Credit Limit verification. 1. Upon submission by a Registered Participant of a Bid or set of Bids to the Auction Tool the Allocation Platform shall check whether the maximum payment obligations (MPO) connected with that Registered Participantβs registered Bid(s) calculated according to paragraphs 4 and 5 of this Article at the time of Bid(s) submission exceed the Credit Limit. If the maximum payment obligation connected with such registered Bids exceed the Credit Limit, the Allocation Platform shall issue automatically via the Auction Tool a warning to the Registered Participant to modify the Bids. Bids shall not be rejected automatically if the maximum payment obligation attributed to registered Bids exceeds the Credit Limit at Bid submission but only after the process described in paragraph 2 of this Article. 2. At closure of the Bidding Period the Allocation Platform shall check again whether the maximum payment obligations connected with registered Bids calculated according to paragraph 5 of this Article exceed the Credit Limit. If the maximum payment obligations connected with these Bids exceed the Credit Limit, these Bids, starting with the Bid with the lowest Bid Price, shall be one (1) by one (1) excluded, until the maximum payment obligations are less than or equal to the Credit Limit. 3. The Allocation Platform shall indicate insufficient collaterals as the reason for the Bid exclusion in the Shadow Auction results notification to the Registered Participant. 4. The Allocation Platform shall continuously assess all the Bids irrespectively to which Shadow Auction and with regard to which Bidding Zone border and direction they are submitted. In case of Bids connected with various and overlapping Auctions the Allocation Platform shall consider all calculated maximum payment obligations as outstanding payment obligations according to Article 21. 5. For the calculation of the maximum payment obligations related to one Bidding Zone border and direction the Allocation Platform shall sort the registered Bids of a Registered Participant by Bid Price in descending order (merit-order). Bid 1 shall be the Bid with the highest Bid Price and Bid n shall be the Bid with the lowest Bid Price. The Allocation Platform shall calculate the maximum payment obligations according to the following equation: πππ = β ππ΄π [π΅πππππππ(1) β π΅ππππ’πππ‘ππ‘π¦(1); π΅πππππππ(2) β β π΅ππππ’πππ‘ππ‘π¦(π); β¦ πβ1 π β¦ ; π΅πππππππ(π β 1) β β π΅ππππ’πππ‘ππ‘π¦(π) ; π΅πππππππ(π) β β π΅ππππ’πππ‘ππ‘π¦(π)] π=1 π=1 6. When calculating the maximum payment obligations according to paragraph 5 of this Article, the Allocation Platform shall also take into account increase of the maximum payment obligations with applicable taxes and levies in force subject to Article 48.
Appears in 4 contracts
Samples: Shadow Allocation Rules, Shadow Allocation Rules, Shadow Allocation Rules
Credit Limit verification. 1. Upon submission by a Registered Participant of a Bid or set of Bids to the Auction Tool the Allocation Platform shall check whether the maximum payment obligations (MPO) connected with that Registered Participantβs registered Bid(s) calculated according to paragraphs 4 and 5 of this Article at the time of Bid(s) submission exceed the Credit Limit. If the maximum payment obligation connected with such registered Bids exceed the Credit Limit, the Allocation Platform shall issue automatically via the Auction Tool a warning to the Registered Participant to modify the BidsCredit Limit. Bids shall not be rejected automatically if the maximum payment obligation attributed to registered Bids exceeds the Credit Limit at Bid submission but only after the process described in paragraph 2 of this Article.
2. At closure of the Bidding Period the Allocation Platform shall check again whether the maximum payment obligations connected with registered Bids calculated according to paragraph 5 of this Article exceed the Credit Limit. If the maximum payment obligations connected with these Bids exceed the Credit Limit, these Bids, starting with the Bid with the lowest Bid Price, shall be one
one (1) by one (1) excluded, until the maximum payment obligations are less than or equal to the Credit Limit. The Allocation Platform may apply additional criteria or rules to decide which Bid shall be rejected. Such additional criteria or rules shall be included in the information System Rules and shall be one or more from the following:
(a) chronological submission (time stamp); and/or
(b) Bid identification assigned by the Auction Tool; and/or
(c) rejection of all relevant Bids with the same Bid Price.
3. The Allocation Platform shall indicate insufficient collaterals as the reason for the Bid exclusion in the Shadow Auction results notification to the Registered Participant.
4. The Allocation Platform shall continuously assess all the Bids irrespectively to which Shadow Auction and with regard to which Bidding Zone bidding zone border and direction they are submitted. In case of Bids connected with various and overlapping Auctions the Allocation Platform shall consider all calculated maximum payment obligations as outstanding payment obligations according to Article 21.23
5. For the calculation of the maximum payment obligations related to one Bidding Zone bidding zone border and direction the Allocation Platform shall sort the registered Bids of a Registered Participant by Bid Price in descending order (merit-order). Bid 1 shall be the Bid with the highest Bid Price and Bid n shall be the Bid with the lowest Bid Price. The Allocation Platform shall calculate the maximum payment obligations according to the following equation: πππ = β ππ΄π [π΅π[ (1ππππππ(1) β(1 π΅ππππ’π(2ππ‘ππ‘π¦(1); π΅ποΏ½() οΏ½ποΏ½οΏ½πποΏ½β =1 β1 οΏ½(2) β β π΅ππ( ππ’πποΏ½οΏ½ππ‘π¦(π); (β¦ πβ1 π β¦ ; (π΅πππππππ(π( β 1) β β =1 =1π΅ππππ’πππ‘ππ‘π¦(π) ; π΅πππππππ(π) β β π΅ππππ’πππ‘ππ‘π¦(π)] π=1 π=1
6. When calculating the maximum payment oblthe following igations accoaccount:
(a) if applicable, for each individual hour of the Reduction Period the maximum quantity of Long Term Transmission Rights which can be allocated to the Registered Participant during the Reduction Period;
(b) rding to paragraph 5 of this Article, the Allocation Platform shall also take into account increase of the 64; and
(c) in respect of Long Term Transmission Rights with a Product Period of one (1) or more months, one (1) or two (2) monthly instalments respectively should be secured in compliance with due amount calculation according to Article 63(5)maximum payment obligations with applicable taxes and levies in force subject to Article 48.
Appears in 3 contracts
Samples: Allocation Rules for Forward Capacity Allocation, Allocation Rules for Forward Capacity Allocation, Participation Agreement
Credit Limit verification. 1. Upon submission by a Registered Participant of a Bid or set of Bids to the Auction Tool the Allocation Platform shall check whether the maximum payment obligations (MPO) connected with that Registered Participantβs registered Bid(s) calculated according to paragraphs 4 and 5 of this Article at the time of Bid(s) submission exceed the Credit Limit. If the maximum payment obligation connected with such registered Bids exceed the Credit Limit, the Allocation Platform shall issue automatically via the Auction Tool a warning to the Registered Participant to modify the BidsCredit Limit. Bids shall not be rejected automatically if the maximum payment obligation attributed to registered Bids exceeds the Credit Limit at Bid submission but only after the process described in paragraph 2 of this Article.
2. At closure of the Bidding Period the Allocation Platform shall check again whether the maximum payment obligations connected with registered Bids calculated according to paragraph 5 of this Article exceed the Credit Limit. If the maximum payment obligations connected with these Bids exceed the Credit Limit, these Bids, starting with the Bid with the lowest Bid Price, shall be one
one (1) by one (1) excluded, until the maximum payment obligations are less than or equal to the Credit Limit. The Allocation Platform may apply additional criteria or rules to decide which Bid shall be rejected. Such additional criteria or rules shall be included in the information System Rules and shall be one or more from the following:
(a) chronological submission (time stamp); and/or
(b) Bid identification assigned by the Auction Tool; and/or
(c) rejection of all relevant Bids with the same Bid Price.
3. The Allocation Platform shall indicate insufficient collaterals as the reason for the Bid exclusion in the Shadow Auction results notification to the Registered Participant.
4. The Allocation Platform shall continuously assess all the Bids irrespectively to which Shadow Auction and with regard to which Bidding Zone border and direction they are submitted. In case of Bids connected with various and overlapping Auctions the Allocation Platform shall consider all calculated maximum payment obligations as outstanding payment obligations according to Article 21.
5. For the calculation of the maximum payment obligations related to one Bidding Zone border and direction the Allocation Platform shall sort the registered Bids of a Registered Participant by Bid Price in descending order (merit-order). Bid 1 shall be the Bid with the highest Bid Price and Bid n shall be the Bid with the lowest Bid Price. The Allocation Platform shall calculate the maximum payment obligations according to the following equation: πππ = β ποΏ½ ππ΄ππ οΏ½π΄π [π΅πππππππ(1) βπ΅πππ΅π΅π’πππ‘ππ‘π¦(1 π΅ππππ’πππ‘ππ‘π¦(1); π΅ποΏ½ π΅πππ΅π΅π’πππ‘ππ‘π¦(ππποΏ½οΏ½πποΏ½οΏ½(2) β β π΅ππππ’ποΏ½οΏ½π‘ππ‘π¦(π); οΏ½ π΅πππ΅π΅π’πππ‘ππ‘π¦(πβ¦ πβ1 π β¦ ; π΅πππππππ(ποΏ½ π΅πππ΅π΅π’πππ‘ππ‘π¦(π β οΏ½ 1) β β π΅ππππ’πππ‘ππ‘π¦(π) ; π΅πππππππ(π) β β π΅ππππ’πππ‘ππ‘π¦(π)] π=1 π=1
6. When calculating the maximum payment obligations according to paragraph 5 of this Article, the Allocation Platform shall also take into account increase of the 52maximum payment obligations with applicable taxes and levies in force subject to Article 48.
Appears in 3 contracts
Samples: Rules for Explicit Daily Capacity Allocation, Rules for Explicit Daily Capacity Allocation, Daily Explicit Capacity Allocation Rules
Credit Limit verification. 1. Upon submission by a Registered Participant of a Bid or set of Bids to the Auction Tool the Allocation Platform shall check whether the maximum payment obligations (MPO) connected with that Registered Participantβs registered Bid(s) calculated according to paragraphs 4 and 5 of this Article at the time of Bid(s) submission exceed the Credit Limit. If the maximum payment obligation connected with such registered Bids exceed the Credit Limit, the Allocation Platform shall issue automatically via the Auction Tool a warning to the Registered Participant to modify the BidsCredit Limit. Bids shall not be rejected automatically if the maximum payment obligation attributed to registered Bids exceeds the Credit Limit at Bid submission but only after the process described in paragraph 2 of this Article.
2. At closure of the Bidding Period the Allocation Platform shall check again whether the maximum payment obligations connected with registered Bids calculated according to paragraph 5 of this Article exceed the Credit Limit. If the maximum payment obligations connected with these Bids exceed the Credit Limit, these Bids, starting with the Bid with the lowest Bid Price, shall be one
(1) by one (1) excluded, until the maximum payment obligations are less than or equal to the Credit Limit.
3. The Allocation Platform shall indicate insufficient collaterals as the reason for the Bid exclusion in the Shadow Auction results notification to the Registered Participant.
4. The Allocation Platform shall continuously assess all the Bids irrespectively to which Shadow Auction and with regard to which Bidding Zone border and direction they are submitted. In case of Bids connected with various and overlapping Auctions the Allocation Platform shall consider all calculated maximum payment obligations as outstanding payment obligations according to Article 21.
5. For the calculation of the maximum payment obligations related to one Bidding Zone border and direction the Allocation Platform shall sort the registered Bids of a Registered Participant by Bid Price in descending order (merit-order). Bid 1 shall be the Bid with the highest Bid Price and Bid n shall be the Bid with the lowest Bid Price. The Allocation Platform shall calculate the maximum payment obligations according to the following equation: πππ = β ππ΄π [π΅πππππππ(1) β π΅ππππ’πππ‘ππ‘π¦(1); π΅ππποΏ½οΏ½πποΏ½οΏ½(2) β β π΅ππππ’πππ‘ππ‘π¦(π); β¦ πβ1 π β¦ ; π΅πππππππ(π β 1) β β π΅ππππ’πππ‘ππ‘π¦(π) ; π΅πππππππ(π) β β π΅ππππ’πππ‘ππ‘π¦(π)] π=1 π=1
6. When calculating the maximum payment obligations according to paragraph 5 of this Article, the Allocation Platform shall also take into account increase of the maximum payment obligations with applicable taxes and levies in force subject to Article 48.
Appears in 2 contracts
Samples: Rules for Explicit Daily Capacity Allocation on Bidding Zone Borders Serviced by See Cao, Rules for Explicit Daily Capacity Allocation on Bidding Zone Borders Serviced by See Cao
Credit Limit verification. 1. Upon submission by a Registered Participant of a Bid or set of Bids to the Auction Tool the Allocation Platform shall check whether the maximum payment obligations (MPO) connected with that Registered Participantβs registered Bid(s) calculated according to paragraphs 3 and 4 and 5 of this Article at the time of Bid(s) submission exceed the Credit Limit. If the maximum payment obligation connected with such registered Bids exceed the Credit Limit, the Allocation Platform shall issue automatically via the Auction Tool a warning to the Registered Participant to modify the BidsCredit Limit. Bids shall not be rejected automatically if the maximum payment obligation attributed to registered Bids exceeds the Credit Limit at Bid submission but only after the process described in paragraph 2 of this Article.
2. At closure of the Bidding Period the Allocation Platform shall check again whether the maximum payment obligations connected with registered Bids calculated according to paragraph 5 4 of this Article exceed the Credit Limit. If the maximum payment obligations connected with these Bids exceed the Credit Limit, these Bids, starting with the Bid with the lowest Bid Price, shall be one
one (1) by one (1) excluded, until the maximum payment obligations are less than or equal to the Credit Limit. The Allocation Platform may apply additional criteria or rules to decide which Bid shall be rejected. Such additional criteria or rules shall be included in the information System Rules and shall be one or more from the following:
(a) chronological submission (time stamp); and/or
(b) Bid identification assigned by the Auction Tool; and/or
(c) rejection of all relevant Bids with the same Bid Price.
3. The Allocation Platform shall indicate insufficient collaterals as the reason for the Bid exclusion in the Shadow Auction results notification to the Registered Participant.
4. The Allocation Platform shall continuously assess all the Bids irrespectively to which Shadow Auction and with regard to which Bidding Zone border and direction they are submitted. In case of Bids connected with various and overlapping Auctions the Allocation Platform shall consider all calculated maximum payment obligations as outstanding payment obligations according to Article 21.
5. For the calculation of the maximum payment obligations related to one Bidding Zone border and direction the Allocation Platform shall sort the registered Bids of a Registered Participant by Bid Price in descending order (merit-order). Bid 1 shall be the Bid with the highest Bid Price and Bid n shall be the Bid with the lowest Bid Price. The Allocation Platform shall calculate the maximum payment obligations according to the following equation: πππ = β ππ΄π [π΅π[ (1ππππππ(1) β(1 π΅ππππ’π(2ππ‘ππ‘π¦(1); π΅ποΏ½() οΏ½ποΏ½οΏ½πποΏ½οΏ½(2) β β π΅ππ( ππ’πποΏ½οΏ½ππ‘π¦(π); (β¦ πβ1 π β¦ ; (π΅πππππππ(π( β 1) β β =1 =1π΅ππππ’πππ‘ππ‘π¦(π) ; π΅πππππππ(π) β β π΅ππππ’πππ‘ππ‘π¦(π)] π=1 π=1
6. When calculating the maximum payment obligations accothe rding to paragraph 5 of this Article, the Allocation Platform shall also take into account increase of the forcemaximum payment obligations with applicable taxes and levies in force subject to Article 48.
Appears in 2 contracts
Samples: Rules for Daily Capacity Allocation, Rules for Daily Capacity Allocation
Credit Limit verification. 1. Upon submission by a Registered Participant of a Bid or set of Bids to the Auction Tool the Allocation Platform shall check whether the maximum payment obligations (MPO) connected with that Registered Participantβs registered Bid(s) calculated according to paragraphs 4 and 5 of this Article at the time of Bid(s) submission exceed the Credit Limit. If the maximum payment obligation connected with such registered Bids exceed the Credit Limit, the Allocation Platform shall issue automatically via the Auction Tool a warning to the Registered Participant to modify the BidsCredit Limit. Bids shall not be rejected automatically if the maximum payment obligation attributed to registered Bids exceeds the Credit Limit at Bid submission but only after the process described in paragraph 2 of this Article.
