Examples of State Subsidy in a sentence
This section only applies to new Generation Capacity Resources that do not receive or are not entitled to receive a State Subsidy, meaning that such resources are not Capacity Resources with State Subsidy.
A Capacity Resource with State Subsidy may be exempt from the Minimum Offer Price Rule under this subsection 5.14(h-1) in any RPM Auction if the Capacity Market Seller certifies to the Office of Interconnection, in accordance with the PJM Manuals, that the Capacity Market Seller of such Capacity Resource elects to forego receiving any State Subsidy for the applicable Delivery Year no later than thirty (30) days prior to the commencement of the offer period for the relevant RPM Auction.
For over 40% of observations in our sample, the GSE’s AVM indicated that the property’s value was more than 5% below the contract price.Also, note the asymmetry in the Figure 3 distribution just above and below the mass point of ã = : 25.6% of appraised values exceeded the contract price by no more than 1% (the part of the distribution just above ã = looks relatively smooth), but only 0.7% of appraised values fell below the contract price, although within 1%.
Cleared Capacity Resources with State Subsidy for which there is no default MOPR Floor Offer Price provided in accordance with this section, including hybrid resources, must seek a resource- specific value determined in accordance with the resource-specific MOPR Floor Offer Price process below to participate in an RPM Auction.
A Capacity Market Seller intending to submit a Sell Offer in any RPM Auction for a New Entry Capacity Resource with State Subsidy or a Cleared Capacity Resource with State Subsidy below the applicable default MOPR Floor Offer Price may, at its election, submit a request for a resource-specific exception for such Capacity Resource.
Such Sell Offer is permissible because it is consistent with the competitive, cost-based, fixed, net cost were the resource to rely solely on revenues exclusive of any State Subsidy.
Once a Capacity Market Seller has certified a Capacity Resource as a Capacity Resource with a State Subsidy, the status of such Capacity Resource will remain unchanged unless and until the Capacity Market Seller (or a subsequent Capacity Market Seller) that owns or controls such Capacity Resource provides a certification of a change in such status, the Office of the Interconnection removes such status, or by FERC order.
Process for Establishing a Capacity Resource with a State Subsidy.
To the extent a Sell Offer in any RPM Auction is based on a Capacity Resource with State Subsidy that qualifies for any of the exemptions defined in Tariff, Attachment DD, sections 5.14(h-1)(4)-(8), the Sell Offer for such resource shall not be limited by the MOPR Floor Offer Price, unless otherwise specified.
To the extent a Sell Offer in any RPM Auction for any Delivery Year is based on a Capacity Resource with State Subsidy for which the Capacity Market Seller obtains, prior to the submission of such offer, a resource-specific exception, such offer may include an offer price below the default MOPR Floor Offer Price applicable to such resource type, but no lower than the resource-specific MOPR Floor Offer Price determined in such exception process.