Imbalance Trading Sample Clauses
The Imbalance Trading clause defines the procedures and responsibilities for managing differences between contracted and actual quantities of a commodity, such as electricity or gas, delivered or consumed. Typically, this clause outlines how parties will settle any discrepancies, including the calculation of imbalance charges, the timing of settlements, and the applicable market rules or pricing mechanisms. Its core practical function is to allocate the financial risk and operational responsibility for imbalances, ensuring that both parties are incentivized to accurately forecast and match their contractual obligations, thereby promoting system reliability and market efficiency.
Imbalance Trading. (a) No more than once per Day the Shipper may, by notice to the Service Provider, request the Service Provider to facilitate an Imbalance Trade, detailing the:
(i) amount of Imbalance Trade Gas and the Service subject to the Imbalance Trade; and
(ii) identity of the Other Shipper to the Imbalance Trade.
(b) The Other Shipper identified by the Shipper in clause 3.7(a) must confirm by notice to the Service Provider its agreement to the Imbalance Trade, including the amount of Imbalance Trade Gas and the Other Shipper’s Service that is subject to the Imbalance Trade.
(c) Notices required under clause 3.7(a) and 3.7(b) must be provided by lodging a request on the Customer Website, by email or by the mechanism nominated by the Service Provider from time to time.
(d) If the Service Provider fails to implement the Imbalance Trade, the Shipper’s remedy is limited to relief from payment of the Imbalance Trade Charge.
(e) The Service Provider may not provide the Imbalance Trade if:
(i) either the Shipper or the Other Shipper does not have sufficient MDQ in respect of the relevant Service for the Imbalance Trade;
(ii) the Imbalance Trade will result in an Imbalance not authorised by this document or under another Gas Transportation Agreement with any Other Shipper (by reference to the Shipper’s or Other Shipper’s Imbalance on the previous Day), unless otherwise agreed by the Service Provider;
(iii) the Other Shipper fails to confirm by notice to the Service Provider its agreement to the Imbalance Trade to be bought or sold by the Shipper;
(iv) the Shipper or Other Shipper is in breach of its Gas Transportation Agreement; or
(v) if the Service Provider assesses that it is unable to accept the Imbalance Gas Trade having regard to:
(A) operational matters and sufficient Capacity being available on the TGP, taking into account the Priority of Service;
(B) whether the Imbalance Trade will detrimentally affect Other Shippers; or
(C) the provisions of this document, including any relevant Annexures.
Imbalance Trading. (a) User may exchange all or part of an Accumulated Imbalance for an equal but opposite quantity of an Other User's imbalance on such terms as User may agree with the Other User, provided that Notice of the exchange is received by Service Provider from both User and the relevant Other User by no later than the Nomination Cut-Off Time on the Day after the Day of the Accumulated Imbalance. Where an exchange is made, both the Accumulated Imbalance and the Other User's imbalance will be adjusted accordingly.
(b) A Notice under this clause 17.6 must be made by User to Service Provider via CRS.
(c) An exchange under clause 17.6(a) will not affect User's Liability to pay:
(i) any of the charges payable under the Agreement for the Services rendered by Service Provider; or
(ii) any Excess Imbalance Charge payable in respect of the Accumulated Imbalance for the period prior to the exchange.
Imbalance Trading. 24.7.1 Prior to the imposition of imbalance charges, the Supplier may engage in trading daily and monthly imbalances for the previous Month, provided that Daily imbalance trades are communicated to the Company within three (3) Business Days upon the Company’s provision of information on Supplier imbalances for said Month.
Imbalance Trading. User may utilize the ECS, subject to the terms, conditions, and limitations of this Agreement, to confirm a trade, or to confirm a trade with another User, of operating or cumulative imbalances, as those are defined and specified in PG&E's CPUC-approved rate Schedule G-BAL. User acknowledges that such trades do not involve PG&E as a party to the trade. User agrees that it may enter into such trades as set forth in Schedule G-BAL and may utilize the ECS to confirm the trade and to notify PG&E of the trade, provided, however, that User strictly follows the protocols, directions and rules for confirming trades as set forth in the ECS.