2. At closure of the Bidding Period the Allocation Platform shall check again whether the maximum payment obligations connected with registered Bids calculated according to paragraph 5 of this Article exceed the Credit Limit. If the maximum payment obligations connected with these Bids exceed the Credit Limit, these Bids, starting with the Bid with the lowest Bid Price, shall be one
one (1) by one (1) excluded, until the maximum payment obligations are less than or equal to the Credit Limit. The Allocation Platform may apply additional criteria or rules to decide which Bid shall be rejected. Such additional criteria or rules shall be included in the information System Rules and shall be one or more from the following:
(a) chronological submission (time stamp); and/or
(b) Bid identification assigned by the Auction Tool; and/or
(c) rejection of all relevant Bids with the same Bid Price.
3. The Allocation Platform shall indicate insufficient collaterals as the reason for the Bid exclusion in the Shadow Auction results notification to the Registered Participant.
4. The Allocation Platform shall continuously assess all the Bids irrespectively to which Shadow Auction and with regard to which Bidding Zone border and direction they are submitted. In case of Bids connected with various and overlapping Auctions the Allocation Platform shall consider all calculated maximum payment obligations as outstanding payment obligations according to Article 21.23
5. For the calculation of the maximum payment obligations related to one Bidding Zone border and direction the Allocation Platform shall sort the registered Bids of a Registered Participant by Bid Price in descending order (merit-order). Bid 1 shall be the Bid with the highest Bid Price and Bid n shall be the Bid with the lowest Bid Price. The Allocation Platform shall calculate the maximum payment obligations according to the following equation: πππ = β ππ΄π [π΅πππππππ(1) β π΅ππππ’πππ‘ππ‘π¦(1); π΅πππππππ(2) β β π΅ππποΏ½ πππ₯ οΏ½π΅ππ πππππ (π’ποΏ½οΏ½π‘ππ‘π¦(π); π΅ππ πππ’πππ‘ππ‘π¦ (1); π΅ππ πππππ (2) β οΏ½ π΅ππ πππ’πππ‘ππ‘π¦ (πβ¦ πβ1 π β¦ ; π΅πππππππ(π β β¦ 1) β β π΅ππππ’πππ‘ππ‘π¦(π) ; π΅πππππππ(π) β β π΅ππππ’πππ‘ππ‘π¦(π)] π=1 π=1
6. When calculating the maximum payment oblthe following igations accoaccount:
(a) if applicable, for each individual hour of the Reduction Period the maximum quantity of Long Term Transmission Rights which can be allocated to the Registered Participant during the Reduction Period;
(b) rding to paragraph 5 of this Article, the Allocation Platform shall also take into account increase of the 65; and
(c) in respect of Long Term Transmission Rights with a Product Period of one (1) or more months, one (1) or two (2) monthly instalments respectively should be secured in compliance with due amount calculation according to Article 64(5)maximum payment obligations with applicable taxes and levies in force subject to Article 48.
Appears in 2 contracts
Samples: Allocation Rules for Forward Capacity Allocation, Allocation Rules for Forward Capacity Allocation
Credit Limit verification. 1. Upon submission by a Registered Participant of a Bid or set of Bids to the Auction Tool the Allocation Platform shall check whether the maximum payment obligations (MPO) connected with that Registered Participantβs registered Bid(s) calculated according to paragraphs 4 and 5 of this Article at the time of Bid(s) submission exceed the Credit Limit. If the maximum payment obligation connected with such registered Bids exceed the Credit Limit, the Allocation Platform shall issue automatically via the Auction Tool a warning to the Registered Participant to modify the BidsCredit Limit. Bids shall not be rejected automatically if the maximum payment obligation attributed to registered Bids exceeds the Credit Limit at Bid submission but only after the process described in paragraph 2 of this Article.
2. At closure of the Bidding Period the Allocation Platform shall check again whether the maximum payment obligations connected with registered Bids calculated according to paragraph 5 of this Article exceed the Credit Limit. If the maximum payment obligations connected with these Bids exceed the Credit Limit, these Bids, starting with the Bid with the lowest Bid Price, shall be one
one (1) by one (1) excluded, until the maximum payment obligations are less than or equal to the Credit Limit. The Allocation Platform may apply additional criteria or rules to decide which Bid shall be rejected. Such additional criteria or rules shall be included in the information System Rules and shall be one or more from the following:
(a) chronological submission (time stamp); and/or
(b) Bid identification assigned by the Auction Tool; and/or
(c) rejection of all relevant Bids with the same Bid Price.
3. The Allocation Platform shall indicate insufficient collaterals as the reason for the Bid exclusion in the Shadow Auction results notification to the Registered Participant.
4. The Allocation Platform shall continuously assess all the Bids irrespectively to which Shadow Auction and with regard to which Bidding Zone bidding zone border and direction they are submitted. In case of Bids connected with various and overlapping Auctions the Allocation Platform shall consider all calculated maximum payment obligations as outstanding payment obligations according to Article 21.23
5. For the calculation of the maximum payment obligations related to one Bidding Zone bidding zone border and direction the Allocation Platform shall sort the registered Bids of a Registered Participant by Bid Price in descending order (merit-order). Bid 1 shall be the Bid with the highest Bid Price and Bid n shall be the Bid with the lowest Bid Price. The Allocation Platform shall calculate the maximum payment obligations according to the following equation: πππ = β οΏ½πππ₯ οΏ½π΄π [π΅ππ΅ππ πππππ (1ππππππ(1) βπ΅ππ ππ’πππ‘ππ‘π¦ (1 π΅ππππ’ππ΅ππ πππππ (2ππ‘ππ‘π¦(1); π΅ποΏ½π΅ππ ππ’πππ‘ππ‘π¦ (π) οΏ½ποΏ½βππ’ππ π=1 οΏ½πππ(2) β β π΅πππ΅ππ πππππ (π ππ’πποΏ½οΏ½ππ‘π¦(π); π΅ππ ππ’πππ‘ππ‘π¦ (πβ¦ πβ1 π β¦ ; π΅ππ πππππ (ππ΅πππππππ(ππ΅ππ ππ’πππ‘ππ‘π¦ (π β 1) β β π΅ππππ’πππ‘ππ‘π¦(π) ; π΅πππππππ(π) β β π΅ππππ’πππ‘ππ‘π¦(π)] π=1 π=1
6. When calculating the maximum payment oblthe following igations accoaccount:
(a) if applicable, for each individual hour of the Reduction Period the maximum quantity of Long Term Transmission Rights which can be allocated to the Registered Participant during the Reduction Period;
(b) rding to paragraph 5 of this Article, the Allocation Platform shall also take into account increase of the 64; and
(c) in respect of Long Term Transmission Rights with a Product Period of one (1) or more months, one (1) or two (2) monthly instalments respectively should be secured in compliance with due amount calculation according to Article 63(5)maximum payment obligations with applicable taxes and levies in force subject to Article 48.
Appears in 2 contracts
Samples: Allocation Rules for Forward Capacity Allocation, Allocation Rules for Forward Capacity Allocation
Credit Limit verification. 1. Upon submission by a Registered Participant of a Bid or set of Bids to the Auction Tool the Allocation Platform shall check whether the maximum payment obligations (MPO) connected with that Registered Participantβs registered Bid(s) calculated according to paragraphs 4 and 5 of this Article at the time of Bid(s) submission exceed the Credit Limit. If the maximum payment obligation connected with such registered Bids exceed the Credit Limit, the Allocation Platform shall issue automatically via the Auction Tool a warning to the Registered Participant to modify the BidsCredit Limit. Bids shall not be rejected automatically if the maximum payment obligation attributed to registered Bids exceeds the Credit Limit at Bid submission but only after the process described in paragraph 2 of this Article.
2. At closure of the Bidding Period the Allocation Platform shall check again whether the maximum payment obligations connected with registered Bids calculated according to paragraph 5 of this Article exceed the Credit Limit. If the maximum payment obligations connected with these Bids exceed the Credit Limit, these Bids, starting with the Bid with the lowest Bid Price, shall be one
one (1) by one (1) excluded, until the maximum payment obligations are less than or equal to the Credit Limit. The Allocation Platform may apply additional criteria or rules to decide which Bid shall be rejected. Such additional criteria or rules shall be included in the information System Rules and shall be one or more from the following:
(a) chronological submission (time stamp); and/or
(b) Bid identification assigned by the Auction Tool; and/or
(c) rejection of all relevant Bids with the same Bid Price.
3. The Allocation Platform shall indicate insufficient collaterals as the reason for the Bid exclusion in the Shadow Auction results notification to the Registered Participant.
4. The Allocation Platform shall continuously assess all the Bids irrespectively to which Shadow Auction and with regard to which Bidding Zone border and direction they are submitted. In case of Bids connected with various and overlapping Auctions the Allocation Platform shall consider all calculated maximum payment obligations as outstanding payment obligations according to Article 21.23
5. For the calculation of the maximum payment obligations related to one Bidding Zone border and direction the Allocation Platform shall sort the registered Bids of a Registered Participant by Bid Price in descending order (merit-order). Bid 1 shall be the Bid with the highest Bid Price and Bid n shall be the Bid with the lowest Bid Price. The Allocation Platform shall calculate the maximum payment obligations according to the following equation: πππ = β οΏ½πππ₯ οΏ½π΄π [π΅ππ΅ππ πππππ (1ππππππ(1) β* π΅ππ ππ’πππ‘ππ‘π¦ (1 π΅ππππ’ππ΅ππ πππππ (2ππ‘* ππ‘π¦(1); π΅πππππππ(2) β β π΅ππππ’πππ‘ππ‘π¦(π); π΅ππ ππ’πππ‘ππ‘π¦ (πβ¦ πβ1 π β¦ ; π΅πππππππ(π β 1) β β π΅ππππ’πππ‘ππ‘π¦(π) ; π΅πππππππ(π) β β π΅ππππ’πππ‘ππ‘π¦(π)] π=1 π=1
6. When calculating the maximum payment obligations according to paragraph 5 of this Article, the Allocation Platform shall also take into account increase of the mβ¦aximum payment obligations with applicable taxes and levies in force subject to Article 48.
Appears in 2 contracts
Samples: Allocation Rules for Forward Capacity Allocation, Allocation Rules for Forward Capacity Allocation
Credit Limit verification. 1. Upon submission by a Registered Participant of a Bid or set of Bids to the Auction Tool the Allocation Platform shall check whether the maximum payment obligations (MPO) connected with that Registered Participantβs registered Bid(s) calculated according to paragraphs 3 and 4 and 5 of this Article at the time of Bid(s) submission exceed the Credit Limit. If the maximum payment obligation connected with such registered Bids exceed the Credit Limit, the Allocation Platform shall issue automatically via the Auction Tool a warning to the Registered Participant to modify the BidsCredit Limit. Bids shall not be rejected automatically if the maximum payment obligation attributed to registered Bids exceeds the Credit Limit at Bid submission but only after the process described in paragraph 2 of this Article.
2. At closure of the Bidding Period the Allocation Platform shall check again whether the maximum payment obligations connected with registered Bids calculated according to paragraph 5 4 of this Article exceed the Credit Limit. If the maximum payment obligations connected with these Bids exceed the Credit Limit, these Bids, starting with the Bid with the lowest Bid PriceValue, shall be one
one (1) by one (1) excluded, until the maximum payment obligations are less than or equal to the Credit Limit.
3. The Allocation Platform shall indicate insufficient collaterals as the reason for the Bid exclusion in the Shadow Auction results notification to the Registered Participant.
4. The Allocation Platform shall continuously assess all the Bids irrespectively to which Shadow Auction and with regard to which Bidding Zone border and direction they are submitted. In case of Bids connected with various and overlapping Auctions the Allocation Platform shall consider all calculated maximum payment obligations as outstanding payment obligations according to Article 21.
5. For the calculation of the maximum payment obligations related to one Bidding Zone border and direction the Allocation Platform shall sort the registered Bids of a Registered Participant by Bid Price Value in descending order (merit-order). Bid 1 shall be the Bid with the highest Bid Price Value and Bid n shall be the Bid with the lowest Bid PriceValue. The Allocation Platform shall calculate the maximum payment obligations according to the following equation: πππ = β ππ΄π [π΅πππππππ(1) β π΅ππππ’πππ‘ππ‘π¦(1); π΅πππππππ(2) β β π΅ππππ’πππ‘ππ‘π¦(π); β¦ πβ1 π β¦ ; π΅πππππππ(π β 1) β β :π΅ππππ’πππ‘ππ‘π¦(π) ; π΅πππππππ(π) β β π΅ππππ’πππ‘ππ‘π¦(οΏ½4 οΏ½)] π=1 π=1
6. When calculating the maximum payment obligations accothe rding to paragraph 5 of this Article, the Allocation Platform shall also take into account increase of the forcemaximum payment obligations with applicable taxes and levies in force subject to Article 48.
Appears in 2 contracts
Samples: Rules for Daily Capacity Allocation on Swiss Borders, Rules for Daily Capacity Allocation
Credit Limit verification. 1. Upon submission by a Registered Participant of a Bid or set of Bids to the Auction Tool the Allocation Platform shall check whether the maximum payment obligations (MPO) connected with that Registered Participantβs registered Bid(s) calculated according to paragraphs 4 and 5 of this Article at the time of Bid(s) submission exceed the Credit Limit. If the maximum payment obligation connected with such registered Bids exceed the Credit Limit, the Allocation Platform shall issue automatically via the Auction Tool a warning to the Registered Participant to modify the BidsCredit Limit. Bids shall not be rejected automatically if the maximum payment obligation attributed to registered Bids exceeds the Credit Limit at Bid submission but only after the process described in paragraph 2 of this Article.
2. At closure of the Bidding Period the Allocation Platform shall check again whether the maximum payment obligations connected with registered Bids calculated according to paragraph 5 of this Article exceed the Credit Limit. If the maximum payment obligations connected with these Bids exceed the Credit Limit, these Bids, starting with the Bid with the lowest Bid Price, shall be one
one (1) by one (1) excluded, until the maximum payment obligations are less than or equal to the Credit Limit. The Allocation Platform may apply additional criteria or rules to decide which Bid shall be rejected. Such additional criteria or rules shall be included in the information System Rules and shall be one or more from the following:
(a) chronological submission (time stamp); and/or
(b) Bid identification assigned by the Auction Tool; and/or
(c) rejection of all relevant Bids with the same Bid Price.
3. The Allocation Platform shall indicate insufficient collaterals as the reason for the Bid exclusion in the Shadow Auction results notification to the Registered Participant.
4. The Allocation Platform shall continuously assess all the Bids irrespectively to which Shadow Auction and with regard to which Bidding Zone border and direction they are submitted. In case of Bids connected with various and overlapping Auctions the Allocation Platform shall consider all calculated maximum payment obligations as outstanding payment obligations according to Article 21.
5. For the calculation of the maximum payment obligations related to one Bidding Zone border and direction the Allocation Platform shall sort the registered Bids of a Registered Participant by Bid Price in descending order (merit-order). Bid 1 shall be the Bid with the highest Bid Price and Bid n shall be the Bid with the lowest Bid Price. The Allocation Platform shall calculate the maximum payment obligations according to the following equation: πππ = β ππ΄π [π΅ποΏ½ οΏ½(1ππππππ(1) β(1 π΅ππππ’π(2ππ‘ππ‘π¦(1); π΅ποΏ½ (πποΏ½οΏ½πποΏ½=1 οΏ½(2) β β π΅ππ( ππ’ποΏ½οΏ½π‘ππ‘π¦(π); οΏ½ (β¦ πβ1 π β¦ ; (π΅πππππππ(ποΏ½ ( β 1) β β οΏ½ =1 =1π΅ππππ’πππ‘ππ‘π¦(π) ; π΅πππππππ(π) β β π΅ππππ’πππ‘ππ‘π¦(π)] π=1 π=1
6. When calculating the maximum payment obligations according to paragraph 5 of this Article, the Allocation Platform shall also take into account increase of the 52maximum payment obligations with applicable taxes and levies in force subject to Article 48.
Appears in 2 contracts
Samples: Rules for Explicit Daily Capacity Allocation, Rules for Explicit Daily Capacity Allocation
Credit Limit verification. 1. Upon submission by a Registered Participant of a Bid or set of Bids to the Auction Tool the Allocation Platform shall check whether the maximum payment obligations (MPO) connected with that Registered Participantβs registered Bid(s) calculated according to paragraphs 3 and 4 and 5 of this Article at the time of Bid(s) submission exceed the Credit Limit. If the maximum payment obligation connected with such registered Bids exceed the Credit Limit, the Allocation Platform shall issue automatically via the Auction Tool a warning to the Registered Participant to modify the BidsCredit Limit. Bids shall not be rejected automatically if the maximum payment obligation attributed to registered Bids exceeds the Credit Limit at Bid submission but only after the process described in paragraph 2 of this Article.
