Imbalance Volume definition

Imbalance Volume means the adjustment of the volume of Gas to be delivered by Seller and received by Buyer hereunder to correct for Incidental Deviations. For accounting purposes, Imbalance Volumes shall be deemed to apply only to the Firm Daily Contract Quantity of Gas.
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Imbalance Volume has the meaning ascribed thereto in Section 13;
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Imbalance Volume means the adjustment of the volume of Gas to be delivered by Seller and received by Buyer under this Agreement to correct for previous Incidental Deviations.
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Examples of Imbalance Volume in a sentence

  • The Account Energy Imbalance Volume, QAEIaj, is the difference between the energy credited to the account, less the contract position and the Account Period Balancing Services Volume, as specified in accordance with section T, paragraph 4.6.3 of the Balancing and Settlement Code.

  • QAEIaj = QACEaj – QABSaj – QABCaj The Account Energy Imbalance Volume is then multiplied by System Sell Price for positive imbalance volume and System Buy Price for negative imbalance volume to give the Energy Imbalance Cashflows as specified in Section T, Paragraph 4.7 of the Balancing and Settlement Code.

  • Overall system imbalance (i.e. Net Imbalance Volume or ‘NIV’) is currently determined by summing the Pre- Gate Closure trades (reflected in Balancing Services Adjustment Data or ‘BSAD’) with the Bids and Offers accepted by the SO.

  • The use of SBR could also create an expectation that prices will rise to £3000/MWh but because of Net Imbalance Volume (NIV) tagging this may not happen.

  • The Net Imbalance Volume and the LOLP are the variables that contribute the most to the model.

  • The gas controllers will make reasonable efforts to reduce any Imbalance Volume to zero by the end of each Month.

  • The following section details the mechanism for deriving the Net Imbalance Volume and calculating the main Energy Imbalance Price.

  • For the avoidance of doubt, where the Net Imbalance Volume is zero AND the sum of all traded volumes provided by the MIDPs is zero, then both the System Buy Price and the System Sell Price will be zero.

  • At a high level, Proposed Modification P78 will be effected as follows:The dual Energy Imbalance Price regime will be maintained, but with the concept of a main price, set from balancing actions taken to alleviate the Net Imbalance Volume, i.e. all of the system and energy balancing actions (including pre-Gate Closure actions reported in BSAD), netted off to give the energy imbalance of the overall system.

  • BMRA, at the end of the relevant Settlement Period, will calculate the Energy Imbalance Prices by deriving the Net Imbalance Volume and the associated (main) Energy Imbalance Price.

Related to Imbalance Volume

  • Runoff volume means the volume of water that runs off the land development project from a prescribed storm event.

  • Imbalances means over-production or under-production or over-delivery or under-delivery with respect to Hydrocarbons produced from the Properties, regardless of whether the same arise at the wellhead, pipeline, gathering system, transportation system, processing plant, or any other location, including any imbalances under gas balancing or similar agreements, production handling agreements, processing agreements, and/or gathering or transportation agreements.

  • Service Volume means a measure of Services for which a Performance Target is set.

  • Imbalance means the difference between Deliveries to KUB for a Customer and Redeliveries by KUB to the Customer.

  • Meet-Point Billing (MPB means the billing associated with interconnection of facilities between two (2) or more LECs for the routing of traffic to and from an IXC with which one of the LECs does not have a direct connection. In a multi-bill environment, each Party bills the appropriate tariffed rate for its portion of a jointly provided Switched Exchange Access Service.

  • Monthly Volume means the product of the Committed Volume multiplied by the number of days in the relevant month.

  • Imbalance Energy means the amount of energy in MWh, in any given Settlement Period or Settlement Interval, by which the amount of Facility Energy deviates from the amount of Scheduled Energy.

  • Daily Contract Quantity or “DCQ” means the quantity of Gas as set out in Clause 4.1 herein.

  • Imbalance Charges means any fees, penalties, costs or charges (in cash or in kind) assessed by a Transporter for failure to satisfy the Transporter’s balance and/or nomination requirements.

  • Trading Volume means the volume of shares of the Company's Common Stock that trade between 9:30 AM and 4:00 PM, New York City Time, on any Business Day, and shall expressly exclude any shares trading during "after hours" trading.

  • Daily Quantity means the quantity of waste discharged during an operating day.

  • Contract Quantity means the quantity of Delivered Energy expected to be delivered by Seller during each Contract Year as set forth in the Cover Sheet.

  • Committed Volume means, with respect to a Committed Shipper, the minimum daily volume of Crude Petroleum set out in Schedule A to the Committed Shipper’s TSA.

  • Meet-Point Billing (MPB) refers to the billing associated with interconnection of facilities between two or more LECs for the routing of traffic to and from an IXC with which one of the LECs does not have a direct connection. In a multi-bill environment, each Party bills the appropriate tariffed rate for its portion of a jointly provided Switched Exchange Access Service.

  • Product Group or “the Group” means a group of lotteries that has joined together to offer a product pursuant to the terms of the Multi-State Lottery Agreement and the Product Group’s own rules.

  • Measurement Point means the emission source for which continuous emission measurement systems (CEMS) are used for emission measurement, or the cross-section of a pipeline system for which the CO2 flow is determined using continuous measurement systems;

  • Delivery Point means the point(s) of connection(s) at which energy is delivered into the Grid System i.e. the Interconnection Point.

  • Meet Point A point, designated by the Parties, at which one Party’s responsibility for service begins and the other Party’s responsibility ends.

  • Vapor balance system means a combination of pipes or hoses which create a closed system between the vapor spaces of an unloading tank and a receiving tank such that vapors displaced from the receiving tank are transferred to the tank being unloaded.

  • Total hydrocarbons (THC) means the sum of all volatile compounds measurable by a flame ionization detector (FID).

  • Supply Point means the point of connection between the licensed network and your apparatus or equipment.

  • Fuel oil means heavy distillates or residues from crude oil or blends of such materials intended for use as a fuel for the production of heat or power of a quality equivalent to the “American Society for Testing and Materials’ Specification for Number Four Fuel Oil (Designation D 396-69)”, or heavier.

  • Material Gas Imbalance means, with respect to all Gas Balancing Agreements to which the Borrower or any other Credit Party is a party or by which any Oil and Gas Property owned by the Borrower or another Credit Party is bound, a net overproduced gas imbalance to the Borrower and the other Credit Parties, taken as a whole, in excess of 110,000 Mcf.

  • INTER-CONNECTION POINT/ DELIVERY/ METERING POINT means a single point at 220kV or above, where the power from the Project(s) is injected into the identified ISTS Substation (including the dedicated transmission line connecting the Projects with the substation system) as specified in the RfS document. Metering shall be done at this interconnection point where the power is injected into. For interconnection with grid and metering, the WPDs shall abide by the relevant CERC/ SERC Regulations, Grid Code and Central Electricity Authority (Installation and Operation of Meters) Regulations, 2006 as amended and revised from time to time.

  • Receipt Point means the receipt/inception point(s) where Crude Oil is received into the Gathering System, as such points are specified in Section II of this tariff.

  • Crude Oil means any liquid hydrocarbon mixture occurring naturally in the earth whether or not treated to render it suitable for transportation and includes: