Committed Offer definition

Committed Offer means 1) for pool-scheduled resources, an offer on which a resource was scheduled by the Office of the Interconnection for a particular clock hour for an Operating Day, and 2) for self-scheduled resources, either the offer on which the Market Seller has elected to schedule the resource or the applicable offer for the resource determined pursuant to Operating Agreement, Schedule 1, section 6.4, or Operating Agreement, Schedule 1, section 6.6 for a particular clock hour for an Operating Day.
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Committed Offer means 1) for pool-scheduled resources, an offer on which a resource was scheduled by the Office of the Interconnection for a particular clock hour for an Operating Day, and 2) for self-scheduled resources, either the offer on which the Market Seller has elected to schedule the resource or the applicable offer for the resource determined pursuant to Operating Agreement, Schedule 1, section 6.4, and the parallel provisions of Tariff, Attachment K- Appendix, section 6.4, or Operating Agreement, Schedule 1, section 6.6, and the parallel
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Committed Offer means 1) for pool-scheduled resources, an offer on which a resource was scheduled by the Office of the Interconnection for a particular clock hour for an Operating Day, and 2) for self-scheduled resources, either the offer on which the Market Seller has elected
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Examples of Committed Offer in a sentence

  • The IMM explains that it is not clear how PJM will determine the applicable megawatts for the Total Operating Reserve Offer if the desired output from a resource’s Final Offer differs from the desired output from its Committed Offer.

  • The IMM recommends that PJM clearly define which offer will be the Committed Offer for self-scheduled resources.

  • PJM states that this is because PJM uses the greater of the Final or Committed Offer to determine the Total Lost Opportunity Offer.

  • While we reject PJM’s proposal, we clarify that the term Committed Offer should be clearly defined because there may be some instances when a self-scheduled resource’s day-ahead energy cleared output, based on an economic offer, is above that resource’s self-scheduled output.

  • For all other pool-scheduled generating units, the Total Lost Opportunity Offer will be the hourly offer integrated under the applicable offer curve for the LOC deviation, as determined by the offer curve associated with the greater of the Committed Offer or Final Offer for each hour in an operating day.

  • The IMM argues that the Committed Offer for a self-scheduled resource outside the day-ahead market should be the market-based or cost-based offer at the time the resource comes online.13384.

  • PJM proposes that for pool-scheduled resources, the “Total Lost Opportunity Offer” will equal the hourly offer integrated under the applicable incremental energy offer curve for the LOC deviation.41 PJM explains that the applicable incremental energy offer curve will be determined by the greater of the Committed Offer or last real-time offer submitted, on which the resource was committed in the day-ahead market for each hour in an operating day.4222.

  • The Committed Offer of a self-scheduled resource that clears the real-time market at a point on its economic incremental energy offer curve that is above its self-scheduled quantity should be the market-based or cost- based offer upon which the resource cleared the real-time market.10.

  • The IMM states that PJM’s proposal to base the LOC Deviation value on a resource’s Final Offer will give a resource the ability to increase its LOC credits by simply reducing its offer in real-time.138 According to the IMM, the LOC Deviation should be based on a resource’s Committed Offer and not its Final Offer.88.

  • The IMM argues that the Committed Offer for self- scheduled resources in the day-ahead market should be either the market-based or cost- based offer on which the resource cleared the day-ahead market.


More Definitions of Committed Offer

Committed Offer means 1) for pool-scheduled resources, an offer on which a resource was scheduled by the Office of the Interconnection for a particular clock hour for an Operating Day, and 2) for self-scheduled resources, either the offer on which the Market Seller has elected to schedule the resource or the applicable offer for the resource determined pursuant to Operating Agreement, Schedule 1, section 6.4, and the parallel provisions of Tariff, Attachment K- Appendix, section 6.4, or Operating Agreement, Schedule 1, section 6.6, and the parallel provisions of Tariff, Attachment K-Appendix, section 6.6, for a particular clock hour for an Operating Day.
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Related to Committed Offer

  • Credit-Limited Offer means a Sell Offer that is submitted by a Market Participant in an RPM Auction subject to a maximum credit requirement specified by such Market Participant.

  • Increment Offer means a type of Virtual Transaction that is an offer to sell energy at a specified location in the Day-ahead Energy Market. A cleared Increment Offer results in scheduled generation at the specified location in the Day-ahead Energy Market.

  • Conditional Incremental Auction means an Incremental Auction conducted for a Delivery Year if and when necessary to secure commitments of additional capacity to address reliability criteria violations arising from the delay in a Backbone Transmission upgrade that was modeled in the Base Residual Auction for such Delivery Year.

  • Open Competitive Bidding means a fair and transparent specified procedure defined under these Rules, advertised in the prescribed manner, leading to the award of a contract whereby all interested persons, firms, companies or organizations may bid for the contract and includes both National and International Competitive Biddings;