Annual Capacity Product definition

Annual Capacity Product means a Capacity Product with a duration of one year that provides for capacity to be made available throughout a Gas Year;“Business Day”means a day, other than a Saturday or Sunday, on which banks are open for ordinary banking business in Belfast;“Capacity Product”means the products for the provision of capacity at Entry Points or Exit Points made available by Designated Pipe-line Operators;“Credit Committee”means the committee which is convened and operates in accordance with the “Terms of Reference”;“Designated Network”means such parts of a Designated Pipe-line Operator’s Network as is or are designated from time to time pursuant to the Designation Order;“Designated Pipe-line Operator”means a person licensed to convey gas under Article 8(1)(a) of the Order for the Licensee through the Postalised System;“Designation Date”means the date specified in a Designation Order on which any part of a Designated Pipe-line Operator’s Network through which the Licensee is entitled to have gas conveyed shall be designated as postalised;“Designation Order”means an order made pursuant to Article 59 of the Energy (Northern Ireland) Order 2003 designating gas plant comprised within the

Annual Capacity Product means a Capacity Product with a duration of one year that provides for capacity to be made available throughout a Gas Year; “Business Day” means a day, other than a Saturday or Sunday, on which banks are open for ordinary banking business in Belfast; “Capacity Product” means the products for the provision of capacity at Entry Points or Exit Points made available by Designated Pipe-line Operators; “Credit Committee” means the committee which is convened and operates in accordance with the “Terms of Reference”; “Designated Network” means such parts of a Designated Pipe-line Operator’s Network as is or are designated from time to time pursuant to the Designation Order; “Designated Pipe-line Operator” means a person licensed to convey gas under Article 8(1)(a) of the Order for the Licensee through the Postalised System; “Designation Date” means the date specified in a Designation Order on which any part of a Designated Pipe-line Operator’s Network through which theLicensee is entitled to have gas conveyed shall be designated as

Annual Capacity Product means a Capacity Product with a duration of one year that provides for capacity to be made available throughout a Gas Year; “Business Day” means a day, other than a Saturday or Sunday, on which banks are open for ordinary banking business in Belfast; “Capacity Product” means the products for the provision of capacity at Entry Points or Exit Points made available by Designated Pipe-line Operators;

Examples of Annual Capacity Product in a sentence

• Both the Annual Capacity Product and Seasonal Capacity Product must be for utilisation during the same Gas Year.

• C) Annual Capacity Structure with Seasonal Bi-Directional Incentive An incentive can be applied to Capacity Transactions which include an Annual Capacity Product in the UK to BE flow direction and a Winter Seasonal Capacity Product in the BE to UK flow direction.

• UK to BEBacton EntryB) Annual Capacity Structure with Annual Bi-Directional Incentive An incentive can be applied to Capacity Transactions which include an Annual Capacity Product in the UK to BE flow direction and an Annual Capacity Product in the BE to UK flow direction for the same Gas Year.

• The incentive to apply is a 67% reduction on the Bacton Entry/Zeebrugge Exit3 Annual Capacity Product.

• In general terms then, the formula below is used to calculate the reconciliation payment for each individual Non Annual Capacity Product bought in each Auction: Capacity Reconciliation Payment for Non Annual Capacity = Reconciliation unit charge for Non Annual Capacity Product x quantity of Non Annual Capacity bought; where the total Capacity Reconciliation Payment for Non Annual Capacity is the sum of these amounts for each quantity of Non Annual Capacity bought for use in Gas Year Y.

• The incentive to apply is a 67% reduction on the Bacton Entry/Zeebrugge Exit4 Annual Capacity Product.

• Exit Capacity is Exit Capacity at the Zeebrugge Exit Point allocated to the Eligible IAA Shipper as an Annual Capacity Product in the [March] 2017 Capacity Auction.

• UK to BEBacton Entry B) Annual Capacity Structure with Annual Bi-Directional Incentive An incentive can be applied to Capacity Transactions which include an Annual Capacity Product in the UK to BE flow direction and an Annual Capacity Product in the BE to UK flow direction for the same Gas Year.The incentive to apply is a 67% reduction on the Bacton Entry/Zeebrugge Exit3 Annual Capacity Product.

• UK to BEBacton Entry B) Annual Capacity Structure with Annual Bi-Directional Incentive An incentive can be applied to Capacity Transactions which include an Annual Capacity Product in the UK to BE flow direction and an Annual Capacity Product in the BE to UK flow direction for the same Gas Year.