2. At closure of the Bidding Period the Allocation Platform shall check again whether the maximum payment obligations connected with registered Bids calculated according to paragraph 5 4 of this Article exceed the Credit Limit. If the maximum payment obligations connected with these Bids exceed the Credit Limit, these Bids, starting with the Bid with the lowest Bid Price, shall be one
one (1) by one (1) excluded, until the maximum payment obligations are less than or equal to the Credit Limit. The Allocation Platform may apply additional criteria or rules to decide which Bid shall be rejected. Such additional criteria or rules shall be included in the information System Rules and shall be one or more from the following:
(a) chronological submission (time stamp); and/or
(b) Bid identification assigned by the Auction Tool; and/or
(c) rejection of all relevant Bids with the same Bid Price.
3. The Allocation Platform shall indicate insufficient collaterals as the reason for the Bid exclusion in the Shadow Auction results notification to the Registered Participant.
4. The Allocation Platform shall continuously assess all the Bids irrespectively to which Shadow Auction and with regard to which Bidding Zone border and direction they are submitted. In case of Bids connected with various and overlapping Auctions the Allocation Platform shall consider all calculated maximum payment obligations as outstanding payment obligations according to Article 21.
5. For the calculation of the maximum payment obligations related to one Bidding Zone border and direction the Allocation Platform shall sort the registered Bids of a Registered Participant by Bid Price in descending order (merit-order). Bid 1 shall be the Bid with the highest Bid Price and Bid n shall be the Bid with the lowest Bid Price. The Allocation Platform shall calculate the maximum payment obligations according to the following equation: πππ = β ππ΄π [π΅π[ (1ππππππ(1) β(1 π΅ππππ’π(2ππ‘ππ‘π¦(1); π΅ποΏ½() οΏ½ποΏ½οΏ½πποΏ½οΏ½(2) β β π΅ππ( ππ’πποΏ½οΏ½ππ‘π¦(π); (β¦ πβ1 π β¦ ; (π΅πππππππ(π( β 1) β β =1 =1π΅ππππ’πππ‘ππ‘π¦(π) ; π΅πππππππ(π) β β π΅ππππ’πππ‘ππ‘π¦(οΏ½4 οΏ½)] π=1 π=1
6. When calculating the maximum payment obligations accothe rding to paragraph 5 of this Article, the Allocation Platform shall also take into account increase of the forcemaximum payment obligations with applicable taxes and levies in force subject to Article 48.
Appears in 2 contracts
Samples: Rules for Daily Capacity Allocation, Participation Agreement
Credit Limit verification. 1. Upon submission by a Registered Participant of a Bid or set of Bids to the Auction Tool the Allocation Platform shall check whether the maximum payment obligations (MPO) connected with that Registered Participantβs registered Bid(s) calculated according to paragraphs 3 and 4 and 5 of this Article at the time of Bid(s) submission exceed the Credit Limit. If the maximum payment obligation connected with such registered Bids exceed the Credit Limit, the Allocation Platform shall issue automatically via the Auction Tool a warning to the Registered Participant to modify the BidsCredit Limit. Bids shall not be rejected automatically if the maximum payment obligation attributed to registered Bids exceeds the Credit Limit at Bid submission but only after the process described in paragraph 2 of this Article.
2. At closure of the Bidding Period the Allocation Platform shall check again whether the maximum payment obligations connected with registered Bids calculated according to paragraph 5 of this Article exceed the Credit Limit. If the maximum payment obligations connected with these Bids exceed the Credit Limit, these Bids, starting with the Bid with the lowest Bid PriceValue, shall be one
one (1) by one (1) excluded, until the maximum payment obligations are less than or equal to the Credit Limit.
3. The Allocation Platform shall indicate insufficient collaterals as the reason for the Bid exclusion in the Shadow Auction results notification to the Registered Participant.
4. The Allocation Platform shall continuously assess all the Bids irrespectively to which Shadow Auction and with regard to which Bidding Zone border and direction they are submitted. In case of Bids connected with various and overlapping Auctions the Allocation Platform shall consider all calculated maximum payment obligations as outstanding payment obligations according to Article 2122.
5. For the calculation of the maximum payment obligations related to one Bidding Zone border and direction the Allocation Platform shall sort the registered Bids of a Registered Participant by Bid Price Value in descending order (merit-order). Bid 1 shall be the Bid with the highest Bid Price Value and Bid n shall be the Bid with the lowest Bid PriceValue. The Allocation Platform shall calculate the maximum payment obligations according to the following equation: πππ = β ππ΄π [π΅πππππππ(1) β π΅ππππ’πππ‘ππ‘π¦(1); π΅πππππππ(2) β β π΅ππππ’πππ‘ππ‘π¦(π); β¦ πβ1 π β¦ ; π΅πππππππ(π β 1) β β :π΅ππππ’πππ‘ππ‘π¦(π) ; π΅πππππππ(π) β β π΅ππππ’πππ‘ππ‘π¦(οΏ½4 οΏ½)] π=1 π=1
6. When calculating the maximum payment obligations accothe rding to paragraph 5 of this Article, the Allocation Platform shall also take into account increase of the forcemaximum payment obligations with applicable taxes and levies in force subject to Article 48.
Appears in 1 contract
Samples: Rules for Daily Capacity Allocation on Ukrainian Borders
Credit Limit verification. 1. Upon submission by a Registered Participant of a Bid or set of Bids to the Auction Tool the Allocation Platform shall check whether the maximum payment obligations (MPO) connected with that Registered Participantβs registered Bid(s) calculated according to paragraphs paragraph 4 and 5 of this Article at the time of Bid(s) submission exceed the Credit Limit. If the maximum payment obligation connected with such the registered Bids exceed the Credit Limit, the Allocation Platform shall issue automatically via the Auction Tool a warning to the Registered Participant to modify the BidsCredit Limit. Bids shall not be rejected automatically if the maximum payment obligation attributed to registered Bids exceeds the Credit Limit at Bid submission but only after the process described in paragraph 2 of this Article.
2. At closure of the Bidding Period the Allocation Platform shall check confirm again whether the maximum payment obligations connected with registered Bids calculated according to paragraph 5 of this Article exceed the Credit Limit. If the maximum payment obligations connected with these Bids exceed the Credit Limit, these Bids, starting with the Bid with the lowest Bid Price, shall be one
one (1) by one (1) excluded, until the maximum payment obligations are less than or equal to the Credit Limit. The Allocation Platform may apply additional criteria or rules to decide which Bid shall be rejected. Such additional criteria or rules shall be included in the information System Rules and shall be one or more from the following:
(a) chronological submission (time stamp); and/or
(b) Bid identification assigned by the Auction Tool; and/or
(c) rejection of all relevant Bids with the same Bid Price.
3. The Allocation Platform shall indicate the insufficient collaterals as the reason for the Bid exclusion in the Shadow Auction results notification to the Registered Participant.
4. The Allocation Platform shall continuously assess all the Bids irrespectively to which Shadow Auction and with regard to which Bidding Zone border and direction they are submitted. In case of Bids connected with various and overlapping Auctions the Allocation Platform shall consider all calculated maximum payment obligations as outstanding payment obligations according to Article 21.
5. For the calculation of the maximum payment obligations obligation (MPO) related to one Bidding Zone border and direction the Allocation Platform shall sort the registered Bids of a Registered Participant by Bid Price Xxx Xxxxx in descending order (merit-order). Bid 1 shall be the Bid with the highest Bid Price and Bid n shall be the Bid with the lowest Bid Price. The Allocation Platform shall calculate the maximum payment obligations obligation according to the following equation: ππMPO π = β οΏ½Ξ£ MAX οΏ½π΄π [π΅πBidPrice(1ππππππ(1) βBidQuantity(1 π΅ππππ’πBidPrice(2ππ‘ππ‘π¦(1); π΅πΞ£ BidQuantity(iπποΏ½οΏ½πποΏ½οΏ½(2) β β π΅ππBidPrice(n ππ’ποΏ½οΏ½π‘ππ‘π¦(π); Ξ£ BidQuantity(iβ¦ πβ1 π β¦ ; BidPrice(nπ΅πππππππ(πΞ£ BidQuantity(i β 1) β β ]π΅ππππ’πππ‘ππ‘π¦(π) ; π΅πππππππ(π) β β π΅ππππ’πππ‘ππ‘π¦(π)] π=1 π=1
6. When calculating the maximum payment obligations accothe rding to paragraph 5 of this Article, the Allocation Platform shall also take into account increase of the forcemaximum payment obligations with applicable taxes and levies in force subject to Article 48.
Appears in 1 contract
Credit Limit verification. 1. Upon submission by a Registered Participant of a Bid or set of Bids to the Auction Tool the Allocation Platform shall check whether the maximum payment obligations (MPO) connected with that Registered Participantβs registered Bid(s) calculated according to paragraphs 3 and 4 and 5 of this Article at the time of Bid(s) submission exceed the Credit Limit. If the maximum payment obligation connected with such registered Bids exceed the Credit Limit, the Allocation Platform shall issue automatically via the Auction Tool a warning to the Registered Participant to modify the BidsCredit Limit. Bids shall not be rejected automatically if the maximum payment obligation attributed to registered Bids exceeds the Credit Limit at Bid submission but only after the process described in paragraph 2 of this Article.
2. At closure of the Bidding Period the Allocation Platform shall check again whether the maximum payment obligations connected with registered Bids calculated according to paragraph 5 4 of this Article exceed the Credit Limit. If the maximum payment obligations connected with these Bids exceed the Credit Limit, these Bids, starting with the Bid with the lowest Bid PricePriceValue, shall be one
one (1) by one (1) excluded, until the maximum payment obligations are less than or equal to the Credit Limit. The Allocation Platform may apply additional criteria or rules to decide which Bid shall be rejected. Such additional criteria or rules shall be included in the information System Rules and shall be one or more from the following:
(a) chronological submission (time stamp); and/or
(b) Bid identification assigned by the Auction Tool; and/or
(c) rejection of all relevant Bids with the same Bid Price.
3. The Allocation Platform shall indicate insufficient collaterals as the reason for the Bid exclusion in the Shadow Auction results notification to the Registered Participant.
4. The Allocation Platform shall continuously assess all the Bids irrespectively to which Shadow Auction and with regard to which Bidding Zone border and direction they are submitted. In case of Bids connected with various and overlapping Auctions the Allocation Platform shall consider all calculated maximum payment obligations as outstanding payment obligations according to Article 21.
5. For the calculation of the maximum payment obligations related to one Bidding Zone border and direction the Allocation Platform shall sort the registered Bids of a Registered Participant by Bid Price in descending order (merit-order). Bid 1 shall be the Bid with the highest Bid Price and Bid n shall be the Bid with the lowest Bid Price. The Allocation Platform shall calculate the maximum payment obligations according to the following equation: πππ = β ππ΄π [π΅πππππππ(1) β π΅ππππ’πππ‘ππ‘π¦(1); π΅πππππππ(2) β β π΅πππ=1 =οΏ½οΏ½πππ‘ππ‘π¦(π); β¦ πβ1 π β¦ ; π΅πππππππ(π β 1) β β π΅ππππ’πππ‘ππ‘π¦(π) ; π΅πππππππ(π) β β π΅ππππ’πππ‘ππ‘π¦(οΏ½4 οΏ½)] π=1 π=1
6. When calculating the maximum payment obligations accothe rding to paragraph 5 of this Article, the Allocation Platform shall also take into account increase of the forcemaximum payment obligations with applicable taxes and levies in force subject to Article 48.
Appears in 1 contract
Samples: Rules for Daily Capacity Allocation
Credit Limit verification. 1. Upon submission by a Registered Participant of a Bid or set of Bids to the Auction Tool the Allocation Platform shall check whether the maximum payment obligations (MPO) connected with that Registered Participantβs registered Bid(s) calculated according to paragraphs 3 and 4 and 5 of this Article at the time of Bid(s) submission exceed the Credit Limit. If the maximum payment obligation connected with such registered Bids exceed the Credit Limit, the Allocation Platform shall issue automatically via the Auction Tool a warning to the Registered Participant to modify the BidsCredit Limit. Bids shall not be rejected automatically if the maximum payment obligation attributed to registered Bids exceeds the Credit Limit at Bid submission but only after the process described in paragraph 2 of this Article.
2. At closure of the Bidding Period the Allocation Platform shall check again whether the maximum payment obligations connected with registered Bids calculated according to paragraph 5 4 of this Article exceed the Credit Limit. If the maximum payment obligations connected with these Bids exceed the Credit Limit, these Bids, starting with the Bid with the lowest Bid Price, shall be one
one (1) by one (1) excluded, until the maximum payment obligations are less than or equal to the Credit Limit. The Allocation Platform may apply additional criteria or rules to decide which Bid shall be rejected. Such additional criteria or rules shall be included in the information System Rules and shall be one or more from the following:
(a) chronological submission (time stamp); and/or
(b) Bid identification assigned by the Auction Tool; and/or
(c) rejection of all relevant Bids with the same Bid Price.
3. The Allocation Platform shall indicate insufficient collaterals as the reason for the Bid exclusion in the Shadow Auction results notification to the Registered Participant.
4. The Allocation Platform shall continuously assess all the Bids irrespectively to which Shadow Auction and with regard to which Bidding Zone border and direction they are submitted. In case of Bids connected with various and overlapping Auctions the Allocation Platform shall consider all calculated maximum payment obligations as outstanding payment obligations according to Article 21.
5. For the calculation of the maximum payment obligations related to one Bidding Zone border and direction the Allocation Platform shall sort the registered Bids of a Registered Participant by Bid Price in descending order (merit-order). Bid 1 shall be the Bid with the highest Bid Price and Bid n shall be the Bid with the lowest Bid Price. The Allocation Platform shall calculate the maximum payment obligations according to the following equation: πππ = β ππ΄π [π΅ποΏ½ πππ₯ οΏ½π΅ππ πππππ (1ππππππ(1) βπ΅ππ πππ’πππ‘ππ‘π¦ (1 π΅ππππ’ππ΅ππ πππππ (2ππ‘ππ‘π¦(1); π΅ποΏ½οΏ½ π΅ππ πππ’πππ‘ππ‘π¦ (π) οΏ½ποΏ½οΏ½πποΏ½οΏ½(2) β β π΅πππ΅ππ πππππ (π ππ’ποΏ½οΏ½π‘ππ‘π¦(π); οΏ½ π΅ππ πππ’πππ‘ππ‘π¦ (πβ¦ πβ1 π β¦ ; π΅ππ πππππ (ππ΅πππππππ(ποΏ½ π΅ππ πππ’πππ‘ππ‘π¦ (π β οΏ½ 1) β β π΅ππππ’πππ‘ππ‘π¦(π) ; π΅πππππππ(π) β β π΅ππππ’πππ‘ππ‘π¦(οΏ½4 οΏ½)] π=1 π=1
6. When calculating the maximum payment obligations accothe rding to paragraph 5 of this Article, the Allocation Platform shall also take into account increase of the forcemaximum payment obligations with applicable taxes and levies in force subject to Article 48.
Appears in 1 contract
Samples: Rules for Daily Capacity Allocation
Credit Limit verification. 1. Upon submission by a Registered Participant of a Bid or set of Bids to the Auction Tool the Allocation Platform shall check whether the maximum payment obligations (MPO) connected with that Registered Participantβs registered Bid(s) calculated according to paragraphs 4 and 5 of this Article at the time of Bid(s) submission exceed the Credit Limit. If the maximum payment obligation connected with such the registered Bids exceed the Credit Limit, the Allocation Platform shall issue automatically via the Auction Tool a warning to the Registered Participant to modify the BidsCredit Limit. Bids shall not be rejected automatically if the maximum payment obligation attributed to registered Bids exceeds the Credit Limit at Bid submission but only after the process described in paragraph 2 of this Article.
2. At closure of the Bidding Period the Allocation Platform shall check confirm again whether the maximum payment obligations connected with registered Bids calculated according to paragraph 5 of this Article exceed the Credit Limit. If the maximum payment obligations connected with these Bids exceed the Credit Limit, these Bids, starting with the Bid with the lowest Bid PriceValue, shall be one
one (1) by one (1) excluded, until the maximum payment obligations are less than or equal to the Credit Limit.
3. The Allocation Platform shall indicate the insufficient collaterals as the reason for the Bid exclusion in the Shadow Auction results notification to the Registered Participant.
4. The Allocation Platform shall continuously assess all the Bids irrespectively to which Shadow Auction and with regard to which Bidding Zone border and direction they are submitted. In case of Bids connected with various and overlapping Auctions the Allocation Platform shall consider all calculated maximum payment obligations as outstanding payment obligations according to Article 21.
