System Marginal Sell Price definition

System Marginal Sell Price or “SMSP” has the meaning given in the Network Code;
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System Marginal Sell Price. “SMSP” the System Marginal Sell Price, as calculated and published by National Grid in respect of each Gas Day;
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System Marginal Sell Price has the meaning given in the Uniform Network Code.
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Examples of System Marginal Sell Price in a sentence

  • The “Buyer’s Default Top-up” is an amount calculated against the possibility of a negative System Marginal Sell Price (SMP Sell), as defined by National Grid in the Network Code.

  • For the Buyer, the delivery Margin includes an amount calculated against the possibility of a negative System Marginal Sell Price, as defined by National Grid in the Network Code.

  • If on any Day the Customer has an Injection Overrun Quantity greater than zero (0), SL shall purchase the Injection Overrun Quantity from the Customer at a purchase price calculated in accordance with the following formula: PDQPMAX(D) = (0.8 x SMSP - (Withdrawal Charge + Injection Charge)) x DQPMAX(D) where: PDQPMAX(D) is the Injection Overrun Quantity purchase price in pence; SMSP(D) is the System Marginal Sell Price in pence/kWh on such Day; and DQPMAX(D) is the Injection Overrun Quantity in kWh.

  • The "Buyer's Default Top-up" is an amount calculated against the possibility of a negative System Marginal Sell Price (SMP Sell), as defined by National Grid in the Network Code.

  • If on any Day the Customer has an Injection Overrun Quantity greater than zero (0), SL shall purchase the Injection Overrun Quantity from the Customer at a purchase price calculated in accordance with the following formula: PDQPMAX(D) = (0.8 x SMSP - (Withdrawal Charge + Injection Charge)) x DQPMAX(D)where: PDQPMAX(D) is the Injection Overrun Quantity purchase price in pence; SMSP(D) is the System Marginal Sell Price in pence/kWh on such Day; and DQPMAX(D) is the Injection Overrun Quantity in kWh.

  • If a Shipper User has a long imbalance, i.e. has entered more gas into the system than its customers have offtaken, the resulting Daily Imbalance is cashed out using the System Marginal Sell Price.

  • For the Buyer, the delivery Margin includes an amount ca lculated a ga inst the possibility of a nega tive System Marginal Sell Price, as defined by Nationa l Grid in the Network Code.

  • Current System Marginal Prices In the UNC, the System Marginal Buy Price* and System Marginal Sell Price* are derived from either the price of National Grid’s Market Balancing Actions*, or System Average Price* (SAP*) plus or minus a default value.

  • System Marginal Sell Price or SMPsell: shall mean for a specific day, the sell price expressed in EUR/kWh on the on-the-day commodity market of National Grid Gas in the United Kingdom, determined by National Grid plc.

  • For illustration, if the default SMPs were calculated using the 2010 Hornsea prices the System Marginal Buy Price would be SAP plus 0.0452p/kWh and the System Marginal Sell Price would be SAP less 0.0442p/kWh.


More Definitions of System Marginal Sell Price

System Marginal Sell Price has the meaning given to it in the Uniform Network Code. Term the term of this Framework Agreement as specified in Clause 2. Third Party has the meaning given to it in Clause 30.1. Third Party Employees Employees of a Third Party Employer whose contracts of employment transfer with effect from the Commencement Date to the Supplier by virtue of the application of the Employment Regulations. Third Party Employer a service provider engaged by the Authority to provide some or all of the Services to the Authority before the Commencement Date and whose employees will transfer to the Supplier on the Commencement Date.
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System Marginal Sell Price has the meaning given to it in the Uniform Network Code. Term the term of this Framework Agreement as specified in Clause 2. Third Party has the meaning given to it in Clause 30.1.
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Related to System Marginal Sell Price

  • Locational Marginal Price or “LMP” shall mean the market clearing price for energy at a given location in a Party’s RC Area, and “Locational Marginal Pricing” shall mean the processes related to the determination of the LMP.

  • Volume Weighted Average Price means, for any security as of any date, the daily dollar volume-weighted average price for such security on the Primary Market as reported by Bloomberg through its “Historical Prices – Px Table with Average Daily Volume” functions, or, if no dollar volume-weighted average price is reported for such security by Bloomberg, the average of the highest closing bid price and the lowest closing ask price of any of the market makers for such security as reported in the "pink sheets" by Pink Sheets LLC.

  • Open Market Adjustment Amount shall have the meaning specified in Section 2(I).

  • Nodal Reference Price at each location shall mean the 97th percentile price differential between day-ahead and real-time prices experienced over the corresponding two-month reference period in the prior calendar year. Reference periods will be Jan-Feb, Mar-Apr, May- Jun, Jul-Aug, Sept-Oct, Nov-Dec. For any given current-year month, the reference period months will be the set of two months in the prior calendar year that include the month corresponding to the current month. For example, July and August 2003 would each use July- August 2002 as their reference period.

  • Weighted Average Price means, for any security as of any date, the dollar volume-weighted average price for such security on the Principal Market during the period beginning at 9:30:01 a.m., New York time (or such other time as the Principal Market publicly announces is the official open of trading), and ending at 4:00:00 p.m., New York time (or such other time as the Principal Market publicly announces is the official close of trading), as reported by Bloomberg through its “Volume at Price” function or, if the foregoing does not apply, the dollar volume-weighted average price of such security in the over-the-counter market on the electronic bulletin board for such security during the period beginning at 9:30:01 a.m., New York time (or such other time as such market publicly announces is the official open of trading), and ending at 4:00:00 p.m., New York time (or such other time as such market publicly announces is the official close of trading), as reported by Bloomberg, or, if no dollar volume-weighted average price is reported for such security by Bloomberg for such hours, the average of the highest closing bid price and the lowest closing ask price of any of the market makers for such security as reported on the Pink Open Market. If the Weighted Average Price cannot be calculated for a security on a particular date on any of the foregoing bases, the Weighted Average Price of such security on such date shall be the fair market value as mutually determined by the Company and the Holder. If the Company and the Holder are unable to agree upon the fair market value of such security, then such dispute shall be resolved pursuant to Section 12 with the term “Weighted Average Price” being substituted for the term “Exercise Price.” All such determinations shall be appropriately adjusted for any stock dividend, stock split, stock combination, reclassification or other similar transaction during the applicable calculation period.

