Running Operational Imbalance definition

Running Operational Imbalance means the cumulative balance of Operational Imbalance for each Welded Point calculated immediately after the end of each Dayn being the sum of:
Sample 1Sample 2Sample 3
Running Operational Imbalance means the cumulative balance of Operational Imbalance for each Welded Point calculated for and as at the end of each Dayn being the sum of:
Sample 1Sample 2Sample 3
Running Operational Imbalance means the cumulative balance of Operational Imbalance for each Welded Point calculated immediately after the end of each Dayn being the sum of:(iii) the Daily Operational Imbalance Limit at that Welded Point, where each of (b) (i),and (ii) and (iii) are expressed as negative numbers and all numbers are posted on the MDL IX in accordance with section 4.
Sample 1

Examples of Running Operational Imbalance in a sentence

  • Each Physical Point Welded Party shall use its reasonable endeavours to manage the flow of Gas at each of its Welded Points so that its Running Operational Imbalance at each such Welded Point tends towards zero over a reasonable period of time.

  • A Welded Party that has a Small Station shall remove any Accumulated Excess Operational Imbalance of such Small Station calculated in accordance with section12.4 within 5 Business Days of receiving notice from MDL that it has an Accumulated Excess Operational Imbalance in respect of such Small Station by transferring (using the Operational Imbalance trading function of the MDL IX) all or some of such Running Operational Imbalance to one or more Large Stations.

  • A Welded Party may trade the amount of its Running Operational Imbalance (or part of it) with any other Welded Party in accordance with the procedure on the MDL IX.

  • If, after issuing any Imbalance Limit Overrun Notice, a Positive Running Operational Imbalance continues to grow, MDL may issue a new Imbalance Limit Overrun Notice that will replace the then current Imbalance Limit Overrun Notice.

  • Where there is a Running Operational Imbalance outstanding at the date of termination of an ICA, the relevant Welded Party shall, within five Days of termination of that ICA or within such longer period as may be agreed by MDL, reconcile and eliminate the Running Operational Imbalance in accordance with the terms and conditions of this Operating Code.

  • Adjustments for trades on each Transmission Day will be included in the Running Operational Imbalance posted on the MDL IX the next Day in accordance with section 4.

  • The Operational Imbalance and Running Operational Imbalance of all Small Stations will be determined within 5 Business Days of the beginning of each Month with respect to each Day of the previous Month and notified by MDL to the Welded Party by 8.00am of the sixth Business Day of the Month by posting such Operational Imbalance and Running Operational Imbalance on the MDL IX in accordance with section 4.

  • The Notional Point Welded Party shall use all reasonable endeavours to ensure that at all times there is no Operational Imbalance, Running Operational Imbalance or Excess Daily Imbalance at the Trading Hub Receipt Point.

  • Notwithstanding any other provision of this Operating Code, for the purposes of calculating Operational Imbalance, Running Operational Imbalance and Excess Daily Imbalance in relation to a Notional Welded Point the quantity of Gas that on a Day has flowed through the Trading Hub Delivery Point and the Trading Hub Receipt Point, respectively, shall be the Deemed Measured Quantity for that Day.

  • Notwithstanding any other provision of this Operating Code, for the purposes of calculating Operational Imbalance, Running Operational Imbalance and Excess Daily Imbalance in relation to a Notional Welded Point the quantity of Gas that on a Day has flowed through the applicable Trading Hub Delivery Point and the corresponding Trading Hub Receipt Point, respectively, shall be the Deemed Measured Quantity of that Notional Welded Point for that Day.


More Definitions of Running Operational Imbalance

Running Operational Imbalance means the cumulative balance of Operational Imbalance for each Welded Point calculated immediately after the end of each Dayn being the sum of: either: if Dayn is the Commencement Date, zero; or for all subsequent Days, the Running Operational Imbalance for that Welded Point at the end of Dayn-1; the Operational Imbalance at that Welded Point during Dayn; and any Operational Imbalance traded with another Welded Point during Dayn pursuant to section 12.8; and any quantity of Gas purchased from, MDL by the Welded Party in relation to that Welded Point on Dayn under section 12.11(a)(i), less any quantity of Gas sold to MDL by the Welded Party in relation to that Welded Point on Dayn under section 12.11(a)(ii).
Sample 1

Related to Running Operational Imbalance

  • Mining operation means any operations undertaken for the purpose of winning any mineral as defined in section 3 (d) of Mines and Minerals (Development and Regulation) Act, 1957.

  • Mining Operations means every kind of work done by the Operator:

  • Billing cycle or billing period means the period for which regular electricity bills as specified by the Commission, are prepared for different categories of consumers by the licensee;

  • 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-xxxx environment, each Party bills the appropriate tariffed rate for its portion of a jointly provided Switched Exchange Access Service.

  • Commissioning Date means that date when construction of the contemplated Project is complete, and the Maintenance Term commences;

  • Project Completion Date means the date on which the Completion Certificate is issued;

  • Animal feeding operation (“AFO”) means a lot or facility (other than an aquatic animal production facility) where animals have been, are, or will be stabled or confined and fed or maintained for a total of 45 days or more in any 12-month period, and crops, vegetation, forage growth, or post-harvest residues are not sustained in the normal growing season over any portion of the lot or facility [40 CFR § 122.23(b)(1)].

  • Operating Period for any Element of the Project shall mean the period from (and including) the COD of such Element of the Project, up to (and including) the Expiry Date and for the Project, shall mean the period from (and including) the COD of the Project, up to (and including) the Expiry Date;

  • Production Period is the period that for winter cereal advances commences October 1, 2021 and terminates September 30, 2023; for advances on all other field crops, honey, hogs, goats, sheep and lambs commences April 1, 2022 and terminates September 30, 2023; and for advances on cattle, continuous flow cattle, and bison commences on April 1, 2022 and terminates on March 31, 2024.

  • Reasonable and Prudent Operator means a person seeking in good faith to perform its contractual obligations and, in the process of doing so and in the overall conduct of its whole undertaking exercising that degree of diligence, skill, prudence and foresight which can reasonably and ordinarily be expected from a skilled and experienced operator engaged in the same type of undertaking under the same or similar circumstances complying with all applicable Laws, and any reference to the standard of a Reasonable and Prudent Operator means such degree of diligence, skill, prudence and foresight as aforesaid.

  • 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;

  • Scheduled Commercial Operation Date shall have the meaning ascribed to it in Clause 5.4.1;

  • Operational Period means the period starting with the date and time a Certificate is issued (or on a later date and time certain if stated in the Certificate) and ending with the date and time on which the Certificate expires or is earlier revoked.

  • Scheduled operation time means the scheduled operating hours of the System for the month. All planned downtime on the system would be deducted from the total operation time for the month to give the scheduled operation time.

  • Scheduled Completion Date shall be the date set forth in Clause 10.3;

  • 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.