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Balancing Energy Market definition

Balancing Energy Market means energy markets maintained by Fingrid from which Fingrid procures Manual Frequency Restoration Reserve (mFRR).
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Examples of Balancing Energy Market in a sentence

  • For example, the currently defined settlement interval for the Balancing Energy Market Service is 15 minutes.

  • The terms and conditions on the procurement and maintenance of Manual Frequency Restoration Reserve (mFRR) stated in this document shall apply when the Balancing Service Provider participates in the Balancing Energy Market and Balancing Capacity Market as well as in competitive tendering on the procurement of balancing capacity by means of Balancing Capacity Agreements.

  • In order to balance electricity production and consumption, Fingrid orders Manual Frequency Restoration Reserve from the Balancing Energy Market.

  • Because both consumers and producers rely on price forecasting information for their bidding tactics, an efficient solution is necessary.Title : Price Forecasting for the Balancing Energy Market Using Machine-Learning Regression Author:Alexandre Lucas, Konstantinos Pegios, Evangelos Kotsakis and Dan Clarke Year :2020 With the expansion of aggregators and the general liberalization of European power markets in recent years, the relevance of price forecasting has grown.

  • All energy produced by Texoga will be sold and scheduled into the ERCOT Balancing Energy Market, unless the Parties by mutual agreement determine that changes in the ERCOT market warrant undertaking sales in other ERCOT market categories.

  • In the Balancing Capacity Market, the Balancing Service Provider commits to offering to the Balancing Energy Market the reserve volume that was accepted in the tender- ing process for the Market Time Unit, and Fingrid will pay a Capacity Fee for the Balancing Service Provider for this.

  • The Day-Ahead Market (DAM) Margin Assurance settlement ($) is a payment for Power Suppliers that are required to purchase energy in the NYISO Balancing Energy Market as a result of being dispatched below their DAM schedule by NYISO for reliability reasons.

  • The RO used in the Balancing Energy Market does not need to be specific to a Reserve Unit or production form, and production, consumption and energy storage facilities in the balance of the same balance responsible party can be combined under the same RO.

  • The Energy produced by the use of the three Operating Reserves Ancillary Services will be accounted for in the Balancing Energy Market.

  • The Balancing Energy Market will be settled separately for the Maine Public Service Company (MPS) and Eastern Maine Electric Cooperative (EMEC) regions on an hourly basis.

Related to Balancing Energy Market

  • PJM Interchange Energy Market means the regional competitive market administered by the Office of the Interconnection for the purchase and sale of spot electric energy at wholesale in interstate commerce and related services established pursuant to Operating Agreement, Schedule 1, and the parallel provisions of Tariff, Attachment K - Appendix.

  • Day-ahead Energy Market means the schedule of commitments for the purchase or sale of energy and payment of Transmission Congestion Charges developed by the Office of the Interconnection as a result of the offers and specifications submitted in accordance with Operating Agreement, Schedule 1, section 1.10 and the parallel provisions of Tariff, Attachment K-Appendix. “Day-ahead Energy Market Injection Congestion Credits” shall mean those congestion credits paid to Market Participants for supply transactions in the Day-ahead Energy Market including generation schedules, Increment Offers, Up-to Congestion Transactions, import transactions, and Day-Ahead Pseudo-Tie Transactions. “Day-ahead Energy Market Transmission Congestion Charges” shall be equal to the sum of Day- ahead Energy Market Withdrawal Congestion Charges minus [the sum of Day-ahead Energy Market Injection Congestion Credits plus any congestion charges calculated pursuant to the Joint Operating Agreement between the Midcontinent Independent Transmission System Operator, Inc. and PJM Interconnection, L.L.C. (PJM Rate Schedule FERC No. 38), plus any congestion charges calculated pursuant to the Joint Operating Agreement Among and Between New York Independent System Operator Inc. and PJM Interconnection, L.L.C. (PJM Rate Schedule FERC No. 45), plus any congestion charges calculated pursuant to agreements between the Office of the Interconnection and other entities, as applicable)]. “Day-ahead Energy Market Withdrawal Congestion Charges” shall mean those congestion charges collected from Market Participants for withdrawal transactions in the Day-ahead Energy Market from transactions including Demand Bids, Decrement Bids, Up-to Congestion Transactions, Export Transactions, and Day-Ahead Pseudo-Tie Transactions.

