Operational Imbalance definition

Operational Imbalance means actual physical deliveries of Gas less Gas quantities that are scheduled to be delivered. Therefore, Operational Imbalance shall be positive for over- deliveries, i.e., deliveries greater than scheduled deliveries. Operational Imbalance shall be negative for under-deliveries, i.e., deliveries less than Scheduled Quantities.
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Operational Imbalance means the difference between the actual quantity of Gas that flowed through a Welded Point on a Day and the Scheduled Quantity for that Day (under-injection into or over-taking out of the Maui Pipeline by the Welded Party relative to that Day’s Scheduled Quantity being a negative Operational Imbalance and over-injection into or under-taking out of the Maui Pipeline relative to that Day’s Scheduled Quantity being a positive Operational Imbalance).
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Operational Imbalance means (a) with respect to JPM CCC, an imbalance (stated in Barrels) between (i) the quantity of Oil tendered by JPM CCC at an upstream point on a Transporter’s pipeline system during a period of time and (ii) the quantity of Oil actually redelivered by the Transporter at the Delivery Point during the applicable period of redelivery, and (b) with respect to Purchaser, an imbalance (stated in Barrels) between (i) the quantity of Oil requested by Purchaser at the Delivery Point during a period of time and (ii) the quantity of Oil actually delivered by the Transporter to Purchaser at the Delivery Point during the applicable period of delivery, and in each case shall include all adjustments, shortages or overages reported by the Transporter in question due to errors in measurement, variations in rate of flow or any other reason, affecting the Transporter; provided, however, an Operational Imbalance shall not exist or be recognized to the extent an imbalance is the result of either JPM CCC’s or Purchaser’s failure during any period to nominate, deliver or take delivery (or cause to be nominated or delivered or delivery to be taken of) quantities of Oil equal to the Scheduled Amount.
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Examples of Operational Imbalance in a sentence

  • The difference between the sum of the Scheduled Quantities during a calendar month and the total actual quantity delivered at the Delivery Point(s) during the calendar month shall be the Monthly Operational Imbalance.

  • For the purpose of this Agreement, delivery or receipt of any Gas to resolve an Operational Imbalance is not subject to transportation charges by either Party.

  • Transporter shall make the estimated Daily Variances and Monthly Operational Imbalance available to Balancing Party by the end of the third Business Day after each Gas Day.

  • Any daily variance resulting from a Balancing Party's assistance pursuant to this Section 3.4 shall not be considered in the calculation of such Balancing Party's Monthly Operational Imbalance.

  • As soon as practicable following the close of each Month, Transporter will send Balancing Party a statement setting forth the Operational Imbalance existing at the end of the prior Month.

  • Any variance or imbalance between the quantity of Gas delivered at the Delivery Point(s) and the quantity of Gas received at the Receipt Point(s) (less the Retention Volume) during a given Day (the "Daily Imbalance") will be recorded in a gas imbalance account, the cumulative balance of which shall be the "Cumulative Operational Imbalance".

  • As soon as practicable following the close of each Month, Transporter will send Balancing Party a statement setting forth the Monthly Operational Imbalance existing at the end of the prior Month.

  • Any Monthly Operational Imbalance shall be corrected in accordance with the provisions of Section 8 of Rate Schedule LMS-MA of Transporter's FERC Gas Tariff unless the Parties mutually agree otherwise.

  • Operational Imbalances cashed out pursuant to Rule 30 will be removed from the Interconnector’s Operational Imbalance and the information will be promptly communicated to the Interconnector.

  • Operational Imbalances that may arise from time to time as the result of a measurement correction for a prior period shall be resolved as follows: (i) by adding or subtracting the measurement correction to the Interconnector’s then existing cumulative Operational Imbalance, or (ii) on a "cash-out" basis, or (iii) by some other mutually agreed to method.


More Definitions of Operational Imbalance

Operational Imbalance has the meaning set forth in Section 6.14.
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Operational Imbalance means: in respect of a Physical Welded Point, the difference between the actual quantity of Gas that flowed through that Welded Point on a Day and the Scheduled Quantity for that Day (under-injection into or over-taking out of the Maui Pipeline by the Welded Party relative to that Day’s Scheduled Quantity being a negative Operational Imbalance and over-injection into or under-taking out of the Maui Pipeline relative to that Day’s Scheduled Quantity being a positive Operational Imbalance); and in respect of the Trading Hub Receipt Point, the difference between the Deemed Measured Quantity for a Day and the Scheduled Quantity for that Day. 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.
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Related to Operational Imbalance

  • Imbalance means the difference between Deliveries to KUB for a Customer and Redeliveries by KUB to the Customer.

  • Imbalances means over-production or under-production or over-delivery or under-delivery with respect to Hydrocarbons produced from the Properties, regardless of whether the same arise at the wellhead, pipeline, gathering system, transportation system, processing plant, or any other location, including any imbalances under gas balancing or similar agreements, production handling agreements, processing agreements, and/or gathering or transportation agreements.

