Operating Reserve Demand Curve definition

Operating Reserve Demand Curve means a curve with prices on the y-axis and megawatts on the x-axis, which defines the relationship between each incremental megawatt of reserves that can be used to meet a given reserve requirement.
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Operating Reserve Demand Curve means a curve with prices on the y-axis and megawatts on the x-axis, which defines the relationship between each incremental megawatt of reserves that can be used to meet a given reserve requirement and the value placed on maintaining that megawatt level of reserve, expressed in $/MWh.
Sample 1Sample 2Sample 3
Operating Reserve Demand Curve means a curve with prices on the y-axis and
Sample 1Sample 2

Examples of Operating Reserve Demand Curve in a sentence

  • Each Operating Reserve Demand Curve will apply to both the Day-Ahead Market and the Real-Time Market for the relevant product and location, except for those demand curves that apply to certain Scarcity Reserve Requirements which will be applicable only during the real-time intervals that a Scarcity Reserve Requirement has been established by the ISO.

  • Shadow Prices will also be consistent with the Operating Reserve Demand Curves described in Section 15.4.7 of this Rate Schedule, which will ensure that Operating Reserves are not scheduled by SCUC at a cost greater than the relevant Operating Reserve Demand Curve indicates should be paid.

  • The scope of the review shall include, but not be limited to, an analysis of whether any Operating Reserve Demand Curve should be adjusted upward or downward in order to optimize the economic efficiency of any, or all, of the ISO Administered Markets.

  • Shadow Prices will also be consistent with the Operating Reserve Demand Curves described in Section 15.4.7 of this Rate Schedule, which will ensure that Operating Reserves are not scheduled by RTC at a cost greater than the relevant Operating Reserve Demand Curve indicates should be paid.

  • In ERCOT, the reserve margin is ultimately determined by suppliers’ costs and willingness to invest based on market prices, where prices are determined by market fundamentals and by the administratively-determined Operating Reserve Demand Curve (ORDC) during tight market conditions.

  • The Operating Reserve Demand Curve (ORDC) was introduced by Hogan (Hogan 2005), who stated that the reserve demand curve would improve the determination of prices in scarcity conditions.

  • In addition to changes to the setting of deficit CVPs, we can further improve the current reserve procurement by introducing the Operating Reserve Demand Curve (ORDC) for the Non-Essential reserve quantity.Similar to the stepwise CVP, ORDC is a downward sloping curve which represents decreased risk of load shed with increasing amount of reserve.

  • The Operating Reserve Demand Curve (ORDC) represents the reliability costs or risks of having a shortage of operating reserves.

  • A Market-Wide Operating Reserve Demand Curve will be utilized to price Operating Reserve when sufficient Operating Reserves are not cleared to meet the corresponding Market-Wide Operating Reserve Requirement.

  • The Operating Reserve Demand Curve (ORDC) is a shortage pricing mechanism that reflects the loss of load probability (LOLP) at varying levels of operating reserves multiplied by the value of lost load (VOLL).


More Definitions of Operating Reserve Demand Curve

Operating Reserve Demand Curve. As defined in the NYISO Services Tariff.
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Related to Operating Reserve Demand Curve

  • Operating Reserve means generation capacity or load reduction capacity which can be called upon on short notice by either Party to replace scheduled energy supply which is unavailable as a result of an unexpected outage or to augment scheduled energy as a result of unexpected demand or other contingencies.

  • Required Reserve Amount means, with respect to any Payment Date, the lesser of (a) 0.25% of the difference of the Aggregate Starting Principal Balance less the Yield Supplement Overcollateralization Amount as of the applicable Cutoff Date of all Receivables transferred to the Trust and (b) the Outstanding Amount of the Notes.

  • Replacement Reserve Fund shall have the meaning set forth in Section 7.3.1 hereof.

  • Replacement Reserve As defined in Section 9.5.1.

  • Debt Service Reserve Fund Requirement means, with respect to the 2013 Series C Bonds and as of each determination date, an amount equal to maximum annual debt service on the 2013 Series C Bonds Outstanding from time to time and, with respect to any other Series of Bonds, the amount set forth in the Related Series Indenture.

  • Required Reserve means, on any day during a Calculation Period, the product of (a) the greater of (i) the Required Reserve Factor Floor and (ii) the sum of the Loss Reserve, the Interest Reserve, the Dilution Reserve and the Servicing Reserve, times (b) the Net Pool Balance as of the Cut-Off Date immediately preceding such Calculation Period.

  • Debt Service Reserve Requirement means, as of any date of calculation, and for any Fiscal Year, the amount equal to the maximum Adjusted Aggregate Debt Service on Bonds in the current or any future Fiscal Year on all Bonds Outstanding; provided, however, that if, upon the issuance of a Series of Bonds, such amount would require moneys, in an amount in excess of the maximum amount permitted under the Code to be deposited therein from the proceeds of such Bonds, to be deposited therein, the Debt Service Reserve Requirement shall mean an amount equal to the sum of the Debt Service Reserve Requirement immediately preceding issuance of such Bonds and the maximum amount permitted under the Code to be deposited therein from the proceeds of such Bonds, as certified by an Authorized Representative of the Authority; provided, further, that, if (i) the payment of the Principal Installments of or interest on any Series of Bonds or portion thereof is secured by a Special Credit Facility, (ii) the payment of the Tender Option Price of any Option Bond of a Series is secured by a Special Credit Facility or (iii) the Authority has determined in a Supplemental Resolution authorizing the issuance of a Series of Bonds that such Series of Bonds will not be secured by the Common Account in the Debt Service Reserve Fund, the Supplemental Resolution authorizing such Series may specify the Debt Service Reserve Requirement, if any, for the Bonds of such Series: provided, further, that if, as a result of the expiration or termination of a Financial Guaranty, a deficiency shall be created in the Debt Service Reserve Fund, the Debt Service Reserve Requirement shall be calculated so as to exclude the amount of such deficiency and the Debt Service Reserve Requirement shall be increased in each of the five Fiscal Years after the date such deficiency was created by an amount equal twenty per centum (20%) of the aforesaid deficiency.For the purpose of calculating the Debt Service Reserve Requirement for any Variable Rate Bonds of a Series, the maximum Adjusted Debt Service on such Series shall be determined by reference to the Pro Forma Bond Issue for the Variable Rate Bonds of such Series set forth in the Supplemental Resolution authorizing such Series.

  • Capital Reserve Fund means the reserve fund created and established by the Authority in

  • Activated reserve components means members of the reserve component of the uniformed services who have received a notice of intent to deploy or mobilize under Title 10 of the United States Code, Title 32 of the United States Code, or state mobilization to active duty.

  • Loss Reserve means, on any date, an amount equal to the Loss Percentage multiplied by the Net Receivables Balance as of the close of business of the Servicer on such date.