  • Net energy metering means measuring the difference, over the net metering period, between (i)

  • Energy Management System means a set of interrelated or interacting elements of a plan which sets an energy efficiency objective and a strategy to achieve that objective;

  • Renewable energy system means a fixture, product, device, or interacting group of fixtures, products, or devices on the customer's side of the meter that use 1 or more renewable energy resources to generate electricity. Renewable energy system includes a biomass stove but does not include an incinerator or digester.

  • Renewable energy resource means a resource that naturally replenishes over a human, not a geological, time frame and that is ultimately derived from solar power, water power, or wind power. Renewable energy resource does not include petroleum, nuclear, natural gas, or coal. A renewable energy resource comes from the sun or from thermal inertia of the earth and minimizes the output of toxic material in the conversion of the energy and includes, but is not limited to, all of the following:

  • Renewable energy resources means energy derived from solar, wind, geothermal, biomass, and hydroelectricity. A fuel cell using hydrogen derived from these eligible resources is also an eligible electric generation technology. Fossil and nuclear fuels and their derivatives are not eligible resources.

  • Renewable Energy Source means an energy source that is not fossil carbon-based, non- renewable or radioactive, and may include solar, wind, biomass, geothermal, landfill gas, or wave, tidal and thermal ocean technologies, and includes a Certified Renewable Energy Source.

  • Hydroelectric energy means water used as the sole source of energy to produce electricity.

  • renewable energy sources means renewable sources such as small hydro, wind, solar including its integration with combined cycle, biomass, bio fuel cogeneration, urban or municipal waste and other such sources as approved by the MNRE;

  • PJM Interconnection, L.L.C. or "PJM" means the privately-

  • Renewable energy means energy derived from sunlight, wind, falling water, biomass, sustainable or

  • Renewable energy facility means an electric generation unit or other facility or installation that produces electric energy using a Renewable Energy Source.

  • Rechargeable Electrical Energy Storage System (REESS) means the rechargeable energy storage system that provides electric energy for electrical propulsion.

  • Solar energy system means a system of components that produces heat or electricity, or both, from

  • Wind energy facility means the turbines, accessory buildings, transmission

  • Renewable Energy Certificates or “RECs” shall mean all of the Certificates and any and all other Environmental Attributes associated with the Products or otherwise produced by the Facility which satisfy the RPS for a RPS Class I Renewable Generation Unit, and shall represent title to and claim over all Environmental Attributes associated with the specified MWh of generation from such RPS Class I Renewable Generation Unit.

  • Real-time Energy Market means the purchase or sale of energy and payment of Transmission Congestion Charges for quantity deviations from the Day-ahead Energy Market in the Operating Day.

  • PJM EIS GATS means the PJM Environmental Information Services, Inc. Generation Attribute Tracking System.

  • Class I renewable energy means electric energy produced from

  • energy storage means, in the electricity system, deferring the final use of electricity to a moment later than when it was generated, or the conversion of electrical energy into a form of energy which can be stored, the storing of such energy, and the subsequent reconversion of such energy into electrical energy or use as another energy carrier;

  • Renewable Energy Credits means a certificate, credit, allowance, green tag, or other transferable indicia, howsoever entitled, allocated, assigned or otherwise awarded or certified by any Governmental Authority, program administrator, certification board or similar entity in connection with the production or generation of each MWh of energy from the Project. For the avoidance of doubt, “Renewable Energy Credits” shall not include any ITC, State Renewable Energy Incentives or other tax benefits, credits, or incentives.

  • Net energy billing means a billing and metering practice under which a customer-generator is billed on the basis of net energy over the billing period.

  • Day-ahead System Energy Price means the System Energy Price resulting from the Day- ahead Energy Market.

  • Thermal energy means the thermal output produced by a combustion source used directly as part of a manufacturing process, industrial/commercial process, or heating/cooling application, but not used to produce electricity.

  • Energy Storage Resource means a resource capable of receiving electric energy from the grid and storing it for later injection to the grid that participates in the PJM Energy, Capacity and/or Ancillary Services markets as a Market Participant.

Most Referenced Clauses

Most Referenced Definitions