Reserve Penalty Factor definition

Reserve Penalty Factor means the cost, in $/MWh, associated with being unable to meet a specific reserve requirement in a Reserve Zone or Reserve Sub-zone. A Reserve Penalty Factor will be defined for each reserve requirement in a Reserve Zone or Reserve Sub-zone.

Reserve Penalty Factor means the cost, in $/MWh, associated with being unable to meet a specific reserve requirement in a Reserve Zone or Reserve Sub-zone. A Reserve Penalty Factor will be defined for each reserve requirement in a Reserve Zone or Reserve Sub-zone. Reserve Sub-zone:

Reserve Penalty Factor means the cost, in $/MWh, associated with being unable to meet a specific reserve requirement in a Reserve Zone or Reserve Sub-zone. A Reserve Penalty Factor will be defined for each reserve requirement in a Reserve Zone or Reserve Sub-zone. Reserve Sub-zone: Any of those geographic areas wholly contained within a Reserve Zone, consisting of a combination of a portion of one or more Control Zone(s) as designated by the Office of the Interconnection in the PJM Manuals, relevant to provision of, and requirements for, reserve service. Reserve Zone: Any of those geographic areas consisting of a combination of one or more Control Zone(s), as designated by the Office of the Interconnection in the PJM Manuals, relevant to provision of, and requirements for, reserve service.

Examples of Reserve Penalty Factor in a sentence

• If the Office of the Interconnection has initiated in a Reserve Zone or Reserve Sub-zone either a Voltage Reduction Action as described in the PJM Manuals or a Manual Load Dump Action as described in the PJM Manuals, the 5-minute clearing price shall be the Reserve Penalty Factor for the Primary Reserve Requirement for that Reserve Zone or Reserve Sub-zone.

• The Reserve Penalty Factor for the Synchronized Reserve Requirement shall be $850/MWh. The Reserve Penalty Factor for the Extended Primary Reserve Requirement shall be $300/MWh. By no later than April 30 of each year, the Office of the Interconnection will analyze Market Participants’ response to prices exceeding $1,000/MWh on an annual basis and will provide its analysis to PJM stakeholders.

• When the Synchronized Reserve Requirement or Extended Synchronized Reserve Requirement in a Reserve Zone or Reserve Sub-zone cannot be met, the 5-minute clearing price shall be at least greater than or equal to the applicable Reserve Penalty Factor for the Reserve Zone or Reserve Sub-zone, but less than or equal to the sum of the Reserve Penalty Factors for the Synchronized Reserve Requirement and Primary Reserve Requirement for the Reserve Zone or Reserve Sub-zone.

• The Reserve Penalty Factor for the Synchronized Reserve Requirement shall be $850/MWh. The Reserve Penalty Factor for the Extended Synchronized Reserve Requirement shall be $300/MWh. By no later than April 30 of each year, the Office of the Interconnection will analyze Market Participants’ response to prices exceeding $1,000/MWh on an annual basis and will provide its analysis to PJM stakeholders.

• The Reserve Penalty Factor for the 30-minute Reserve Requirement shall be $850/MWh. The Reserve Penalty Factor for the Extended 30-minute Reserve Requirement shall be $300/MWh.

• All three arbitrators shall be present at all hearings and participate in deliberations, but the decision of the majority of the arbitrators will be final and binding.

• When the Synchronized Reserve requirement in a Reserve Zone or Reserve Sub-zone cannot be met, the 5-minute clearing price shall be at least greater than or equal to the Synchronized Reserve Penalty Factor for the Reserve Zone or Reserve Sub-zone, but less than or equal to the sum of the Synchronized Reserve Penalty Factor and the Primary Reserve Penalty Factor for the Reserve Zone or Reserve Sub-zone.

• If the Office of the Interconnection has initiated in a Reserve Zone or Reserve Sub-zone either a voltage reduction action as described in the PJM Manuals or a manual load dump action as described in the PJM Manuals, the 5-minute clearing price shall be the sum of the Primary Reserve Penalty Factor and the Synchronized Reserve Penalty Factor for that Reserve Zone or Reserve Sub-zone.

• The Reserve Penalty Factor for the Primary Reserve Requirement shall be $850/MWh. The Reserve Penalty Factor for the Extended Primary Reserve Requirement shall be $300/MWh.

• However, these data say nothing about how often those resources with lost opportunity cost offers that exceeded $850/MWh would have been selected to provide Synchronized Reserve, even if the Reserve Penalty Factor were set at $2,000/MWh(i.e., how often PJM actually went economically short of reserves at a $850/MWh Reserve Penalty Factor when it would have been able to procure sufficient reserves if the Reserve Penalty Factor were $2,000/MWh).