5. For the calculation of the maximum payment obligations obligation (MPO) related to one Bidding Zone border and direction the Allocation Platform shall sort the registered Bids of a Registered Participant by Bid Price in descending order (merit-order). Bid 1 shall be the Bid with the highest Bid Price and Bid n shall be the Bid with the lowest Bid Price. The Allocation Platform shall calculate the maximum payment obligations obligation according to the following equation: πππ = β οΏ½πππ₯ οΏ½π΄π [π΅ππ΅ππ πππππ (1ππππππ(1) βπ΅ππ ππ’πππ‘ππ‘π¦ (1 π΅ππππ’ππ΅ππ πππππ (2ππ‘ππ‘π¦(1); π΅ππ΅ππ ππ’πππ‘ππ‘π¦ (ππποΏ½βππ’ππ π=1 οΏ½πππ(2) β β π΅πππ΅ππ πππππ (π ππ’πποΏ½οΏ½ππ‘π¦(π); β¦ π΅ππ ππ’πππ‘ππ‘π¦ (π)πβ1 π β¦ ; π΅ππ πππππ (ππ΅πππππππ(ππ΅ππ ππ’πππ‘ππ‘π¦ (π β 1) β β π΅ππππ’πππ‘ππ‘π¦(π) ; π΅πππππππ(π) β β π΅ππππ’πππ‘ππ‘π¦(π)] π=1 π=1
6. When calculating the maximum payment obligations accothe rding to paragraph 5 of this Article, the Allocation Platform shall also take into account increase of the 44maximum payment obligations with applicable taxes and levies in force subject to Article 48.
Appears in 1 contract
Samples: Eleclink Intraday Allocation Rules
Credit Limit verification. 1. Upon submission by a Registered Participant of a Bid or set of Bids to the Auction Tool the Allocation Platform shall check whether the maximum payment obligations (MPO) connected with that Registered Participantβs registered Bid(s) calculated according to paragraphs 3 and 4 and 5 of this Article at the time of Bid(s) submission exceed the Credit Limit. If the maximum payment obligation connected with such registered Bids exceed the Credit Limit, the Allocation Platform shall issue automatically via the Auction Tool a warning to the Registered Participant to modify the BidsCredit Limit. Bids shall not be rejected automatically if the maximum payment obligation attributed to registered Bids exceeds the Credit Limit at Bid submission but only after the process described in paragraph 2 of this Article.
2. At closure of the Bidding Period the Allocation Platform shall check again whether the maximum payment obligations connected with registered Bids calculated according to paragraph 5 4 of this Article exceed the Credit Limit. If the maximum payment obligations connected with these Bids exceed the Credit Limit, these Bids, starting with the Bid with the lowest Bid Price, shall be one
one (1) by one (1) excluded, until the maximum payment obligations are less than or equal to the Credit Limit. The Allocation Platform may apply additional criteria or rules to decide which Bid shall be rejected. Such additional criteria or rules shall be included in the information System Rules and shall be one or more from the following:
(a) chronological submission (time stamp); and/or
(b) Bid identification assigned by the Auction Tool; and/or
(c) rejection of all relevant Bids with the same Bid Price.
3. The Allocation Platform shall indicate insufficient collaterals as the reason for the Bid exclusion in the Shadow Auction results notification to the Registered Participant.
4. The Allocation Platform shall continuously assess all the Bids irrespectively to which Shadow Auction and with regard to which Bidding Zone border and direction they are submitted. In case of Bids connected with various and overlapping Auctions the Allocation Platform shall consider all calculated maximum payment obligations as outstanding payment obligations according to Article 21.
5. For the calculation of the maximum payment obligations related to one Bidding Zone border and direction the Allocation Platform shall sort the registered Bids of a Registered Participant by Bid Price in descending order (merit-order). Bid 1 shall be the Bid with the highest Bid Price and Bid n shall be the Bid with the lowest Bid Price. The Allocation Platform shall calculate the maximum payment obligations according to the following equation: πππ = β οΏ½πππ₯ οΏ½π΄π [π΅ππ΅ππ πππππ (1ππππππ(1) βπ΅ππ ππ’πππ‘ππ‘π¦ (1 π΅ππππ’ππ΅ππ πππππ (2ππ‘ππ‘π¦(1); π΅ποΏ½π΅ππ ππ’πππ‘ππ‘π¦ (π) οΏ½ποΏ½οΏ½πποΏ½οΏ½(2) β β π΅πππ΅ππ πππππ (π ππ’πποΏ½οΏ½ππ‘π¦(π); π΅ππ ππ’πππ‘ππ‘π¦ (πβ¦ πβ1 π β¦ ; π΅ππ πππππ (ππ΅πππππππ(ππ΅ππ ππ’πππ‘ππ‘π¦ (π β 1) β β π΅ππππ’πππ‘ππ‘π¦(π) ; π΅πππππππ(π) β β π΅ππππ’πππ‘ππ‘π¦(οΏ½4 οΏ½)] π=1 π=1
6. When calculating the maximum payment obligations accothe rding to paragraph 5 of this Article, the Allocation Platform shall also take into account increase of the forcemaximum payment obligations with applicable taxes and levies in force subject to Article 48.
Appears in 1 contract
Samples: Rules for Daily Capacity Allocation
Credit Limit verification. 1. Upon submission by a Registered Participant of a Bid or set of Bids to the Auction Tool the Allocation Platform shall check whether the maximum payment obligations (MPO) connected with that Registered Participantβs registered Bid(s) calculated according to paragraphs 4 and 5 of this Article at the time of Bid(s) submission exceed the Credit Limit. If the maximum payment obligation connected with such registered Bids exceed the Credit Limit, the Allocation Platform shall issue automatically via the Auction Tool a warning to the Registered Participant to modify the BidsCredit Limit. Bids shall not be rejected automatically if the maximum payment obligation attributed to registered Bids exceeds the Credit Limit at Bid submission but only after the process described in paragraph 2 of this Article.
2. At closure of the Bidding Period the Allocation Platform shall check again whether the maximum payment obligations connected with registered Bids calculated according to paragraph 5 of this Article exceed the Credit Limit. If the maximum payment obligations connected with these Bids exceed the Credit Limit, these Bids, starting with the Bid with the lowest Bid Price, shall be one
one (1) by one (1) excluded, until the maximum payment obligations are less than or equal to the Credit Limit.
3. The Allocation Platform shall indicate insufficient collaterals as the reason for the Bid exclusion in the Shadow Auction results notification to the Registered Participant.
4. The Allocation Platform shall continuously assess all the Bids irrespectively to which Shadow Auction and with regard to which Bidding Zone border and direction they are submitted. In case of Bids connected with various and overlapping Auctions the Allocation Platform shall consider all calculated maximum payment obligations as outstanding payment obligations according to Article 21.
5. For the calculation of the maximum payment obligations related to one Bidding Zone border and direction the Allocation Platform shall sort the registered Bids of a Registered Participant by Bid Price in descending order (merit-order). Bid 1 shall be the Bid with the highest Bid Price and Bid n shall be the Bid with the lowest Bid Price. The Allocation Platform shall calculate the maximum payment obligations according to the following equation: πππ = β οΏ½οΏ½π΄π [π΅π(1ππππππ(1) β(1 π΅ππππ’π(2ππ‘ππ‘π¦(1); π΅π(πποΏ½οΏ½πποΏ½οΏ½(2) β β π΅ππ( ππ’πποΏ½οΏ½ππ‘π¦(π); (β¦ πβ1 π β¦ ; (π΅πππππππ(π( β 1) β β =1 =1π΅ππππ’πππ‘ππ‘π¦(π) ; π΅πππππππ(π) β β π΅ππππ’πππ‘ππ‘π¦(π)] π=1 π=1
6. When calculating the maximum payment obligations according to paragraph 5 of this Article, the Allocation Platform shall also take into account increase of the maximum payment obligations with applicable taxes and levies in force subject to Article 48.
Appears in 1 contract
Samples: Rules for Explicit Daily Capacity Allocation on Bidding Zone Borders Serviced by See Cao
Credit Limit verification. 1. Upon submission by a Registered Participant of a Bid or set of Bids to the Auction Tool the Allocation Platform shall check whether the maximum payment obligations (MPO) connected with that Registered Participantβs registered Bid(s) calculated according to paragraphs 4 and 5 of this Article at the time of Bid(s) submission exceed the Credit Limit. If the maximum payment obligation connected with such registered Bids exceed the Credit Limit, the Allocation Platform shall issue automatically via the Auction Tool a warning to the Registered Participant to modify the BidsCredit Limit. Bids shall not be rejected automatically if the maximum payment obligation attributed to registered Bids exceeds the Credit Limit at Bid submission but only after the process described in paragraph 2 of this Article.
2. At closure of the Bidding Period the Allocation Platform shall check again whether the maximum payment obligations connected with registered Bids calculated according to paragraph 5 of this Article exceed the Credit Limit. If the maximum payment obligations connected with these Bids exceed the Credit Limit, these Bids, starting with the Bid with the lowest Bid Price, shall be one
(1) by one (1) excluded, until the maximum payment obligations are less than or equal to the Credit Limit.
3. The Allocation Platform shall indicate insufficient collaterals as the reason for the Bid exclusion in the Shadow Auction results notification to the Registered Participant.
4. The Allocation Platform shall continuously assess all the Bids irrespectively to which Shadow Auction and with regard to which Bidding Zone border and direction they are submitted. In case of Bids connected with various and overlapping Auctions the Allocation Platform shall consider all calculated maximum payment obligations as outstanding payment obligations according to Article 2122.
5. For the calculation of the maximum payment obligations related to one Bidding Zone border and direction the Allocation Platform shall sort the registered Bids of a Registered Participant by Bid Price in descending order (merit-order). Bid 1 shall be the Bid with the highest Bid Price and Bid n shall be the Bid with the lowest Bid Price. The Allocation Platform shall calculate the maximum payment obligations according to the following equation: πππ = β οΏ½πππ₯ οΏ½π΄π [π΅ππ΅ππ πππππ (1ππππππ(1) βπ΅ππ ππ’πππ‘ππ‘π¦ (1 π΅ππππ’ππ΅ππ πππππ (2ππ‘ππ‘π¦(1); π΅ππ΅ππ ππ’πππ‘ππ‘π¦ (ππποΏ½οΏ½πποΏ½οΏ½(2) β β π΅πππ΅ππ πππππ (π ππ’πποΏ½οΏ½ππ‘π¦(π); β¦ π΅ππ ππ’πππ‘ππ‘π¦ (π)πβ1 π β¦ ; π΅ππ πππππ (ππ΅πππππππ(ππ΅ππ ππ’πππ‘ππ‘π¦ (π β 1) β β π΅ππππ’πππ‘ππ‘π¦(π) ; π΅πππππππ(π) β β π΅ππππ’πππ‘ππ‘π¦(π)] π=1 π=1
6. When calculating the maximum payment oblthe following igations accoaccount:
(a) if applicable, for each individual hour of the Reduction Period the maximum quantity of Long Term Transmission Rights which can be allocated to the Registered Participant during the Reduction Period;
(b) rding to paragraph 5 of this Article, the Allocation Platform shall also take into account increase of the 64; and
(c) in respect of Long Term Transmission Rights with a Product Period of one (1) or more months, one (1) or two (2) monthly instalments respectively should be secured in compliance with due amount calculation according to Article 63 paragraph 5maximum payment obligations with applicable taxes and levies in force subject to Article 48.
Appears in 1 contract
Samples: Long Term Allocation Rules
Credit Limit verification. 1. Upon submission by a Registered Participant of a Bid or set of Bids to the Auction Tool the Allocation Platform shall check whether the maximum payment obligations (MPO) connected with that Registered Participantβs registered Bid(s) calculated according to paragraphs 3 and 4 and 5 of this Article at the time of Bid(s) submission exceed the Credit Limit. If the maximum payment obligation connected with such registered Bids exceed the Credit Limit, the Allocation Platform shall issue automatically via the Auction Tool a warning to the Registered Participant to modify the BidsCredit Limit. Bids shall not be rejected automatically if the maximum payment obligation attributed to registered Bids exceeds the Credit Limit at Bid submission but only after the process described in paragraph 2 of this Article.
2. At closure of the Bidding Period the Allocation Platform shall check again whether the maximum payment obligations connected with registered Bids calculated according to paragraph 5 4 of this Article exceed the Credit Limit. If the maximum payment obligations connected with these Bids exceed the Credit Limit, these Bids, starting with the Bid with the lowest Bid Price, shall be one
one (1) by one (1) excluded, until the maximum payment obligations are less than or equal to the Credit Limit. The Allocation Platform may apply additional criteria or rules to decide which Bid shall be rejected. Such additional criteria or rules shall be included in the information System Rules and shall be one or more from the following:
(a) chronological submission (time stamp); and/or
(b) Bid identification assigned by the Auction Tool; and/or
(c) rejection of all relevant Bids with the same Bid Price.
3. The Allocation Platform shall indicate insufficient collaterals as the reason for the Bid exclusion in the Shadow Auction results notification to the Registered Participant.
4. The Allocation Platform shall continuously assess all the Bids irrespectively to which Shadow Auction and with regard to which Bidding Zone border and direction they are submitted. In case of Bids connected with various and overlapping Auctions the Allocation Platform shall consider all calculated maximum payment obligations as outstanding payment obligations according to Article 21.
5. For the calculation of the maximum payment obligations related to one Bidding Zone border and direction the Allocation Platform shall sort the registered Bids of a Registered Participant by Bid Price in descending order (merit-order). Bid 1 shall be the Bid with the highest Bid Price and Bid n shall be the Bid with the lowest Bid Price. The Allocation Platform shall calculate the maximum payment obligations according to the following equation: πππ = β οΏ½πππ₯ οΏ½π΄π [π΅ππ΅ππ πππππ (1ππππππ(1) βπ΅ππ ππ’πππ‘ππ‘π¦ (1 π΅ππππ’ππ΅ππ πππππ (2ππ‘ππ‘π¦(1); π΅ποΏ½π΅ππ ππ’πππ‘ππ‘π¦ (π) οΏ½ποΏ½οΏ½πππ(2) β β π΅ππππ’πππ‘ππ‘π¦(π); β¦ πβ1 π β¦ ; π΅πππππππ(π β 1) β β π΅ππππ’πππ‘ππ‘π¦(π) ; π΅πππππππ(π) β β π΅ππππ’πππ‘ππ‘π¦(οΏ½4 οΏ½)] π=1 π=1
6. When calculating the maximum payment obligations accothe rding to paragraph 5 of this Article, the Allocation Platform shall also take into account increase of the forcemaximum payment obligations with applicable taxes and levies in force subject to Article 48.
Appears in 1 contract
Samples: Daily Capacity Allocation Agreement
Credit Limit verification. 1. Upon submission by a Registered Participant of a Bid or set of Bids to the Auction Tool the Allocation Platform shall check whether the maximum payment obligations (MPO) connected with that Registered Participantβs registered Bid(s) calculated according to paragraphs 4 and 5 of this Article at the time of Bid(s) submission exceed the Credit Limit. If the maximum payment obligation connected with such registered Bids exceed the Credit Limit, the Allocation Platform shall issue automatically via the Auction Tool a warning to the Registered Participant to modify the BidsCredit Limit. Bids shall not be rejected automatically if the maximum payment obligation attributed to registered Bids exceeds the Credit Limit at Bid submission but only after the process described in paragraph 2 of this Article.
2. At closure of the Bidding Period the Allocation Platform shall check again whether the maximum payment obligations connected with registered Bids calculated according to paragraph 5 of this Article exceed the Credit Limit. If the maximum payment obligations connected with these Bids exceed the Credit Limit, these Bids, starting with the Bid with the lowest Bid Price, shall be one
one (1) by one (1) excluded, until the maximum payment obligations are less than or equal to the Credit Limit. The Allocation Platform may apply additional criteria or rules to decide which Bid shall be rejected. Such additional criteria or rules shall be included in the information System Rules and shall be one or more from the following:
(a) chronological submission (time stamp); and/or
(b) Bid identification assigned by the Auction Tool; and/or
(c) rejection of all relevant Bids with the same Bid Price.
3. The Allocation Platform shall indicate insufficient collaterals as the reason for the Bid exclusion in the Shadow Auction results notification to the Registered Participant.
