Examples of State Subsidy in a sentence
To the extent a Sell Offer in any RPM Auction is based on a Capacity Resource with State Subsidy that qualifies for any of the exemptions defined in Tariff, Attachment DD, sections 5.14(h-1)(4)-(8), the Sell Offer for such resource shall not be limited by the MOPR Floor Offer Price, unless otherwise specified.
To the extent a Sell Offer in any RPM Auction for any Delivery Year is based on a Capacity Resource with State Subsidy for which the Capacity Market Seller obtains, prior to the submission of such offer, a resource-specific exception, such offer may include an offer price below the default MOPR Floor Offer Price applicable to such resource type, but no lower than the resource-specific MOPR Floor Offer Price determined in such exception process.
A Capacity Market Seller intending to submit a Sell Offer in any RPM Auction for a New Entry Capacity Resource with State Subsidy or a Cleared Capacity Resource with State Subsidy below the applicable default MOPR Floor Offer Price may, at its election, submit a request for a resource-specific exception for such Capacity Resource.
Such Sell Offer is permissible because it is consistent with the competitive, cost-based, fixed, net cost were the resource to rely solely on revenues exclusive of any State Subsidy.
Second Proposed Tariff, Definitions R-S, State Subsidy Definition.
Any Sell Offer based on either a New Entry Capacity Resource with State Subsidy or a Cleared Capacity Resource with a State Subsidy submitted in any RPM Auction shall have an offer price no lower than the applicable MOPR Floor Offer Price, unless the Capacity Market Seller qualifies for an exemption with respect to such Capacity Resource with a State Subsidy prior to the submission of such offer.
For the 2022/2023 Delivery Year, any Sell Offer based on either a New Entry Capacity Resource with State Subsidy or a Cleared Capacity Resource with a State Subsidy submitted in any RPM Auction shall have an offer price no lower than the applicable MOPR Floor Offer Price, unless the Capacity Market Seller qualifies for an exemption with respect to such Capacity Resource with a State Subsidy prior to the submission of such offer.
Resources that do not wish to be mitigated or believe they will not actually receive a State Subsidy to which they are entitled may certify to PJM that they will forego any State Subsidy under the Competitive Exemption.
Specifically, PJM states that where the rights and obligations among multiple off-takers are in equal shares (similar to pari passu arrangements for jointly owned resources) and where the capacity resource is only entitled to the State Subsidies that are assignable, the underlying resource will not receive any form of State Subsidy.
First Transmittal at 13-14; Second Proposed Tariff, Definitions R-S (State Subsidy definition, § (3)(g)).