Offered Capacity definition

Offered Capacity means the highest offer level, expressed in energy unit allocable per hour on IP1 in direction from Romania to Hungary as well as in direction from Hungary to Romania, and IP2 in direction from Hungary to Austria within the scope of the Binding Open Season Procedure, starting from the Target Commercial Operation Date minus 10% of the highest offer level, expressed in energy unit per hour, which is reserved for potential short term capacity booking.

Offered Capacity means the number of Units being made available in the respective Unit Validity Times in an Auction;

Offered Capacity has the meaning given in Section B paragraph 1.2 of the IUK Access Code; “Ofgem” means the Office of Gas and Electricity Markets;

Examples of Offered Capacity in a sentence

• If the considered Bid, together with already accepted Bids, exceeds the Offered Capacity on the border, the considered Bid will be accepted with a reduced Bid Amount up to the Offered Capacity.

• If a default Bid Quantity or a quantity calculated as a sum of the Bid Quantity for several default Bids submitted for the same Auction by a Registered Participant exceeds the final Offered Capacity, the Bids with the lowest Bid Price shall be rejected one (1) by one (1) until the total allowed Bid Quantity is lower than or equal to the Offered Capacity.

• If a default Bid Quantity or a quantity calculated as a sum of the Bid Quantity for several default Bids submitted for the Fallback Auction by a Registered Participant exceeds the Offered Capacity used for Auction simulation as set forth in Article 42, the Bids with the lowest Bid Price shall be rejected one by one until the total allowed Bid Quantity is reached.

• The same applies for where the Offered Capacity announced in the provisional Auction Specification for the subsequent long term Auction contains a Reduction Period.

• In case of an increase the Offered Capacity for delivery day the Daily Transmission Rights generated according to the Auction simulation remain unchanged.

More Definitions of Offered Capacity

Offered Capacity means the offer level, expressed in energy unit allocable per hour on IPs in direction:

Offered Capacity means Cross Zonal Capacity offered by the Allocation Platform in an Auction; Participation Agreement means the agreement, by which the Parties undertake to comply with the terms and conditions for Cross Zonal Capacity Allocation as contained in these Allocation Rules; Party/ Parties means the Allocation Platform and/or a Registered Participant referred to individually as Party or collectively as Parties; Physical Transmission Right means a right entitling its holder to physically transfer a certain volume of electricity in a certain period of time between two Bidding Zones in a specific direction; Product Period means the time and date on which the right to use the Long Term Transmission Right commences and the time and date on which the right to use the Long Term Transmission Right ends; Redispatching means a measure activated by one or several system operators by altering the generation and/or load pattern in order to change physical flows in the transmission system and relieve a physical congestion; Reduction Period means a period of time, i.e. specific calendar days and/or hours, within the Product Period in which Cross Zonal Capacities with a reduced amount of MW are offered taking into account a foreseen specific network situation (e.g. planned maintenance, long-term outages, foreseen balancing problems).

Offered Capacity means the number of Units being made available in the

Offered Capacity or “Offered Power” shall mean the schedule (in MW) as declared by the developer at the Delivery Point (ISTS Substation) for any time-block of the day as defined in the Grid Code.

Offered Capacity means the cross zonal capacity offered by the transmission capacity allocator to the market;

Offered Capacity has the meaning given in Section B paragraph 1.2 of the Interconnector Access Code;

Offered Capacity means the capacity offered by the Bidder in its Financial Bid. Each Financial Bid shall correspond to a single Offered Capacity and the Bidder shall submit separate Financial Bids for separate Offered Capacities under a single Bid. Offered Capacity shall be in AC terms. Offered Capacity shall be specified in whole number only.