4. The Allocation Platform shall continuously assess all the Bids irrespectively to which Shadow Auction and with regard to which Bidding Zone border and direction they are submitted. In case of Bids connected with various and overlapping Auctions the Allocation Platform shall consider all calculated maximum payment obligations as outstanding payment obligations according to Article 21.23
5. For the calculation of the maximum payment obligations related to one Bidding Zone border and direction the Allocation Platform shall sort the registered Bids of a Registered Participant by Bid Price in descending order (merit-order). Bid 1 shall be the Bid with the highest Bid Price and Bid n shall be the Bid with the lowest Bid Price. The Allocation Platform shall calculate the maximum payment obligations according to the following equation: πππ = β ππ΄π [π΅πππππππ(1) β π΅ππππ’πππ‘ππ‘π¦(1); π΅πππππππ(2) β β π΅ππποΏ½ οΏ½ (π’ποΏ½οΏ½π‘ππ‘π¦(π); (1); (2) β οΏ½ (β¦ πβ1 π β¦ ; π΅πππππππ(π β 1) β β β¦ =1 =1 =1π΅ππππ’πππ‘ππ‘π¦(π) ; π΅πππππππ(π) β β π΅ππππ’πππ‘ππ‘π¦(π)] π=1 π=1
6. When calculating the maximum payment oblthe following igations accoaccount:
(a) if applicable, for each individual hour of the Reduction Period the maximum quantity of Long Term Transmission Rights which can be allocated to the Registered Participant during the Reduction Period;
(b) rding to paragraph 5 of this Article, the Allocation Platform shall also take into account increase of the 65; and
(c) in respect of Long Term Transmission Rights with a Product Period of one (1) or more months, one (1) or two (2) monthly instalments respectively should be secured in compliance with due amount calculation according to Article 64(5)maximum payment obligations with applicable taxes and levies in force subject to Article 48.
Appears in 1 contract
Credit Limit verification. 1. Upon submission by a Registered Participant of a Bid or set of Bids to the Auction Tool the Allocation Platform shall check whether the maximum payment obligations (MPO) connected with that Registered Participantβs registered Bid(s) calculated according to paragraphs 4 and 5 of this Article at the time of Bid(s) submission exceed the Credit Limit. If the maximum payment obligation connected with such registered Bids exceed the Credit Limit, the Allocation Platform shall issue automatically via the Auction Tool a warning to the Registered Participant to modify the BidsCredit Limit. Bids shall not be rejected automatically if the maximum payment obligation attributed to registered Bids exceeds the Credit Limit at Bid submission but only after the process described in paragraph 2 of this Article.
2. At closure of the Bidding Period the Allocation Platform shall check again whether the maximum payment obligations connected with registered Bids calculated according to paragraph 5 of this Article exceed the Credit Limit. If the maximum payment obligations connected with these Bids exceed the Credit Limit, these Bids, starting with the Bid with the lowest Bid Price, shall be one
(1) by one (1) excluded, until the maximum payment obligations are less than or equal to the Credit Limit. The Allocation Platform may apply additional criteria or rules to decide which Bid shall be rejected. Such additional criteria or rules shall be included in the information System Rules and shall be one or more from the following:
a. chronological submission (time stamp); and/or
b. Bid identification assigned by the Auction Tool; and/or
c. rejection of all relevant Bids with the same Bid Price.
3. The Allocation Platform shall indicate insufficient collaterals as the reason for the Bid exclusion in the Shadow Auction results notification to the Registered Participant.
4. The Allocation Platform shall continuously assess all the Bids irrespectively to which Shadow Auction and with regard to which Bidding Zone bidding zone border and direction they are submitted. In case of Bids connected with various and overlapping Auctions the Allocation Platform shall consider all calculated maximum payment obligations as outstanding payment obligations according to Article 21.23
5. For the calculation of the maximum payment obligations related to one Bidding Zone bidding zone border and direction the Allocation Platform shall sort the registered Bids of a Registered Participant by Bid Price in descending order (merit-order). Bid 1 shall be the Bid with the highest Bid Price and Bid n shall be the Bid with the lowest Bid Price. The Allocation Platform shall calculate the maximum payment obligations according to the following equation: πππβππ’ππ β = β ππ΄π [π΅πππππππ(1) βπ΅ππ ππ’πππ‘ππ‘π¦ (π π΅ππππ’πβ¦ β¦ ; π΅ππ πππππ (π β 1) πβ1 π β β π΅ππ ππ’πππ‘ππ‘π¦ (π); π΅ππ πππππ (πππ‘ππ‘π¦(1); π΅πππππππ(2) β β π΅ππππ’πππ‘ππ‘π¦(π); β¦ πβ1 π β¦ ; π΅πππππππ(ππ΅ππ ππ’πππ‘ππ‘π¦ (π β 1) β β π΅ππππ’πππ‘ππ‘π¦(π) ; π΅πππππππ(π) β β π΅ππππ’πππ‘ππ‘π¦(π)] π=1 π=1
6. When calculating the maximum payment oblthe following igations accoaccount:
a. if applicable, for each individual hour of the Reduction Period the maximum quantity of Long Term Transmission Rights which can be allocated to the Registered Participant during the Reduction Period;
b. rding to paragraph 5 of this Article, the Allocation Platform shall also take into account increase of the 64; and
c. in respect of Long Term Transmission Rights with a Product Period of one (1) or more months, one (1) or two (2) monthly instalments respectively should be secured in compliance with due amount calculation according to Article 63(5)maximum payment obligations with applicable taxes and levies in force subject to Article 48.
Appears in 1 contract
Credit Limit verification. 1. Upon submission by a Registered Participant of a Bid or set of Bids to the Auction Tool the Allocation Platform shall check whether the maximum payment obligations (MPO) connected with that Registered Participantβs registered Bid(s) calculated according to paragraphs 4 and 5 of this Article at the time of Bid(s) submission exceed the Credit Limit. If the maximum payment obligation connected with such registered Bids exceed the Credit Limit, the Allocation Platform shall issue automatically via the Auction Tool a warning to the Registered Participant to modify the BidsCredit Limit. Bids shall not be rejected automatically if the maximum payment obligation attributed to registered Bids exceeds the Credit Limit at Bid submission but only after the process described in paragraph 2 of this Article.
2. At closure of the Bidding Period the Allocation Platform shall check again whether the maximum payment obligations connected with registered Bids calculated according to paragraph 5 of this Article exceed the Credit Limit. If the maximum payment obligations connected with these Bids exceed the Credit Limit, these Bids, starting with the Bid with the lowest Bid Price, shall be one
one (1) by one (1) excluded, until the maximum payment obligations are less than or equal to the Credit Limit. The Allocation Platform may apply additional criteria or rules to decide which Bid shall be rejected. Such additional criteria or rules shall be included in the information System Rules and shall be one or more from the following:
(a) chronological submission (time stamp); and/or
(b) Bid identification assigned by the Auction Tool; and/or
(c) rejection of all relevant Bids with the same Bid Price.
3. The Allocation Platform shall indicate insufficient collaterals as the reason for the Bid exclusion in the Shadow Auction results notification to the Registered Participant.
4. The Allocation Platform shall continuously assess all the Bids irrespectively to which Shadow Auction and with regard to which Bidding Zone border and direction they are submitted. In case of Bids connected with various and overlapping Auctions the Allocation Platform shall consider all calculated maximum payment obligations as outstanding payment obligations according to Article 21.23
5. For the calculation of the maximum payment obligations related to one Bidding Zone border and direction the Allocation Platform shall sort the registered Bids of a Registered Participant by Bid Price in descending order (merit-order). Bid 1 shall be the Bid with the highest Bid Price and Bid n shall be the Bid with the lowest Bid Price. The Allocation Platform shall calculate the maximum payment obligations according to the following equation: πππ = β ππ΄π [π΅π[ (1ππππππ(1) β(1 π΅ππππ’π(2ππ‘ππ‘π¦(1); π΅ποΏ½() οΏ½ποΏ½οΏ½πππ(2) β β π΅πππ=1 =οΏ½οΏ½πππ‘ππ‘π¦(π); β¦ πβ1 π β¦ ; π΅πππππππ(π β 1) β β π΅ππππ’πππ‘ππ‘π¦(π) ; π΅πππππππ(π) β β π΅ππππ’πππ‘ππ‘π¦(π)] π=1 π=1
6. When calculating the maximum payment oblthe following igations accoaccount:
(a) if applicable, for each individual hour of the Reduction Period the maximum quantity of Long Term Transmission Rights which can be allocated to the Registered Participant during the Reduction Period;
(b) rding to paragraph 5 of this Article, the Allocation Platform shall also take into account increase of the 64; and
(c) in respect of Long Term Transmission Rights with a Product Period of one (1) or more months, one (1) or two (2) monthly instalments respectively should be secured in compliance with due amount calculation according to Article 63(5)maximum payment obligations with applicable taxes and levies in force subject to Article 48.
Appears in 1 contract
Samples: Access Rules
Credit Limit verification. 1. Upon submission by a Registered Participant of a Bid or set of Bids to the Auction Tool the Allocation Platform shall check whether the maximum payment obligations (MPO) connected with that Registered Participantβs registered Bid(s) calculated according to paragraphs 3 and 4 and 5 of this Article at the time of Bid(s) submission exceed the Credit Limit. If the maximum payment obligation connected with such registered Bids exceed the Credit Limit, the Allocation Platform shall issue automatically via the Auction Tool a warning to the Registered Participant to modify the BidsCredit Limit. Bids shall not be rejected automatically if the maximum payment obligation attributed to registered Bids exceeds the Credit Limit at Bid submission but only after the process described in paragraph 2 of this Article.
2. At closure of the Bidding Period the Allocation Platform shall check again whether the maximum payment obligations connected with registered Bids calculated according to paragraph 5 4 of this Article exceed the Credit Limit. If the maximum payment obligations connected with these Bids exceed the Credit Limit, these Bids, starting with the Bid with the lowest Bid Price, shall be one
one (1) by one (1) excluded, until the maximum payment obligations are less than or equal to the Credit Limit. The Allocation Platform may apply additional criteria or rules to decide which Bid shall be rejected. Such additional criteria or rules shall be included in the information System Rules and shall be one or more from the following:
(a) chronological submission (time stamp); and/or
(b) Bid identification assigned by the Auction Tool; and/or
(c) rejection of all relevant Bids with the same Bid Price.
3. The Allocation Platform shall indicate insufficient collaterals as the reason for the Bid exclusion in the Shadow Auction results notification to the Registered Participant.
4. The Allocation Platform shall continuously assess all the Bids irrespectively to which Shadow Auction and with regard to which Bidding Zone border and direction they are submitted. In case of Bids connected with various and overlapping Auctions the Allocation Platform shall consider all calculated maximum payment obligations as outstanding payment obligations according to Article 21.
5. For the calculation of the maximum payment obligations related to one Bidding Zone border and direction the Allocation Platform shall sort the registered Bids of a Registered Participant by Bid Price in descending order (merit-order). Bid 1 shall be the Bid with the highest Bid Price and Bid n shall be the Bid with the lowest Bid Price. The Allocation Platform shall calculate the maximum payment obligations according to the following equation: πππ = β ππ΄π [π΅πππππππ(1) β π΅ππππ’πππ‘ππ‘π¦(1); π΅πππππππ(2) β β π΅ππππ’πππ‘ππ‘π¦(π); β¦ πβ1 π β¦ ; π΅πππππππ(π β 1) β β π΅ππππ’πππ‘ππ‘π¦(π) ; π΅πππππππ(π) β β π΅ππππ’πππ‘ππ‘π¦(π)] π=1 π=1
6. When calculating the maximum payment obligations according to paragraph 5 of this Article, the Allocation Platform shall also take into account increase of the m:aximum payment obligations with applicable taxes and levies in force subject to Article 48.
Appears in 1 contract
Samples: Daily Capacity Allocation Agreement
Credit Limit verification. 1. Upon submission by a Registered Participant of a Bid or set of Bids to the Auction Tool the Allocation Platform shall check whether the maximum payment obligations (MPO) connected with that Registered Participantβs registered Bid(s) calculated according to paragraphs paragraph 4 and 5 of this Article at the time of Bid(s) submission exceed the Credit Limit. If the maximum payment obligation connected with such the registered Bids exceed the Credit Limit, the Allocation Platform shall issue automatically via the Auction Tool a warning to the Registered Participant to modify the BidsCredit Limit. Bids shall not be rejected automatically if the maximum payment obligation attributed to registered Bids exceeds the Credit Limit at Bid submission but only after the process described in paragraph 2 of this Article.
2. At closure of the Bidding Period the Allocation Platform shall check confirm again whether the maximum payment obligations connected with registered Bids calculated according to paragraph 5 of this Article exceed the Credit Limit. If the maximum payment obligations connected with these Bids exceed the Credit Limit, these Bids, starting with the Bid with the lowest Bid PriceValue, shall be one
(1) by one (1) excluded, until the maximum payment obligations are less than or equal to the Credit Limit. The Allocation Platform may apply additional criteria or rules to decide which Bid shall be rejected. Such additional criteria or rules shall be included in the information System Rules and shall be one or more from the following:
a. chronological submission (time stamp); and/or
b. Bid identification assigned by the Auction Tool; and/or
c. rejection of all relevant Bids with the same Bid Price.
3. The Allocation Platform shall indicate the insufficient collaterals as the reason for the Bid exclusion in the Shadow Auction results notification to the Registered Participant.
4. The Allocation Platform shall continuously assess all the Bids irrespectively to which Shadow Auction and with regard to which Bidding Zone border and direction they are submitted. In case of Bids connected with various and overlapping Auctions the Allocation Platform shall consider all calculated maximum payment obligations as outstanding payment obligations according to Article 21.
5. For the calculation of the maximum payment obligations obligation (MPO) related to one Bidding Zone border and direction the Allocation Platform shall sort the registered Bids of a Registered Participant by Bid Price in descending order (merit-order). Bid 1 shall be the Bid with the highest Bid Price and Bid n Bidn shall be the Bid with the lowest Bid Price. The Allocation Platform shall calculate the maximum payment obligations obligation according to the following equation: πππβππ’ππ β = β ππ΄π [π΅πππππππ(1) βπ΅ππ ππ’πππ‘ππ‘π¦ (π π΅ππππ’πβ¦ β¦ ; π΅ππ πππππ (π β 1) πβ1 π β β π΅ππ ππ’πππ‘ππ‘π¦ (π); π΅ππ πππππ (πππ‘ππ‘π¦(1); π΅πππππππ(2) β β π΅ππππ’πππ‘ππ‘π¦(π); β¦ πβ1 π β¦ ; π΅πππππππ(ππ΅ππ ππ’πππ‘ππ‘π¦ (π β 1) β β π΅ππππ’πππ‘ππ‘π¦(π) ; π΅πππππππ(π) β β π΅ππππ’πππ‘ππ‘π¦(π)] π=1 π=1
6. When calculating the maximum payment obligations accothe rding to paragraph 5 of this Article, the Allocation Platform shall also take into account increase of the forcemaximum payment obligations with applicable taxes and levies in force subject to Article 48.
Appears in 1 contract
Credit Limit verification. 1. Upon submission by a Registered Participant of a Bid or set of Bids to the Auction Tool the Allocation Platform shall check whether the maximum payment obligations (MPO) connected with that Registered Participantβs registered Bid(s) calculated according to paragraphs 4 and 5 of this Article at the time of Bid(s) submission exceed the Credit Limit. If the maximum payment obligation connected with such registered Bids exceed the Credit Limit, the Allocation Platform shall issue automatically via the Auction Tool a warning to the Registered Participant to modify the BidsCredit Limit. Bids shall not be rejected automatically if the maximum payment obligation attributed to registered Bids exceeds the Credit Limit at Bid submission but only after the process described in paragraph 2 of this Article.
2. At closure of the Bidding Period the Allocation Platform shall check again whether the maximum payment obligations connected with registered Bids calculated according to paragraph 5 of this Article exceed the Credit Limit. If the maximum payment obligations connected with these Bids exceed the Credit Limit, these Bids, starting with the Bid with the lowest Bid Price, shall be one
one (1) by one (1) excluded, until the maximum payment obligations are less than or equal to the Credit Limit. The Allocation Platform may apply additional criteria or rules to decide which Bid shall be rejected. Such additional criteria or rules shall be included in the information System Rules and shall be one or more from the following:
(a) chronological submission (time stamp); and/or
(b) Bid identification assigned by the Auction Tool; and/or
(c) rejection of all relevant Bids with the same Bid Price.
3. The Allocation Platform shall indicate insufficient collaterals as the reason for the Bid exclusion in the Shadow Auction results notification to the Registered Participant.
4. The Allocation Platform shall continuously assess all the Bids irrespectively to which Shadow Auction and with regard to which Bidding Zone border and direction they are submitted. In case of Bids connected with various and overlapping Auctions the Allocation Platform shall consider all calculated maximum payment obligations as outstanding payment obligations according to Article 21.
