First Incremental Auction definition

First Incremental Auction means an Incremental Auction conducted 20 months prior to the start of the Delivery Year to which it relates.
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First Incremental Auction means an auction conducted pursuant to Section 5 in which Market Sellers that committed Capacity Resources in the Base Residual Auction for a Delivery Year, which subsequently are determined to be unavailable to deliver the committed Unforced Capacity in such Delivery Year, may submit Buy Bids for replacement Capacity Resources.
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First Incremental Auction means, for Delivery Years through the 2016-2017 Delivery Year, an Incremental Auction conducted 20 months prior to the start of the Delivery Year to which it relates.
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Examples of First Incremental Auction in a sentence

  • Incremental Auction shall mean the First Incremental Auction, the Second Incremental Auction, the Third Incremental Auction, or the Conditional Incremental Auction, each as defined in Attachment DD to the PJM Tariff.

  • Each Capacity Market Buyer in the First Incremental Auction or Third Incremental Auction shall pay a Resource Substitution Charge equal to the Capacity Resource Clearing Price resulting from such auction multiplied by the megawatt quantity of Unforced Capacity purchased by such Market Buyer in such auction.

  • PJM shall conduct for each Delivery Year a First Incremental Auction to allow Capacity Market Sellers that committed Capacity Resources in the Base Residual Auction for such Delivery Year to submit Buy Bids for replacement Capacity Resources.

  • Only Capacity Market Buyers shall be eligible to submit Buy Bids into the First Incremental Auction or Third Incremental Auction.

  • For each First Incremental Auction, the optimization algorithm shall consider: • the same locational constraints that were modeled in the Base Residual Auction ; and • the Sell Offers and Buy Bids submitted in such auction.

  • Except during the Transition Period, the First Incremental Auction shall be conducted in the month of June that is twenty-three months prior to the start of the Delivery Year.

  • Buy Bids shall be submitted only in a First Incremental Auction or Third Incremental Auction.

  • The First Incremental Auction shall be conducted in the month of September that is twenty months prior to the start of the Delivery Year; the Second Incremental Auction shall be conducted in the month of July that is ten months prior to the start of the Delivery Year; and the Third Incremental Auction shall be conducted in the month of February that is three months prior to the start of the Delivery Year.

  • A Capacity Market Buyer may participate in a First Incremental Auction or a Third Incremental Auction through an Agent, provided that the Capacity Market Buyer informs the Office of the Interconnection in advance in writing of the appointment and authority of such Agent.

  • Consistent with these considerations, PJM proposes to cancel the Second Incremental Auctions associated with the 2023/2024 through 2025/2026 Delivery Years, as well as the First Incremental Auction associated with the 2023/2024 through 2026/2027 Delivery Year as shown in the table below and in Attachment B of this filing.

Related to First Incremental Auction

  • Second Incremental Auction means an Incremental Auction conducted ten months before the Delivery Year to which it relates.

  • Incremental Auction means any of several auctions conducted for a Delivery Year after the Base Residual Auction for such Delivery Year and before the first day of such Delivery Year, including the First Incremental Auction, Second Incremental Auction, Third Incremental Auction or Conditional Incremental Auction. Incremental Auctions (other than the Conditional Incremental Auction), shall be held for the purposes of:

  • 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.

  • Incremental Auction Revenue Rights means the additional Auction Revenue Rights, not previously feasible, created by the addition of Incremental Rights-Eligible Required Transmission Enhancements, Merchant Transmission Facilities, or of one or more Customer- Funded Upgrades.

  • Bid Incremental value means the minimum amount over and above the last highest bid amount by which any participating Qualified Bidder will be required to increase the next bid on the auction portal;