Wholesale Market Price Quotation definition
Examples of Wholesale Market Price Quotation in a sentence
The Authority has the right to require the Supplier to enter into a Third Party Transaction if it is with an Authorised Trading Counterparty and: the Authorised Representative has rejected a Wholesale Market Price Quotation; or the Supplier was unavailable when the Authorised Representative tried to telephone the Supplier to request a Wholesale Market Price Quotation.
If the Supplier provides the Authority with a Wholesale Market Price Quotation by reference to its trade book, the Supplier shall immediately following the Authority's request provide the Authorised Representative with the quotation whilst remaining telephonically connected.
The Supplier may provide the Wholesale Market Price Quotation by reference to the Supplier's trade book or by placing bids or offers on broker screens.
If the Authorised Representative verbally accepts the Wholesale Market Price Quotation, the acceptance shall bind the Parties.
If the Supplier provides the Authority with a Wholesale Market Price Quotation by placing bids or offers on broker screens, the Supplier shall inform the Authorised Representative by telephone (in a subsequent telephone call if necessary) immediately once the bid or offer has been filled.
When the Supplier provides the Authorised Representative with its Wholesale Market Price Quotation, the Authorised Representative shall immediately accept or reject the quotation.
In providing a Wholesale Market Price Quotation, the Supplier shall use all reasonable endeavours to achieve the price (or a price within the floor or ceiling) specified by the Authority.
During Trading Hours on any Working Day up to and including the Last Fixing Day, the Authorised Representative may, by telephone, request the Supplier to provide it with a quotation for the sale or purchase of Baseload Blocks or Peakload Blocks of an Electricity Product on the wholesale electricity market (a Wholesale Market Price Quotation).