Examples of FTR Participant in a sentence
A Designated FTR Participant that has been awarded a bid in an FTR Auction is required to provide “Settlement Financial Assurance.” The amount of a Designated FTR Participant’s Settlement Financial Assurance shall be equal to the amount of any settled but uninvoiced Charges incurred by such Designated FTR Participant for FTR transactions less the settled but uninvoiced amounts due to such Market Participant for FTR transactions.
After bids are finalized for an FTR Auction, but before the auction results are final, a Designated FTR Participant must provide FTR Settlement Risk Financial Assurance based on its bids for each FTR path.
The ISO will calculate an FTR Settlement Risk Financial Assurance amount for each direction (prevailing flow and counter flow) of each FTR path on which the Designated FTR Participant has bid, equal to the total number of MW bid for that direction of the FTR path multiplied by the applicable proxy value for the FTR path (as described below) multiplied by the number of hours associated with the bid.
If such additional information is not provided or does not, in PJMSettlement’s judgment, demonstrate eligibility to make the representation in paragraph 3.a of the annual certification, PJMSettlement will require the FTR Participant to instead make the representations required in paragraph 3.b of the annual certification, including representing that it has submitted a copy of its current governing risk control policies, procedures and controls applicable to its FTR trading activities.
Once an FTR Auction’s results are final, a Designated FTR Participant must provide FTR Settlement Risk Financial Assurance based on awarded FTRs, equal to the MW value of each awarded FTR multiplied by the applicable proxy value for the FTR path (as described below) multiplied by the number of hours associated with the FTR.
For that FTR path, the Designated FTR Participant must provide FTR Settlement Risk Financial Assurance equal to the higher of the amounts calculated for each direction.
A Designated FTR Participant is required to maintain, at all times, “Unsettled FTR Financial Assurance” for all FTRs awarded to it in any FTR Auctions.
A Designated FTR Participant is required to provide “FTR Settlement Risk Financial Assurance” for each bid it submits into an FTR Auction and for each FTR that is awarded to it in an FTR Auction, as described below.
Notwithstanding the foregoing, an FTR Participant shall not be considered for an Unsecured Credit Allowance for participation in the FTR markets.
Each Designated FTR Participant must maintain the requisite additional financial assurance equal to its FTR Financial Assurance Requirements for the duration of the FTRs awarded to it.