  • Day-ahead Congestion Price means the Congestion Price resulting from the Day-ahead Energy Market.

  • Applicable L/C Margin means the per annum fee, from time to time in effect, payable with respect to outstanding Letter of Credit Obligations as determined by reference to Section 1.5(a).

  • Retail Prices Index means the general index (for all items) published by the Office for National Statistics or, if that index is not published for a relevant month, any substituted index or index figures published by that Office;

  • Fully Diluted Weighted Average Basis means, when calculating the number of Outstanding Units for any period, a basis that includes (a) the weighted average number of Outstanding Units during such period plus (b) all Partnership Interests and Derivative Partnership Interests (i) that are convertible into or exercisable or exchangeable for Units or for which Units are issuable, in each case that are senior to or pari passu with the Subordinated Units, (ii) whose conversion, exercise or exchange price, if any, is less than the Current Market Price on the date of such calculation, (iii) that may be converted into or exercised or exchanged for such Units prior to or during the Quarter immediately following the end of the period for which the calculation is being made without the satisfaction of any contingency beyond the control of the holder other than the payment of consideration and the compliance with administrative mechanics applicable to such conversion, exercise or exchange and (iv) that were not converted into or exercised or exchanged for such Units during the period for which the calculation is being made; provided, however, that for purposes of determining the number of Outstanding Units on a Fully Diluted Weighted Average Basis when calculating whether the Subordination Period has ended or Subordinated Units are entitled to convert into Common Units pursuant to Section 5.7, such Partnership Interests and Derivative Partnership Interests shall be deemed to have been Outstanding Units only for the four Quarters that comprise the last four Quarters of the measurement period; provided, further, that if consideration will be paid to any Group Member in connection with such conversion, exercise or exchange, the number of Units to be included in such calculation shall be that number equal to the difference between (x) the number of Units issuable upon such conversion, exercise or exchange and (y) the number of Units that such consideration would purchase at the Current Market Price.

  • Initial Margin means the amount of cash or securities deposited with a broker as a margin payment at the time of purchase or sale of a futures contract.

  • Initial Reference Price means the official closing price of the Underlying Share on Strike Date.

  • Underlying Reference Closing Price Value means, in respect of a SPS Valuation Date, the Closing Price in respect of such day.

  • Marginal Value means the difference between actual taxable value and base taxable value.

  • MCE Valuation Period means, subject to any extension (as described in further detail in the Conditions), the period commencing from and including the moment upon which the Mandatory Call Event occurs and up to the end of the following trading session on the Index Exchange; and

  • Reference Price means the Reference Price of the Underlying as specified in § 1 of the Product and Underlying Data.

  • Closing Level : means the official daily Closing Level of the Index as published by the Index Sponsor in relation to each Scheduled Trading Day during the Investment Term.

  • Gross Standard Volume as herein used means volume corrected to a temperature of sixty degrees (60°) Fahrenheit, in accordance with the latest API/ASTM measurement standards, and at equilibrium vapor pressure.

  • SOFR Adjustment Date means the second U.S. Government Securities Business Day before the first day of such Interest Period.

  • Unrecovered Initial Unit Price means at any time, with respect to a Unit, the Initial Unit Price less the sum of all distributions constituting Capital Surplus theretofore made in respect of an Initial Common Unit and any distributions of cash (or the Net Agreed Value of any distributions in kind) in connection with the dissolution and liquidation of the Partnership theretofore made in respect of an Initial Common Unit, adjusted as the General Partner determines to be appropriate to give effect to any distribution, subdivision or combination of such Units.

  • Current Unit Rates are Forest Service estimates of the unit rates for doing the work at the time the adjustment is approved.

  • Pre-Incentive Fee Net Investment Income means interest income, dividend income and any other income (including any other fees, other than fees for providing managerial assistance, such as commitment, origination, structuring, diligence and consulting fees or other fees that the Company receives from portfolio companies) accrued during the calendar quarter, minus the Company’s operating expenses for the quarter (including the base management fee, expenses payable under the administration agreement and any interest expense and dividends paid on any issued and outstanding preferred stock, but excluding the incentive fee). Pre-Incentive Fee Net Investment Income includes, in the case of investments with a deferred interest feature (such as original issue discount debt instruments with payment-in-kind interest and zero coupon securities), accrued income that the Company has not yet received in cash. Pre-Incentive Fee Net Investment Income does not include any realized capital gains, realized capital losses or unrealized capital appreciation or depreciation.

  • Baseline Value for each of the Company and the Peer Companies means the dollar amount representing the average of the Fair Market Value of one share of common stock of such company over the five consecutive trading days ending on, and including, the Effective Date.

  • Established catalogue price means the price included in a catalogue, price list, schedule, or other form that:

  • Subsequent Margin means the margin specified as such in the applicable Final Terms;

  • Established catalog price means the price included in a catalog, price list, schedule, or other form that:

  • Reference Pricei means the Reference Pricei of the relevant Basket Componenti as specified in