  • Reasonable and Prudent Operator means a person seeking in good faith to perform its contractual obligations and, in the process of doing so and in the overall conduct of its whole undertaking exercising that degree of diligence, skill, prudence and foresight which can reasonably and ordinarily be expected from a skilled and experienced operator engaged in the same type of undertaking under the same or similar circumstances complying with all applicable Laws, and any reference to the standard of a Reasonable and Prudent Operator means such degree of diligence, skill, prudence and foresight as aforesaid.

  • Production Facilities (7 9) means "production equipment" and specially designed software therefor integrated into installations for "development" or for one or more phases of "production".

  • Material Gas Imbalance means, at any time, with respect to all Gas Balancing Agreements to which any Credit Party is a party or by which any Mineral Interest owned by any Credit Party is bound, a net gas imbalance at such time to all such Credit Parties in excess of, in the aggregate, three percent (3%) of the Borrowing Base then in effect.

  • Operational requirements means the need to ensure that the Agency is to be operated as effectively, efficiently and economically as possible.

  • Meet-Point Billing (MPB) refers to the billing associated with interconnection of facilities between two or more LECs for the routing of traffic to and from an IXC with which one of the LECs does not have a direct connection. In a multi-xxxx environment, each Party bills the appropriate tariffed rate for its portion of a jointly provided Switched Exchange Access Service.

  • Operational Costs means costs and expenses incurred by the Managers on behalf of the Owners to operate and maintain the Vessel including Communication Expenses and EDP Expenses;

  • Slug loading means any pollutant, including oxygen demanding pollutants, released in a discharge at a flow rate and/or pollutant concentration as to cause interference in the POTW.

  • Interconnection Facilities means the Transmission Owner Interconnection Facilities and the Customer Interconnection Facilities.

  • Operational Control means Security monitoring, adjustment of generation and transmission resources, coordinating and approval of changes in transmission status for maintenance, determination of changes in transmission status for reliability, coordination with other Balancing Authority Areas and Reliability Coordinators, voltage reductions and load shedding, except that each legal owner of generation and transmission resources continues to physically operate and maintain its own facilities.

  • Day-ahead Scheduling Reserves Resources means synchronized and non-synchronized generation resources and Demand Resources electrically located within the PJM Region that are capable of providing Day-ahead Scheduling Reserves.

  • Commissioning Date means that date when construction of the contemplated Project is complete, and the Maintenance Term commences;

  • Environmental impact statement means a detailed written statement as required by section 102(2)(C) of the Act.

  • Scheduled Commissioning Date or “SCD” of the Project shall mean [Insert Date];

  • Generation Interconnection Facilities Study means a Facilities Study related to a Generation Interconnection Request.

  • Production facility means a facility in California at which gasoline or CARBOB is produced. Upon request of a producer, the executive officer may designate, as part of the producer's production facility, a physically separate bulk storage facility which (A) is owned or leased by the producer, and (B) is operated by or at the direction of the producer, and (C) is not used to store or distribute gasoline or CARBOB that is not supplied from the production facility.

  • Imbalance Energy has the meaning set forth in the CAISO Tariff.

  • railway operational procedures means procedures specified under any access agreement (as defined in the Railways Act 1993) or station lease;

  • Production Burdens means any royalties (including lessor’s royalties), overriding royalties, production payments, net profit interests or other similar interests that constitute a burden on, and are measured by or are payable out of, the production of Hydrocarbons or the proceeds realized from the sale or other disposition thereof (including any amounts payable to publicly traded royalty trusts), but excluding Taxes and assessments of Governmental Entities.

  • Self-service storage facility or "facility" means any real property designed or used for the purpose of renting or leasing individual storage space to tenants who are to have access to that space for the purpose of storing and removing personal property.

  • Transportation Facilities means any physical facility that moves or assist in the movement of people or goods including facilities identified in OAR 660-012-0020 but excluding electricity, sewage, and water systems.

  • INTER-CONNECTION POINT/ DELIVERY/ METERING POINT means a single point at 220kV or above, where the power from the Project(s) is injected into the identified ISTS Substation (including the dedicated transmission line connecting the Projects with the substation system) as specified in the RfS document. Metering shall be done at this interconnection point where the power is injected into. For interconnection with grid and metering, the WPDs shall abide by the relevant CERC/ SERC Regulations, Grid Code and Central Electricity Authority (Installation and Operation of Meters) Regulations, 2006 as amended and revised from time to time.

  • Planned Downtime means planned downtime for upgrades and maintenance to the Services scheduled in advance of such upgrades and maintenance.

  • Enrollee point-of-service cost-sharing means amounts paid to

  • Transboundary movement means any movement of hazardous wastes or other wastes from an area under the national jurisdiction of one State to or through an area under the national jurisdiction of another State or to or through an area not under the national jurisdiction of any State, provided at least two States are involved in the movement;