5. For the calculation of the maximum payment obligations related to one Bidding Zone border and direction the Allocation Platform shall sort the registered Bids of a Registered Participant by Bid Price in descending order (merit-order). Bid 1 shall be the Bid with the highest Bid Price and Bid n shall be the Bid with the lowest Bid Price. The Allocation Platform shall calculate the maximum payment obligations according to the following equation: πππ = β οΏ½πππ₯ οΏ½π΄π [π΅ππ΅ππ πππππ (1ππππππ(1) βπ΅ππ ππ’πππ‘ππ‘π¦ (1 π΅ππππ’ππ΅ππ πππππ (2ππ‘ππ‘π¦(1); π΅ποΏ½π΅ππ ππ’πππ‘ππ‘π¦ (π) οΏ½ποΏ½οΏ½πππ(2) β β π΅ππππ’πππ‘ππ‘π¦(π); β¦ πβ1 π β¦ ; π΅πππππππ(π β 1) β β π΅ππππ’πππ‘ππ‘π¦(π) ; π΅πππππππ(π) β β π΅ππππ’πππ‘ππ‘π¦(π)] π=1 π=1
6. When calculating the maximum payment obligations according to paragraph 5 of this Article, the Allocation Platform shall also take into account increase of the 52maximum payment obligations with applicable taxes and levies in force subject to Article 48.
Appears in 1 contract
Samples: Rules for Daily Capacity Allocation
Credit Limit verification. 1. Upon submission by a Registered Participant of a Bid or set of Bids to the Auction Tool the Allocation Platform shall check whether the maximum payment obligations (MPO) connected with that Registered Participantβs registered Bid(s) calculated according to paragraphs 4 and 5 of this Article at the time of Bid(s) submission exceed the Credit Limit. If the maximum payment obligation connected with such registered Bids exceed the Credit Limit, the Allocation Platform shall issue automatically via the Auction Tool a warning to the Registered Participant to modify the BidsCredit Limit. Bids shall not be rejected automatically if the maximum payment obligation attributed to registered Bids exceeds the Credit Limit at Bid submission but only after the process described in paragraph 2 of this Article.
2. At closure of the Bidding Period the Allocation Platform shall check again whether the maximum payment obligations connected with registered Bids calculated according to paragraph 5 of this Article exceed the Credit Limit. If the maximum payment obligations connected with these Bids exceed the Credit Limit, these Bids, starting with the Bid with the lowest Bid Price, shall be one
one (1) by one (1) excluded, until the maximum payment obligations are less than or equal to the Credit Limit. The Allocation Platform may apply additional criteria or rules to decide which Bid shall be rejected. Such additional criteria or rules shall be included in the information System Rules and shall be one or more from the following:
(a) chronological submission (time stamp); and/or
(b) Bid identification assigned by the Auction Tool; and/or
(c) rejection of all relevant Bids with the same Bid Price.
3. The Allocation Platform shall indicate insufficient collaterals as the reason for the Bid exclusion in the Shadow Auction results notification to the Registered Participant.
4. The Allocation Platform shall continuously assess all the Bids irrespectively to which Shadow Auction and with regard to which Bidding Zone border and direction they are submitted. In case of Bids connected with various and overlapping Auctions the Allocation Platform shall consider all calculated maximum payment obligations as outstanding payment obligations according to Article 21.
5. For the calculation of the maximum payment obligations related to one Bidding Zone border and direction the Allocation Platform shall sort the registered Bids of a Registered Participant by Bid Price in descending order (merit-order). Bid 1 shall be the Bid with the highest Bid Price and Bid n shall be the Bid with the lowest Bid Price. The Allocation Platform shall calculate the maximum payment obligations according to the following equation: πππ = β οΏ½πππ₯ οΏ½π΄π [π΅ππ΅ππ πππππ (1ππππππ(1) βπ΅ππ ππ’πππ‘ππ‘π¦ (1 π΅ππππ’ππ΅ππ πππππ (2ππ‘ππ‘π¦(1); π΅ποΏ½π΅ππ ππ’πππ‘ππ‘π¦ (π) οΏ½ποΏ½βππ’ππ π=1 οΏ½πππ(2) β β π΅πππ΅ππ πππππ (π ππ’πποΏ½οΏ½ππ‘π¦(π); π΅ππ ππ’πππ‘ππ‘π¦ (πβ¦ πβ1 π β¦ ; π΅ππ πππππ (ππ΅πππππππ(ππ΅ππ ππ’πππ‘ππ‘π¦ (π β 1) β β π΅ππππ’πππ‘ππ‘π¦(π) ; π΅πππππππ(π) β β π΅ππππ’πππ‘ππ‘π¦(π)] π=1 π=1
6. When calculating the maximum payment obligations according to paragraph 5 of this Article, the Allocation Platform shall also take into account increase of the 52maximum payment obligations with applicable taxes and levies in force subject to Article 48.
Appears in 1 contract
Samples: Rules for Daily Capacity Allocation
Credit Limit verification. 1. Upon submission by a Registered Participant of a Bid or set of Bids to the Auction Tool the Allocation Platform shall check whether the maximum payment obligations (MPO) connected with that Registered Participantβs registered Bid(s) calculated according to paragraphs 4 and 5 of this Article at the time of Bid(s) submission exceed the Credit Limit. If the maximum payment obligation connected with such the registered Bids exceed the Credit Limit, the Allocation Platform shall issue automatically via the Auction Tool a warning to the Registered Participant to modify the BidsCredit Limit. Bids shall not be rejected automatically if the maximum payment obligation attributed to registered Bids exceeds the Credit Limit at Bid submission but only after the process described in paragraph 2 of this Article.
2. At closure of the Bidding Period the Allocation Platform shall check again whether the maximum payment obligations connected with registered Bids calculated according to paragraph 5 of this Article exceed the Credit Limit. If the maximum payment obligations connected with these Bids exceed the Credit Limit, these Bids, starting with the Bid with the lowest Bid PriceValue, shall be one
one (1) by one (1) excluded, until the maximum payment obligations are less than or equal to the Credit Limit.
3. The Allocation Platform shall indicate the insufficient collaterals as the reason for the Bid exclusion in the Shadow Auction results notification to the Registered Participant.
4. The Allocation Platform shall continuously assess all the Bids irrespectively to which Shadow Auction and with regard to which Bidding Zone border and direction they are submitted. In case of Bids connected with various and overlapping Auctions the Allocation Platform shall consider all calculated maximum payment obligations as outstanding payment obligations according to Article 21.
5. For the calculation of the maximum payment obligations obligation (MPO) related to one Bidding Zone border and direction the Allocation Platform shall sort the registered Bids of a Registered Participant by Bid Price in descending order (merit-order). Bid 1 shall be the Bid with the highest Bid Price and Bid n shall be the Bid with the lowest Bid Price. The Allocation Platform shall calculate the maximum payment obligations obligation according to the following equation: πππ = β οΏ½πππ₯ οΏ½π΄π [π΅ππ΅ππ πππππ (1ππππππ(1) βπ΅ππ ππ’πππ‘ππ‘π¦ (1 π΅ππππ’ππ΅ππ πππππ (2ππ‘ππ‘π¦(1); π΅ππ΅ππ ππ’πππ‘ππ‘π¦ (ππποΏ½βππ’ππ π=1 οΏ½πππ(2) β β π΅πππ΅ππ πππππ (π ππ’πποΏ½οΏ½ππ‘π¦(π); β¦ π΅ππ ππ’πππ‘ππ‘π¦ (π)πβ1 π β¦ ; π΅ππ πππππ (ππ΅πππππππ(ππ΅ππ ππ’πππ‘ππ‘π¦ (π β 1) β β π΅ππππ’πππ‘ππ‘π¦(π) ; π΅πππππππ(π) β β π΅ππππ’πππ‘ππ‘π¦(π)] π=1 π=1
6. When calculating the maximum payment obligations accothe rding to paragraph 5 of this Article, the Allocation Platform shall also take into account increase of the 50maximum payment obligations with applicable taxes and levies in force subject to Article 48.
Appears in 1 contract
Samples: Eleclink Day Ahead Allocation Rules
Credit Limit verification. 1. Upon submission by a Registered Participant of a Bid or set of Bids to the Auction Tool the Allocation Platform shall check whether the maximum payment obligations (MPO) connected with that Registered Participantβs registered Bid(s) calculated according to paragraphs 4 and 5 of this Article at the time of Bid(s) submission exceed the Credit Limit. If the maximum payment obligation connected with such registered Bids exceed the Credit Limit, the Allocation Platform shall issue automatically via the Auction Tool a warning to the Registered Participant to modify the BidsCredit Limit. Bids shall not be rejected automatically if the maximum payment obligation attributed to registered Bids exceeds the Credit Limit at Bid submission but only after the process described in paragraph 2 of this Article.
2. At closure of the Bidding Period the Allocation Platform shall check again whether the maximum payment obligations connected with registered Bids calculated according to paragraph 5 of this Article exceed the Credit Limit. If the maximum payment obligations connected with these Bids exceed the Credit Limit, these Bids, starting with the Bid with the lowest Bid Price, shall be one
one (1) by one (1) excluded, until the maximum payment obligations are less than or equal to the Credit Limit. The Allocation Platform may apply additional criteria or rules to decide which Bid shall be rejected. Such additional criteria or rules shall be included in the information System Rules and shall be one or more from the following:
(a) chronological submission (time stamp); and/or
(b) Bid identification assigned by the Auction Tool; and/or
(c) rejection of all relevant Bids with the same Bid Price.
3. The Allocation Platform shall indicate insufficient collaterals as the reason for the Bid exclusion in the Shadow Auction results notification to the Registered Participant.
4. The Allocation Platform shall continuously assess all the Bids irrespectively to which Shadow Auction and with regard to which Bidding Zone border and direction they are submitted. In case of Bids connected with various and overlapping Auctions the Allocation Platform shall consider all calculated maximum payment obligations as outstanding payment obligations according to Article 21.
5. For the calculation of the maximum payment obligations related to one Bidding Zone border and direction the Allocation Platform shall sort the registered Bids of a Registered Participant by Bid Price in descending order (merit-order). Bid 1 shall be the Bid with the highest Bid Price and Bid n shall be the Bid with the lowest Bid Price. The Allocation Platform shall calculate the maximum payment obligations according to the following equation: πππ = β οΏ½πππ₯ οΏ½π΄π [π΅ππ΅πππππππ (1ππππππ(1) βπ΅ππππ’πππ‘ππ‘π¦ (1 π΅ππππ’ππ΅πππππππ (2ππ‘ππ‘π¦(1); π΅ποΏ½π΅ππππ’πππ‘ππ‘π¦ (π) οΏ½ποΏ½οΏ½πποΏ½οΏ½(2) β β π΅πππ΅πππππππ (π ππ’πποΏ½οΏ½ππ‘π¦(π); π΅ππππ’πππ‘ππ‘π¦ (πβ¦ πβ1 π β¦ ; π΅πππππππ (ππ΅πππππππ(ππ΅ππππ’πππ‘ππ‘π¦ (π β 1) β β π΅ππππ’πππ‘ππ‘π¦(π) ; π΅πππππππ(π) β β π΅ππππ’πππ‘ππ‘π¦(π)] π=1 π=1
6. When calculating the maximum payment obligations according to paragraph 5 of this Article, the Allocation Platform shall also take into account increase of the 52maximum payment obligations with applicable taxes and levies in force subject to Article 48.
Appears in 1 contract
Samples: Capacity Allocation Agreement
Credit Limit verification. 1. Upon submission by a Registered Participant of a Bid or set of Bids to the Auction Tool the Allocation Platform shall check whether the maximum payment obligations (MPO) connected with that Registered Participantβs registered Bid(s) calculated according to paragraphs 4 and 5 of this Article at the time of Bid(s) submission exceed the Credit Limit. If the maximum payment obligation connected with such registered Bids exceed the Credit Limit, the Allocation Platform shall issue automatically via the Auction Tool a warning to the Registered Participant to modify the BidsCredit Limit. Bids shall not be rejected automatically if the maximum payment obligation attributed to registered Bids exceeds the Credit Limit at Bid submission but only after the process described in paragraph 2 of this Article.
2. At closure of the Bidding Period the Allocation Platform shall check again whether the maximum payment obligations connected with registered Bids calculated according to paragraph 5 of this Article exceed the Credit Limit. If the maximum payment obligations connected with these Bids exceed the Credit Limit, these Bids, starting with the Bid with the lowest Bid Price, shall be one
one (1) by one (1) excluded, until the maximum payment obligations are less than or equal to the Credit Limit. The Allocation Platform may apply additional criteria or rules to decide which Bid shall be rejected. Such additional criteria or rules shall be included in the information System Rules and shall be one or more from the following:
(a) chronological submission (time stamp); and/or
(b) Bid identification assigned by the Auction Tool; and/or
(c) rejection of all relevant Bids with the same Bid Price.
3. The Allocation Platform shall indicate insufficient collaterals as the reason for the Bid exclusion in the Shadow Auction results notification to the Registered Participant.
4. The Allocation Platform shall continuously assess all the Bids irrespectively to which Shadow Auction and with regard to which Bidding Zone border and direction they are submitted. In case of Bids connected with various and overlapping Auctions the Allocation Platform shall consider all calculated maximum payment obligations as outstanding payment obligations according to Article 21.23
5. For the calculation of the maximum payment obligations related to one Bidding Zone border and direction the Allocation Platform shall sort the registered Bids of a Registered Participant by Bid Price in descending order (merit-order). Bid 1 shall be the Bid with the highest Bid Price and Bid n shall be the Bid with the lowest Bid Price. The Allocation Platform shall calculate the maximum payment obligations according to the following equation: πππ = β ππ΄π [π΅π[ (1ππππππ(1) β(1 π΅ππππ’π(2ππ‘ππ‘π¦(1); π΅ποΏ½() οΏ½ποΏ½οΏ½πποΏ½οΏ½(2) β β π΅ππ( ππ’πποΏ½οΏ½ππ‘π¦(π); (β¦ πβ1 π β¦ ; (π΅πππππππ(π( β 1) β β =1 =1π΅ππππ’πππ‘ππ‘π¦(π) ; π΅πππππππ(π) β β π΅ππππ’πππ‘ππ‘π¦(π)] π=1 π=1
6. When calculating the maximum payment oblthe following igations accoaccount:
(a) if applicable, for each individual hour of the Reduction Period the maximum quantity of Long Term Transmission Rights which can be allocated to the Registered Participant during the Reduction Period;
(b) rding to paragraph 5 of this Article, the Allocation Platform shall also take into account increase of the 64; and
(c) in respect of Long Term Transmission Rights with a Product Period of one (1) or more months, one (1) or two (2) monthly instalments respectively should be secured in compliance with due amount calculation according to Article 63(5)maximum payment obligations with applicable taxes and levies in force subject to Article 48.
Appears in 1 contract
Credit Limit verification. 1. Upon submission by a Registered Participant of a Bid or set of Bids to the Auction Tool the Allocation Platform shall check whether the maximum payment obligations (MPO) connected with that Registered Participantβs registered Bid(s) calculated according to paragraphs 4 and 5 of this Article at the time of Bid(s) submission exceed the Credit Limit. If the maximum payment obligation connected with such registered Bids exceed the Credit Limit, the Allocation Platform shall issue automatically via the Auction Tool a warning to the Registered Participant to modify the BidsCredit Limit. Bids shall not be rejected automatically if the maximum payment obligation attributed to registered Bids exceeds the Credit Limit at Bid submission but only after the process described in paragraph 2 of this Article.
2. At closure of the Bidding Period the Allocation Platform shall check again whether the maximum payment obligations connected with registered Bids calculated according to paragraph 5 of this Article exceed the Credit Limit. If the maximum payment obligations connected with these Bids exceed the Credit Limit, these Bids, starting with the Bid with the lowest Bid Price, shall be one
one (1) by one (1) excluded, until the maximum payment obligations are less than or equal to the Credit Limit. The Allocation Platform may apply additional criteria or rules to decide which Bid shall be rejected. Such additional criteria or rules shall be included in the information System Rules and shall be one or more from the following:
(a) chronological submission (time stamp); and/or
(b) Bid identification assigned by the Auction Tool; and/or
(c) rejection of all relevant Bids with the same Bid Price.
3. The Allocation Platform shall indicate insufficient collaterals as the reason for the Bid exclusion in the Shadow Auction results notification to the Registered Participant.
4. The Allocation Platform shall continuously assess all the Bids irrespectively to which Shadow Auction and with regard to which Bidding Zone border and direction they are submitted. In case of Bids connected with various and overlapping Auctions the Allocation Platform shall consider all calculated maximum payment obligations as outstanding payment obligations according to Article 21.