Imbalance Trading. (a) The Shipper may exchange all or part of its Cumulative Imbalance for an equal but opposite quantity of imbalance:
(i) with an Other Shipper on the same part of the DDP Pipeline (for example, a DDP 133 shipper trade with another DDP 133 shipper); or
(ii) with a shipper on another part of the DDP Pipeline in the circumstances set out below:
(A) shippers on the DDP 133 pipeline (DDP 133 Shipper) may trade a DDP 133 accumulated imbalance that arises pursuant to a gas transportation agreement between the DDP 133 Shipper and the transporter on the DDPL 133 pipeline with the DDP 134 accumulated imbalance of a shipper on the DDP 134 pipeline (DDP 134 Shipper) that arises pursuant to a gas transportation agreement between the DDP 134 Shipper and the transporter on the DDP 134 pipeline;
(B) shippers on the DDP 134 pipeline (DDP 134 Shipper) may trade a DDP 134 accumulated imbalance that arises pursuant to a gas transportation agreement between the DDP 134 Shipper and the transporter on the DDPL 134 pipeline with the DDP 133 accumulated imbalance of a shipper on the DDP 133 pipeline (DDP 133 Shipper) that arises pursuant to a gas transportation agreement between the DDP 133 Shipper and the transporter on the DDP 133 pipeline; or
(C) shippers on the DDP 90 pipeline may only trade an accumulated imbalance that arises on the DDP 90 pipeline with another shipper on the DDP 90 pipeline. (Cross-pipeline Imbalance Trade),
(iii) notice of the exchange is given to the Service Providers from the Shipper and the Other Shipper or the other shipper (as applicable), and such notice must include the specific location of the imbalances the subject of the exchange; and
(iv) the exchange is confirmed and validated by the Service Providers and, in the case of a Cross-pipeline Imbalance Trade, by the transporter or service provider (as applicable) of the relevant part of the Pipeline.
(b) If an exchange is confirmed and validated, the Shipper’s Cumulative Imbalance and the imbalance of the Other Shipper or other shipper (as applicable) will be adjusted accordingly. However, an exchange will not affect the Shipper’s liability to pay any Imbalance Charges accrued prior to the time of the exchange.
(c) The Service Providers are required to confirm and validate an exchange except where:
(i) the Service Providers consider that the exchange of the Cumulative Imbalance cannot occur in a manner consistent with the operational and technical requirements necessary for the safe and reliable op...
Imbalance Trading. (a) User may exchange all or part of an Accumulated Imbalance for an equal but opposite quantity of an Other User's imbalance on such terms as User may agree with the Other User, provided that Notice of the exchange is received by Service Provider from both User and the relevant Other User by no later than the Nomination Cut-Off Time on the Day after the Day of the Accumulated Imbalance. Where an exchange is made, both the Accumulated Imbalance and the Other User's imbalance will be adjusted accordingly.
(b) A Notice under this clause 16.5 must be made by User to Service Provider via CRS.
(c) An exchange under clause 16.5(a) will not affect User’s Liability to pay:
Imbalance Trading. In the event of net Underdeliveries or Overdeliveries by Seller in any Month and notwithstanding the absence of an actual net Underdelivery or Overdelivery assessed by Transporter, Purchaser will exercise reasonable commercial efforts to mitigate the adverse consequences of the net Underdeliveries or Overdeliveries through imbalance trading, or equivalent opportunities set forth in the Tariff of the applicable Transporter. Purchaser and Seller acknowledge the net Underdeliveries or Overdeliveries by Seller calculated in accordance with this Agreement may or may not result in a corresponding actual net Underdelivery or Overdelivery assessed by Transporter pursuant to its Tariff. Purchaser shall be responsible for Imbalance Charges assessed by a Transporter, unless Seller's actions or inactions are responsible for or caused such Imbalance Charges.
Imbalance Trading. In the event of net underdeliveries or overdeliveries by CUSA in any Month and notwithstanding the absence of an actual net underdelivery or overdelivery assessed by Transporter, NGC will exercise best efforts to mitigate the adverse consequences of the net underdeliveries or overdeliveries through imbalance trading, or the equivalent, opportunities set forth in the FERC Gas Tariff of the applicable Transporter. NGC and CUSA acknowledge that net underdeliveries or overdeliveries by CUSA calculated in accordance with this Agreement may or may not result in a corresponding actual net underdelivery or overdelivery assessed by Transporter pursuant to its FERC Gas Tariff.
Imbalance Trading. (1) A Shipper, or its agent, may trade imbalances with other Shippers, their agents or other third-party firms that may conduct imbalance trading for Shippers, provided that GTN will be reimbursed for any transportation and fuel necessary to effectuate such trading. Resolution of imbalances by trading imbalances between Shippers shall be scheduled with GTN using the nomination process.
(2) Any trading of imbalances must result in each Shipper's imbalance decreasing.
(3) GTN shall process all imbalance trades at no additional administrative charge.