Offered Capacity means the highest offer level, expressed in energy unit allocable per hour on IP1 in direction from Romania to Hungary as well as in direction from Hungary to Romania, and IP2 in direction from Hungary to Austria within the scope of the Binding Open Season Procedure, starting from the Target Commercial Operation Date minus 10% of the highest offer level, expressed in energy unit per hour, which is reserved for potential short term capacity booking.
Offered Capacity means the number of Units being made available in the respective Unit Validity Times in an Auction;
Offered Capacity has the meaning given in Section B paragraph 1.2 of the IUK Access Code; “Ofgem” means the Office of Gas and Electricity Markets;
Examples of Offered Capacity in a sentence
Where a modification of previously submitted Bids results in exceeding the Offered Capacity, the modification shall be rejected and the previously registered Bids will stand.
If a Bid Quantity, or a quantity calculated as a sum of the Bid Quantity for several Bids submitted for the same Auction, by a Registered Participant exceeds the Offered Capacity announced in the final Auction Specification, this Bid or these Bids shall be completely rejected.
The Offered Capacity for the Shadow Auctions and the information related to the time schedule will be published in the Auction Specification on the Allocation Platform’s Website as specified in Article 19 in order to give the opportunity to Participants to update their Bids according to Articles 20, 21 and 22.
If a default Bid Quantity or a quantity calculated as a sum of the Bid Quantity for several default Bids submitted for the same hour, Bidding Zone border and direction by a Registered Participant exceeds the relevant Offered Capacity, the Bids with the lowest Bid Price shall be rejected one (1) by one (1) until thetotal allowed Bid Quantity is lower than or equal to the Offered Capacity.
Any residual available Offered Capacity is then allocated to the next highest ranked valid Bid(s).
More Definitions of Offered Capacity
Offered Capacity means the offer level, expressed in energy unit allocable per hour on IPs in direction:
Offered Capacity means Cross Zonal Capacity offered by the Allocation Platform in an Auction; Participation Agreement means the agreement, by which the Parties undertake to comply with the terms and conditions for Cross Zonal Capacity Allocation as contained in these Allocation Rules; Party/ Parties means the Allocation Platform and/or a Registered Participant referred to individually as Party or collectively as Parties; Physical Transmission Right means a right entitling its holder to physically transfer a certain volume of electricity in a certain period of time between two Bidding Zones in a specific direction; Product Period means the time and date on which the right to use the Long Term Transmission Right commences and the time and date on which the right to use the Long Term Transmission Right ends; Redispatching means a measure activated by one or several system operators by altering the generation and/or load pattern in order to change physical flows in the transmission system and relieve a physical congestion; Reduction Period means a period of time, i.e. specific calendar days and/or hours, within the Product Period in which Cross Zonal Capacities with a reduced amount of MW are offered taking into account a foreseen specific network situation (e.g. planned maintenance, long-term outages, foreseen balancing problems).
Offered Capacity or “Offered Power” shall mean the schedule (in MW) as declared by the developer at the Delivery Point (ISTS Substation) for any time-block of the day as defined in the Grid Code.
Offered Capacity means the number of Units being made available in the
Offered Capacity means Cross Zonal Capacity offered by the Allocation Platform in an Auction; Participation Agreement means the agreement by which the Parties undertake to comply with the terms and conditions for Cross Zonal Capacity Allocation as contained in these Allocation Rules; Party/ Parties means the Allocation Platform and/or a Registered Participant referred to individually as Party or collectively as Parties; Physical Transmission Right means a right entitling its holder to physically transfer a certain volume of electricity in a certain period of time between two Bidding Zones in a specific direction; Pre-Bid means a pair of Bid Quantity and Bid Price offered by a Registered Participant participating in an Auction before the bidding gate opens; Product Period means the time and date on which the right to use the Intraday Transmission Right commences and the time and date on which the right to use the Intraday Transmission Right ends; Redispatching means a measure activated by one or several system operators by altering the generation and/or load pattern in order to change physical flows in the transmission system and relieve a physical congestion; Registered Participant means a market participant which entered into the Participation Agreement with the Allocation Platform. Rights Document means a document containing the information of the maximum allocated Physical Transmission Rights that can be nominated by a market participant per Bidding Zone border per day per hour and per direction, taking into account the volume of rights initially acquired, and any possible curtailments which occurred before the issuance of the Rights Document. Transmission means the transport of electricity on the extra high-voltage and high-voltage interconnected system with a view to its delivery to final customers or to distributors, but does not include supply; Use It Or Lose It (UIOLI) means an automatic application by which the underlying Cross Zonal Capacity of the non-nominated Physical Transmission Rights are not available for further Capacity Allocation and whereby Physical Transmission Right holders that do not nominate do not have rights to receive a payout; Working Day means the calendar days from Monday to Friday, with the exception of public holidays as specified on the website of the Allocation Platform;
Offered Capacity means the cross zonal capacity offered by the transmission capacity allocator to the market;
Offered Capacity has the meaning given in Section B paragraph 1.2 of the Interconnector Access Code;