5. For the calculation of the maximum payment obligations related to one Bidding Zone border and direction the Allocation Platform shall sort the registered Bids of a Registered Participant by Bid Price in descending order (merit-order). Bid 1 shall be the Bid with the highest Bid Price and Bid n shall be the Bid with the lowest Bid Price. The Allocation Platform shall calculate the maximum payment obligations according to the following equation: πππ = β ππ΄π [π΅πππππππ(1) β π΅ππππ’πππ‘ππ‘π¦(1); π΅ππποΏ½οΏ½πποΏ½οΏ½(2) β β π΅ππππ’πππ‘ππ‘π¦(π); β¦ πβ1 π β¦ ; π΅πππππππ(π β 1) β β π΅ππππ’πππ‘ππ‘π¦(π) ; π΅πππππππ(π) β β π΅ππππ’πππ‘ππ‘π¦(π)] π=1 π=1
6. When calculating the maximum payment obligations according to paragraph 5 of this Article, the Allocation Platform shall also take into account increase of the 52maximum payment obligations with applicable taxes and levies in force subject to Article 48.
Appears in 1 contract
Credit Limit verification. 1. Upon submission by a Registered Participant of a Bid or set of Bids to the Auction Tool the Allocation Platform shall check whether the maximum payment obligations (MPO) connected with that Registered Participantβs registered Bid(s) calculated according to paragraphs 3 and 4 and 5 of this Article at the time of Bid(s) submission exceed the Credit Limit. If the maximum payment obligation connected with such registered Bids exceed the Credit Limit, the Allocation Platform shall issue automatically via the Auction Tool a warning to the Registered Participant to modify the BidsCredit Limit. Bids shall not be rejected automatically if the maximum payment obligation attributed to registered Bids exceeds the Credit Limit at Bid submission but only after the process described in paragraph 2 of this Article.
2. At closure of the Bidding Period the Allocation Platform shall check again whether the maximum payment obligations connected with registered Bids calculated according to paragraph 5 4 of this Article exceed the Credit Limit. If the maximum payment obligations connected with these Bids exceed the Credit Limit, these Bids, starting with the Bid with the lowest Bid Price, shall be one
one (1) by one (1) excluded, until the maximum payment obligations are less than or equal to the Credit Limit. The Allocation Platform may apply additional criteria or rules to decide which Bid shall be rejected. Such additional criteria or rules shall be included in the information System Rules and shall be one or more from the following:
(a) chronological submission (time stamp); and/or
(b) Bid identification assigned by the Auction Tool; and/or
(c) rejection of all relevant Bids with the same Bid Price.
3. The Allocation Platform shall indicate insufficient collaterals as the reason for the Bid exclusion in the Shadow Auction results notification to the Registered Participant.
4. The Allocation Platform shall continuously assess all the Bids irrespectively to which Shadow Auction and with regard to which Bidding Zone border and direction they are submitted. In case of Bids connected with various and overlapping Auctions the Allocation Platform shall consider all calculated maximum payment obligations as outstanding payment obligations according to Article 21.
5. For the calculation of the maximum payment obligations related to one Bidding Zone border and direction the Allocation Platform shall sort the registered Bids of a Registered Participant by Bid Price in descending order (merit-order). Bid 1 shall be the Bid with the highest Bid Price and Bid n shall be the Bid with the lowest Bid Price. The Allocation Platform shall calculate the maximum payment obligations according to the following equation: πππ = β οΏ½πππ₯ οΏ½π΄π [π΅ππ΅ππ πππππ (1ππππππ(1) βπ΅ππ ππ’πππ‘ππ‘π¦ (1 π΅ππππ’ππ΅ππ πππππ (2ππ‘ππ‘π¦(1); π΅ποΏ½π΅ππ ππ’πππ‘ππ‘π¦ (π) οΏ½ποΏ½οΏ½πποΏ½οΏ½(2) β β π΅πππ΅ππ πππππ (π ππ’πποΏ½οΏ½ππ‘π¦(π); π΅ππ ππ’πππ‘ππ‘π¦ (πβ¦ πβ1 π β¦ ; π΅ππ πππππ (ππ΅πππππππ(ππ΅ππ ππ’πππ‘ππ‘π¦ (π β 1) β β π΅ππππ’πππ‘ππ‘π¦(π) ; π΅πππππππ(π) β β π΅ππππ’πππ‘ππ‘π¦(π)] π=1 π=1
6. When calculating the maximum payment obligations accothe rding to paragraph 5 of this Article, the Allocation Platform shall also take into account increase of the forcemaximum payment obligations with applicable taxes and levies in force subject to Article 48.
Appears in 1 contract
Samples: Rules for Daily Capacity Allocation
Credit Limit verification. 1. Upon submission by a Registered Participant of a Bid or set of Bids to the Auction Tool the Allocation Platform shall check whether the maximum payment obligations (MPO) connected with that Registered Participantβs registered Bid(s) calculated according to paragraphs 3 and 4 and 5 of this Article at the time of Bid(s) submission exceed the Credit Limit. If the maximum payment obligation connected with such registered Bids exceed the Credit Limit, the Allocation Platform shall issue automatically via the Auction Tool a warning to the Registered Participant to modify the BidsCredit Limit. Bids shall not be rejected automatically if the maximum payment obligation attributed to registered Bids exceeds the Credit Limit at Bid submission but only after the process described in paragraph 2 of this Article.
2. At closure of the Bidding Period the Allocation Platform shall check again whether the maximum payment obligations connected with registered Bids calculated according to paragraph 5 4 of this Article exceed the Credit Limit. If the maximum payment obligations connected with these Bids exceed the Credit Limit, these Bids, starting with the Bid with the lowest Bid Price, shall be one
one (1) by one (1) excluded, until the maximum payment obligations are less than or equal to the Credit Limit. The Allocation Platform may apply additional criteria or rules to decide which Bid shall be rejected. Such additional criteria or rules shall be included in the information System Rules and shall be one or more from the following:
(a) chronological submission (time stamp); and/or
(b) Bid identification assigned by the Auction Tool; and/or
(c) rejection of all relevant Bids with the same Bid Price.
3. The Allocation Platform shall indicate insufficient collaterals as the reason for the Bid exclusion in the Shadow Auction results notification to the Registered Participant.
4. The Allocation Platform shall continuously assess all the Bids irrespectively to which Shadow Auction and with regard to which Bidding Zone border and direction they are submitted. In case of Bids connected with various and overlapping Auctions the Allocation Platform shall consider all calculated maximum payment obligations as outstanding payment obligations according to Article 21.
5. For the calculation of the maximum payment obligations related to one Bidding Zone border and direction the Allocation Platform shall sort the registered Bids of a Registered Participant by Bid Price in descending order (merit-order). Bid 1 shall be the Bid with the highest Bid Price and Bid n shall be the Bid with the lowest Bid Price. The Allocation Platform shall calculate the maximum payment obligations according to the following equation: πππ = β ππ΄π [π΅π[ (1ππππππ(1) β(1 π΅ππππ’π(2ππ‘ππ‘π¦(1); π΅ποΏ½() οΏ½ποΏ½οΏ½πποΏ½β =1 β1 οΏ½(2) β β π΅ππ( ππ’πποΏ½οΏ½ππ‘π¦(π); (β¦ πβ1 π β¦ ; (π΅πππππππ(π( β 1) β β =1 =1π΅ππππ’πππ‘ππ‘π¦(π) ; π΅πππππππ(π) β β π΅ππππ’πππ‘ππ‘π¦(οΏ½4 οΏ½)] π=1 π=1
6. When calculating the maximum payment obligations accothe rding to paragraph 5 of this Article, the Allocation Platform shall also take into account increase of the forcemaximum payment obligations with applicable taxes and levies in force subject to Article 48.
Appears in 1 contract
Samples: Rules for Daily Capacity Allocation
Credit Limit verification. β
1. Upon submission by a Registered Participant registered participant of a Bid bid or a set of Bids bids to the Auction Tool auction tool the Allocation Platform allocation platform shall check whether the maximum payment obligations (MPO) connected with that Registered Participantregistered participantβs registered Bid(sbid(s) calculated according to paragraphs 3 and 4 and 5 of this Article at the time of Bid(sbid(s) submission exceed the Credit Limitcredit limit. If the maximum payment obligation connected with such registered Bids exceed bids exceeds the Credit Limitcredit limit, the Allocation Platform allocation platform shall issue automatically via the Auction Tool auction tool a warning to the Registered Participant registered participant to modify the Bidscredit limit. Bids shall not be rejected automatically if the maximum payment obligation attributed to registered Bids bids exceeds the Credit Limit credit limit at Bid bid submission but only after the process described in paragraph 2 of this Article.
2. At closure of the Bidding Period bidding period the Allocation Platform allocation platform shall check again whether the maximum payment obligations connected with registered Bids bids calculated according to paragraph 5 4 of this Article exceed the Credit Limitcredit limit. If the maximum payment obligations connected with these Bids bids exceed the Credit Limitcredit limit, these Bidsbids, starting with the Bid bid with the lowest Bid Pricebid value, shall be one
one (1) by one (1) excluded, until the maximum payment obligations are less than or equal to the Credit Limitcredit limit.
3. The Allocation Platform allocation platform shall indicate insufficient collaterals as the reason for the Bid bid exclusion in the Shadow Auction auction results notification to the Registered Participantregistered participant.
4. The Allocation Platform allocation platform shall continuously assess all the Bids bids irrespectively to which Shadow Auction auction and with regard to which Bidding Zone oriented bidding zone border and direction they are submitted. In case of Bids bids connected with various and overlapping Auctions auctions the Allocation Platform allocation platform shall consider all calculated maximum payment obligations as outstanding payment obligations according to Article 21.
5. For the calculation of the maximum payment obligations related to one Bidding Zone each oriented bidding zone border and direction the Allocation Platform allocation platform shall sort the registered Bids bids of a Registered Participant registered participant by Bid Price bid value in descending order (merit-order). Bid 1 shall be the Bid bid with the highest Bid Price bid value and Bid bid n shall be the Bid bid with the lowest Bid Pricebid value. The Allocation Platform allocation platform shall calculate the maximum payment obligations according to the following equation: πππ = β ππ΄π [π΅ποΏ½ πππ₯ οΏ½π΅ππ πππππ(1ππππππ(1) βπ΅ππ πππ’πππ‘ππ‘π¦(1 π΅ππππ’ππ΅ππ πππππ(2) πππ π=1 β οΏ½ π΅ππ πππ’πππ‘ππ‘π¦(π); π΅ππ πππππ(πππ‘ππ‘π¦(1); π΅ποΏ½ π΅ππ πππ’πππ‘ππ‘π¦(ποΏ½οΏ½πππππ(2) β β π΅ππππ’πππ‘ππ‘π¦(π); β¦ πβ1 π β¦ ; π΅πππππππ(π β 1) β β οΏ½π΅ππππ’πππ‘ππ‘π¦(π) ; π΅πππππππ(π) β β π΅ππππ’πππ‘ππ‘π¦(οΏ½4 οΏ½)] π=1 π=1
6. When calculating the maxallocation platform imum payment obligations accothe rding to paragraph 5 of this Article, the Allocation Platform shall also take into account increase of the forcemaximum payment obligations with applicable taxes and levies in force subject to Article 48.
Appears in 1 contract
Samples: Rules for Daily Capacity Allocation on Swiss Borders
Credit Limit verification. 1. Upon submission by a Registered Participant of a Bid or set of Bids to the Auction Tool the Allocation Platform shall check whether the maximum payment obligations (MPO) connected with that Registered Participantβs registered Bid(s) calculated according to paragraphs 4 and 5 of this Article at the time of Bid(s) submission exceed the Credit Limit. If the maximum payment obligation connected with such registered Bids exceed the Credit Limit, the Allocation Platform shall issue automatically via the Auction Tool a warning to the Registered Participant to modify the BidsCredit Limit. Bids shall not be rejected automatically if the maximum payment obligation attributed to registered Bids exceeds the Credit Limit at Bid submission but only after the process described in paragraph 2 of this Article.
2. At closure of the Bidding Period the Allocation Platform shall check again whether the maximum payment obligations connected with registered Bids calculated according to paragraph 5 of this Article exceed the Credit Limit. If the maximum payment obligations connected with these Bids exceed the Credit Limit, these Bids, starting with the Bid with the lowest Bid Price, shall be one
one (1) by one (1) excluded, until the maximum payment obligations are less than or equal to the Credit Limit. The Allocation Platform may apply additional criteria or rules to decide which Bid shall be rejected. Such additional criteria or rules shall be included in the information System Rules and shall be one or more from the following:
(a) chronological submission (time stamp); and/or
(b) Bid identification assigned by the Auction Tool; and/or
(c) rejection of all relevant Bids with the same Bid Price.
3. The Allocation Platform shall indicate insufficient collaterals as the reason for the Bid exclusion in the Shadow Auction results notification to the Registered Participant.
4. The Allocation Platform shall continuously assess all the Bids irrespectively to which Shadow Auction and with regard to which Bidding Zone bidding zone border and direction they are submitted. In case of Bids connected with various and overlapping Auctions the Allocation Platform shall consider all calculated maximum payment obligations as outstanding payment obligations according to Article 21.23
5. For the calculation of the maximum payment obligations related to one Bidding Zone bidding zone border and direction the Allocation Platform shall sort the registered Bids of a Registered Participant by Bid Price in descending order (merit-order). Bid 1 shall be the Bid with the highest Bid Price and Bid n shall be the Bid with the lowest Bid Price. The Allocation Platform shall calculate the maximum payment obligations according to the following equation: ππ2 MPO π = β ππ΄π [π΅πL Max Bid Price(1)βBidQuantity(1); Bid Price(2)β LBidQuantity(i);β¦ hours i=1 n-1 n β¦ ; Bid Price (n β 1)βL Bid Quantity (i) ; Bid Price (nππππππ(1) βL Bid Quantity (i π΅ππππ’πππ‘ππ‘π¦(1); π΅πππππππ(2) β β π΅ππππ’πππ‘ππ‘π¦(π); β¦ πβ1 π β¦ ; π΅πππππππ(π β 1) β β π΅ππππ’πππ‘ππ‘π¦(π) ; π΅πππππππ(π) β β π΅ππππ’πππ‘ππ‘π¦(π)] π=1 π=1
6. When calculating the maximum payment oblthe following igations accoaccount:
(a) if applicable, for each individual hour of the Reduction Period the maximum quantity of Long Term Transmission Rights which can be allocated to the Registered Participant during the Reduction Period;
(b) rding to paragraph 5 of this Article, the Allocation Platform shall also take into account increase of the 64; and
(c) in respect of Long Term Transmission Rights with a Product Period of one (1) or more months, one (1) or two (2) monthly instalments respectively should be secured in compliance with due amount calculation according to Article 63(5)maximum payment obligations with applicable taxes and levies in force subject to Article 48.
Appears in 1 contract
Credit Limit verification. 1. Upon submission by a Registered Participant of a Bid or set of Bids to the Auction Tool the Allocation Platform shall check whether the maximum payment obligations (MPO) connected with that Registered Participantβs registered Bid(s) calculated according to paragraphs 4 and 5 of this Article at the time of Bid(s) submission exceed the Credit Limit. If the maximum payment obligation connected with such registered Bids exceed the Credit Limit, the Allocation Platform shall issue automatically via the Auction Tool a warning to the Registered Participant to modify the BidsCredit Limit. Bids shall not be rejected automatically if the maximum payment obligation attributed to registered Bids exceeds the Credit Limit at Bid submission but only after the process described in paragraph 2 of this Article.
2. At closure of the Bidding Period the Allocation Platform shall check again whether the maximum payment obligations connected with registered Bids calculated according to paragraph 5 of this Article exceed the Credit Limit. If the maximum payment obligations connected with these Bids exceed the Credit Limit, these Bids, starting with the Bid with the lowest Bid Price, shall be one
one (1) by one (1) excluded, until the maximum payment obligations are less than or equal to the Credit Limit. The Allocation Platform may apply additional criteria or rules to decide which Bid shall be rejected. Such additional criteria or rules shall be included in the information System Rules and shall be one or more from the following:
(a) chronological submission (time stamp); and/or
(b) Bid identification assigned by the Auction Tool; and/or
(c) rejection of all relevant Bids with the same Bid Price.
3. The Allocation Platform shall indicate insufficient collaterals as the reason for the Bid exclusion in the Shadow Auction results notification to the Registered Participant.
