Operational Imbalance shall exist where the Deemed Measured Quantity for that Day exceeds the Scheduled Quantity for that Day.

• Notwithstanding any other provision of this Operating Code, for the purposes of calculating Operational Imbalance, Running Operational Imbalance and Excess Daily Imbalance in relation to a Notional Welded Point the quantity of Gas that on a Day has flowed through the Trading Hub Delivery Point and the Trading Hub Receipt Point, respectively, shall be the Deemed Measured Quantity for that Day.

• Notwithstanding any other provision of this Operating Code, for the purposes of calculating Operational Imbalance, Running Operational Imbalance and Excess Daily Imbalance in relation to a Notional Welded Point the quantity of Gas that on a Day has flowed through the applicable Trading Hub Delivery Point and the corresponding Trading Hub Receipt Point, respectively, shall be the Deemed Measured Quantity of that Notional Welded Point for that Day.

• A negative Operational Imbalance shall exist at a Trading Hub Receipt Point where its Deemed Measured Quantity for that Day is less than its Scheduled Quantity for that Day and a positive Operational Imbalance shall exist where its Deemed Measured Quantity for that Day exceeds its Scheduled Quantity for that Day.

• For the purposes of determining the Daily Shrinkage Quantity for a Day in respect of the NTS, National Grid NTS may determine the Total Daily System Quantity (referred to in TPD Section N1.4.2) either by adjusting the Measured Quantity at an Interconnection Point by the conversion factor in paragraph 1.5.6 or by using a measured quantity determined on the basis of the Code Reference Conditions.

More Definitions of Measured Quantity

Measured Quantity means that quantity within the approved Limits of the Works, measured in the field.

Measured Quantity means the quantity of gas that a transmission system operator determines from its measurement equipment to have physically flowed across an interconnection point per time period;

Measured Quantity is the actual quantity of each individual Item of Unit Price Work completed in accordance with the Contract Documents, as measured by Contractor and approved by Owner, in units of measure specified in the Schedule of Fixed Prices. Measured Quantities shall not include unused quantities or quantities for unauthorized or unapproved Work or for Work that is Defective.

Measured Quantity means the total quantity of Gas, measured in MMBtu, to have flowed through the Measurement Equipment for that Point during that Day.

Measured Quantity means the total quantity of Gas, measured in MMBtu, through the Measurement Equipment for a particular Point during the Day;

Measured Quantity means, for a particular period of time, the quantity of gas that, according to the measurement equipment, operated by DESFA, has physically flowed across the Entry Point in that time period.

Measured Quantity means the quantity of Gas in MMBtu that is determined in accordance with this Code to have flowed through the Point on any Day.