4. The Allocation Platform shall continuously assess all the Bids irrespectively to which Shadow Auction and with regard to which Bidding Zone border and direction they are submitted. In case of Bids connected with various and overlapping Auctions the Allocation Platform shall consider all calculated maximum payment obligations as outstanding payment obligations according to Article 21.23
5. For the calculation of the maximum payment obligations related to one Bidding Zone border and direction the Allocation Platform shall sort the registered Bids of a Registered Participant by Bid Price in descending order (merit-order). Bid 1 shall be the Bid with the highest Bid Price and Bid n shall be the Bid with the lowest Bid Price. The Allocation Platform shall calculate the maximum payment obligations according to the following equation: πππ = β ππ΄π [π΅π[ (1ππππππ(1) β(1 π΅ππππ’π(2ππ‘ππ‘π¦(1); π΅ποΏ½() οΏ½ποΏ½οΏ½πππ(2) β β π΅πππ=1 =οΏ½οΏ½πππ‘ππ‘π¦(π); β¦ πβ1 π β¦ ; π΅πππππππ(π β 1) β β π΅ππππ’πππ‘ππ‘π¦(π) ; π΅πππππππ(π) β β π΅ππππ’πππ‘ππ‘π¦(π)] π=1 π=1
6. When calculating the maximum payment oblthe following igations accoaccount:
(a) if applicable, for each individual hour of the Reduction Period the maximum quantity of Long Term Transmission Rights which can be allocated to the Registered Participant during the Reduction Period;
(b) rding to paragraph 5 of this Article, the Allocation Platform shall also take into account increase of the 64; and
(c) in respect of Long Term Transmission Rights with a Product Period of one (1) or more months, one (1) or two (2) monthly instalments respectively should be secured in compliance with due amount calculation according to Article 63(5)maximum payment obligations with applicable taxes and levies in force subject to Article 48.
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Credit Limit verification. 1. Upon submission by a Registered Participant of a Bid or set of Bids to the Auction Tool the Allocation Platform shall check whether the maximum payment obligations (MPO) connected with that Registered Participantβs registered Bid(s) calculated according to paragraphs 4 and 54 and 5 of this Article at the time of Bid(s) submission exceed the Credit Limit. If the maximum payment obligation connected with such registered Bids exceed the Credit Limit, the Allocation Platform shall issue automatically via the Auction Tool a warning to the Registered Participant to modify the BidsCredit Limit. Bids shall not be rejected automatically if the maximum payment obligation attributed to registered Bids exceeds the Credit Limit at Bid submission but only after the process described in paragraph 2 22 of this Article.
2. At closure of the Bidding Period the Allocation Platform shall check again whether the maximum payment obligations connected with registered Bids calculated according to paragraph 5 55 of this Article exceed the Credit Limit. If the maximum payment obligations connected with these Bids exceed the Credit Limit, these Bids, starting with the Bid with the lowest Bid Price, shall be one
one (1) by one (1) excluded, until the maximum payment obligations are less than or equal to the Credit Limit.
3. The Allocation Platform shall indicate insufficient collaterals as the reason for the Bid exclusion in the Shadow Auction results notification to the Registered Participant.
4. The Allocation Platform shall continuously assess all the Bids irrespectively to which Shadow Auction and with regard to which Bidding Zone border and direction they are submitted. In case of Bids connected with various and overlapping Auctions the Allocation Platform shall consider all calculated maximum payment obligations as outstanding payment obligations according to Article 21.Article 21.
5. For the calculation of the maximum payment obligations related to one Bidding Zone border and direction the Allocation Platform shall sort the registered Bids of a Registered Participant by Bid Price in descending order (merit-order). Bid 1 shall be the Bid with the highest Bid Price and Bid n shall be the Bid with the lowest Bid Price. The Allocation Platform shall calculate the maximum payment obligations according to the following equation: πππ = β ππ΄π [π΅πππππππ(1) β π΅ππππ’πππ‘ππ‘π¦(1); π΅ππποΏ½οΏ½πποΏ½οΏ½(2) β β π΅ππππ’πππ‘ππ‘π¦(π); β¦ πβ1 π β¦ ; π΅πππππππ(π β 1) β β π΅ππππ’πππ‘ππ‘π¦(π) ; π΅πππππππ(π) β β π΅ππππ’πππ‘ππ‘π¦(οΏ½55 οΏ½)] π=1 π=1
6. When calculating the maximum payment obligations according to paragraph 5 of this Article, the Allocation Platform shall also take into account increase of th48.Article e maximum payment obligations with applicable taxes and levies in force subject to Article 48.
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Samples: Rules for Explicit Daily Capacity Allocation on Bidding Zone Borders Serviced by See Cao
Credit Limit verification. β
1. Upon submission by a Registered Participant of a Bid or set of Bids to the Auction Tool the Allocation Platform shall check whether the maximum payment obligations (MPO) connected with that Registered Participantβs registered Bid(s) calculated according to paragraphs 3 and 4 and 5 of this Article at the time of Bid(s) submission exceed the Credit Limit. If the maximum payment obligation connected with such registered Bids exceed the Credit Limit, the Allocation Platform shall issue automatically via the Auction Tool a warning to the Registered Participant to modify the BidsCredit Limit. Bids shall not be rejected automatically if the maximum payment obligation attributed to registered Bids exceeds the Credit Limit at Bid submission but only after the process described in paragraph 2 of this Article.
2. At closure of the Bidding Period the Allocation Platform shall check again whether the maximum payment obligations connected with registered Bids calculated according to paragraph 5 4 of this Article exceed the Credit Limit. If the maximum payment obligations connected with these Bids exceed the Credit Limit, these Bids, starting with the Bid with the lowest Bid Price, shall be one
one (1) by one (1) excluded, until the maximum payment obligations are less than or equal to the Credit Limit. The Allocation Platform may apply additional criteria or rules to decide which Bid shall be rejected. Such additional criteria or rules shall be included in the information System Rules and shall be one or more from the following:
(a) chronological submission (time stamp); and/or
(b) Bid identification assigned by the Auction Tool; and/or
(c) rejection of all relevant Bids with the same Bid Price.
3. The Allocation Platform shall indicate insufficient collaterals as the reason for the Bid exclusion in the Shadow Auction results notification to the Registered Participant.
4. The Allocation Platform shall continuously assess all the Bids irrespectively to which Shadow Auction and with regard to which Bidding Zone border and direction they are submitted. In case of Bids connected with various and overlapping Auctions the Allocation Platform shall consider all calculated maximum payment obligations as outstanding payment obligations according to Article 21.
5. For the calculation of the maximum payment obligations related to one Bidding Zone border and direction the Allocation Platform shall sort the registered Bids of a Registered Participant by Bid Price in descending order (merit-order). Bid 1 shall be the Bid with the highest Bid Price and Bid n shall be the Bid with the lowest Bid Price. The Allocation Platform shall calculate the maximum payment obligations according to the following equation: πππ = β ππ΄π [π΅πππππππ(1) β π΅ππππ’πππ‘ππ‘π¦(1); π΅πππππππ(2) β β π΅ππποΏ½ οΏ½ (π’ποΏ½οΏ½π‘ππ‘π¦(π); (1); (2) β οΏ½ (β¦ πβ1 π β¦ ; π΅πππππππ(π β 1) β β β¦ =1 =1 =1π΅ππππ’πππ‘ππ‘π¦(π) ; π΅πππππππ(π) β β π΅ππππ’πππ‘ππ‘π¦(οΏ½4 οΏ½)] π=1 π=1
6. When calculating the maximum payment obligations accothe rding to paragraph 5 of this Article, the Allocation Platform shall also take into account increase of the forcemaximum payment obligations with applicable taxes and levies in force subject to Article 48.
Appears in 1 contract
Samples: Daily Capacity Allocation Agreement
Credit Limit verification. 1. Upon submission by a Registered Participant of a Bid or set of Bids to the Auction Tool the Allocation Platform shall check whether the maximum payment obligations (MPO) connected with that Registered Participantβs registered Bid(s) calculated according to paragraphs 4 and 5 of this Article at the time of Bid(s) submission exceed the Credit Limit. If the maximum payment obligation connected with such registered Bids exceed the Credit Limit, the Allocation Platform shall issue automatically via the Auction Tool a warning to the Registered Participant to modify the BidsCredit Limit. Bids shall not be rejected automatically if the maximum payment obligation attributed to registered Bids exceeds the Credit Limit at Bid submission but only after the process described in paragraph 2 of this Article.
2. At closure of the Bidding Period the Allocation Platform shall check again whether the maximum payment obligations connected with registered Bids calculated according to paragraph 5 of this Article exceed the Credit Limit. If the maximum payment obligations connected with these Bids exceed the Credit Limit, these Bids, starting with the Bid with the lowest Bid Price, shall be one
one (1) by one (1) excluded, until the maximum payment obligations are less than or equal to the Credit Limit. The Allocation Platform may apply additional criteria or rules to decide which Bid shall be rejected. Such additional criteria or rules shall be included in the information System Rules and shall be one or more from the following:
(a) chronological submission (time stamp); and/or
(b) Bid identification assigned by the Auction Tool; and/or
(c) rejection of all relevant Bids with the same Bid Price.
3. The Allocation Platform shall indicate insufficient collaterals as the reason for the Bid exclusion in the Shadow Auction results notification to the Registered Participant.
4. The Allocation Platform shall continuously assess all the Bids irrespectively to which Shadow Auction and with regard to which Bidding Zone border and direction they are submitted. In case of Bids connected with various and overlapping Auctions the Allocation Platform shall consider all calculated maximum payment obligations as outstanding payment obligations according to Article 21.23
5. For the calculation of the maximum payment obligations related to one Bidding Zone border and direction the Allocation Platform shall sort the registered Bids of a Registered Participant by Bid Price in descending order (merit-order). Bid 1 shall be the Bid with the highest Bid Price and Bid n shall be the Bid with the lowest Bid Price. The Allocation Platform shall calculate the maximum payment obligations according to the following equation: ππMPO π = β οΏ½Ξ£ Max οΏ½π΄π [π΅πBid Price (1ππππππ(1) βBid Quantity (1 π΅ππππ’πBid Price (2ππ‘ππ‘π¦(1); π΅ποΏ½Ξ£ Bid Quantity (i) οΏ½ποΏ½οΏ½πποΏ½οΏ½(2) β β π΅ππBid Price (n ππ’ποΏ½οΏ½π‘ππ‘π¦(π); Ξ£ Bid Quantity (iβ¦ πβ1 π β¦ ; Bid Price (nπ΅πππππππ(πΞ£ Bid Quantity (i β 1) β β i=1 i=1π΅ππππ’πππ‘ππ‘π¦(π) ; π΅πππππππ(π) β β π΅ππππ’πππ‘ππ‘π¦(π)] π=1 π=1
6. When calculating the maximum payment oblthe following igations accoaccount:
(a) if applicable, for each individual hour of the Reduction Period the maximum quantity of Long Term Transmission Rights which can be allocated to the Registered Participant during the Reduction Period;
(b) rding to paragraph 5 of this Article, the Allocation Platform shall also take into account increase of the 65; and
(c) in respect of Long Term Transmission Rights with a Product Period of one (1) or more months, one (1) or two (2) monthly instalments respectively should be secured in compliance with due amount calculation according to Article 64(5)maximum payment obligations with applicable taxes and levies in force subject to Article 48.
Appears in 1 contract
Credit Limit verification. 1. Upon submission by a Registered Participant of a Bid or set of Bids to the Auction Tool the Allocation Platform shall check whether the maximum payment obligations (MPO) connected with that Registered Participantβs registered Bid(s) calculated according to paragraphs 4 and 5 of this Article at the time of Bid(s) submission exceed the Credit Limit. If the maximum payment obligation connected with such registered Bids exceed the Credit Limit, the Allocation Platform shall issue automatically via the Auction Tool a warning to the Registered Participant to modify the BidsCredit Limit. Bids shall not be rejected automatically if the maximum payment obligation attributed to registered Bids exceeds the Credit Limit at Bid submission but only after the process described in paragraph 2 of this Article.
2. At closure of the Bidding Period the Allocation Platform shall check again whether the maximum payment obligations connected with registered Bids calculated according to paragraph 5 of this Article exceed the Credit Limit. If the maximum payment obligations connected with these Bids exceed the Credit Limit, these Bids, starting with the Bid with the lowest Bid Price, shall be one
one (1) by one (1) excluded, until the maximum payment obligations are less than or equal to the Credit Limit. The Allocation Platform may apply additional criteria or rules to decide which Bid shall be rejected. Such additional criteria or rules shall be included in the information System Rules and shall be one or more from the following:
(a) chronological submission (time stamp); and/or
(b) Bid identification assigned by the Auction Tool; and/or
(c) rejection of all relevant Bids with the same Bid Price.
3. The Allocation Platform shall indicate insufficient collaterals as the reason for the Bid exclusion in the Shadow Auction results notification to the Registered Participant.
4. The Allocation Platform shall continuously assess all the Bids irrespectively to which Shadow Auction and with regard to which Bidding Zone border and direction they are submitted. In case of Bids connected with various and overlapping Auctions the Allocation Platform shall consider all calculated maximum payment obligations as outstanding payment obligations according to Article 21.23
5. For the calculation of the maximum payment obligations related to one Bidding Zone border and direction the Allocation Platform shall sort the registered Bids of a Registered Participant by Bid Price in descending order (merit-order). Bid 1 shall be the Bid with the highest Bid Price and Bid n shall be the Bid with the lowest Bid Price. The Allocation Platform shall calculate the maximum payment obligations according to the following equation: πππ = β ππ΄π [π΅π[ ( ππππππ(1) β( ) ( ) β ( π΅ππππ’πππ‘ππ‘π¦(1); π΅πππππππ(2) β β π΅ππππ’πππ‘ππ‘π¦(π); β¦ πβ1 π β¦ ; π΅πππππππ(π β 1) β β π΅ππππ’πππ‘ππ‘π¦(π) ; π΅πππππππ(π) β β π΅ππππ’πππ‘ππ‘π¦(π)] π=1 π=1
6. When calculating the maximum payment obligations according to paragraph 5 of this Article, the Allocation Platform shall also take into account increase of the maximum payment obligations with applicable taxes and levies in force subject to Article 48.
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Credit Limit verification. 1. Upon submission by a Registered Participant of a Bid or set of Bids to the Auction Tool the Allocation Platform shall check whether the maximum payment obligations (MPO) connected with that Registered Participantβs registered Bid(s) calculated according to paragraphs 4 and 5 of this Article at the time of Bid(s) submission exceed the Credit Limit. If the maximum payment obligation connected with such the registered Bids exceed the Credit Limit, the Allocation Platform shall issue automatically via the Auction Tool a warning to the Registered Participant to modify the BidsCredit Limit. Bids shall not be rejected automatically if the maximum payment obligation attributed to registered Bids exceeds the Credit Limit at Bid submission but only after the process described in paragraph 2 of this Article.
2. At closure of the Bidding Period the Allocation Platform shall check confirm again whether the maximum payment obligations connected with registered Bids calculated according to paragraph 5 of this Article exceed the Credit Limit. If the maximum payment obligations connected with these Bids exceed the Credit Limit, these Bids, starting with the Bid with the lowest Bid Price, shall be one
one (1) by one (1) excluded, until the maximum payment obligations are less than additional criteria or equal rules to decide which Bid shall be rejected. Such additional criteria or rules shall be included in the Credit Limitinformation System Rules and shall be one or more from the following:
(a) chronological submission (time stamp); and/or
(b) Bid identification assigned by the Auction Tool; and/or
(c) rejection of all relevant Bids with the same Bid Price.
3. The Allocation Platform shall indicate the insufficient collaterals as the reason for the Bid exclusion in the Shadow Auction results notification to the Registered Participant.
4. The Allocation Platform shall continuously assess all the Bids irrespectively to which Shadow Auction and with regard to which Bidding Zone border and direction they are submitted. In case of Bids connected with various and overlapping Auctions the Allocation Platform shall consider all calculated maximum payment obligations as outstanding payment obligations according to Article 21.
5. For the calculation of the maximum payment obligations obligation (MPO) related to one Bidding Zone border and direction the Allocation Platform shall sort the registered Bids of a Registered Participant by Bid Price in descending order (merit-order). Bid 1 shall be the Bid with the highest Bid Price and Bid n shall be the Bid with the lowest Bid Price. The Allocation Platform shall calculate the maximum payment obligations obligation according to the following equation: πππ = β ππ΄π [π΅ποΏ½ οΏ½ (1ππππππ(1) β(1 π΅ππππ’π(2ππ‘ππ‘π¦(1); π΅ποΏ½ (πποΏ½οΏ½πποΏ½οΏ½(2) β β π΅ππ( ππ’ποΏ½οΏ½π‘ππ‘π¦(π); β¦ οΏ½ ()πβ1 π β¦ ; (π΅πππππππ(ποΏ½ ( β 1) β β οΏ½ =1 =1π΅ππππ’πππ‘ππ‘π¦(π) ; π΅πππππππ(π) β β π΅ππππ’πππ‘ππ‘π¦(π)] π=1 π=1
6. When calculating the maximum payment obligations accothe rding to paragraph 5 of this Article, the Allocation Platform shall also take into account increase of the 44maximum payment obligations with applicable taxes and levies in force subject to Article 48.
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