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A-Z Finder

 

L

    Lag Time

    means the parameterised response time required for a Generator Unit to make the control adjustments necessary to implement a Dispatch Instruction for the purpose of Appendix O: “Instruction Profiling Calculations” only.

     

    Legal Requirement

    means any requirement under Applicable Laws, any applicable Licence, any applicable Distribution Code, Grid Code or Metering Code or any requirement, direction, determination, decision, instruction or rule of any Competent Authority.

     

    Letter of Credit

    means an unconditional and irrevocable standby letter of credit, demand guarantee or charge bond in the form set out in Appendix A: “Standard Letter of Credit”.

    For more information on Credit please click here

    LIBOR

    means the rate published in the London Financial Times as the London Interbank Offered Rate (for the previous banking day) on the banking day immediately following the due date for the payment of a sum due under the Code for overnight deposits in the Currency of such sum.

     

    Licence

    means an electricity generation licence or an electricity supply licence, transmission system operation licence, distribution system operator licence, transmission system owner licence, market operator licence or any other relevant licence as the context may require, granted by the Regulatory Authorities pursuant to Section 14 of the Electricity Regulation Act 1999 (Ireland) or Section 10 of the Electricity (Northern Ireland) Order 1992 and “Licensee” shall be construed accordingly.

     

    Licence Effective Date

    means the date from which the relevant Licence is effective.

     

    Licence Expiry Date

    means the date until which the relevant Licence is effective

     

    Licence Reference Number

    means the reference number of the relevant Licence.

     

    Limited Communication Failure

    means a period during which one or more Parties or Participants, but not all Parties or Participants and not the Market Operator, a System Operator or Meter Data Provider, fail to comply with the data submission requirements because of a technical, communication or IT systems error outside the Market Operator’s Isolated Market System.

    For more information on Limited Communication Failure, please click here

    Load Forecasts

    means either the Annual Load Forecast, the Monthly Load Forecast or the Four Day Load Forecast or all of them as appropriate.

     

    Load Up Break Point Cold

    means the break point which defines the shared MW boundary between the Loading Rates Cold.  The first Loading Rate Cold applies from Block Load to the first Load Up Break Point Cold, the second Loading Rate Cold applies from the first Load Up Break Point Cold to the second Load Up Break Point Cold and the third Loading Rate Cold applies from the second Load Up Break Point Cold to Minimum Generation.

     

    Load Up Break Point Hot

    means the break point which defines the shared MW boundary between the Loading Rates Hot.  The first Loading Rate Hot applies from Block Load to the first Load Up Break Point Hot, the second Loading Rate Hot applies from the first Load Up Break Point Hot to the second Load Up Break Point Hot and the third Loading Rate Hot applies from the second Load Up Break Point Hot to Minimum Generation.

     

    Load Up Break Point Warm

    means the break point which defines the shared MW boundary between the Loading Rates Warm.  The first Loading Rate Warm applies from Block Load to the first Load Up Break Point Warm, the second Loading Rate Warm applies from the first Load Up Break Point Warm to the second Load Up Break Point Warm and the third Loading Rate Warm applies from the second Load Up Break Point Warm to Minimum Generation.

     

    Loading Rate Cold

    means the rate at which a Generator Unit increases Output from Block Load to Minimum Stable Generation when it is instructed to Cold Start.

     

    Loading Rate Hot

    means the rate at which a Generator Unit increases Output from Block Load to Minimum Stable Generation when it is instructed to Hot Start.

     

    Loading Rate Warm

    means the rate at which a Generator Unit increases Output from Block Load to Minimum Stable Generation when it is instructed to Warm Start.

     

    Local Network Constraint

    means a constraint due to local network conditions for the purpose of Appendix O: “Instruction Profiling Calculations” only.

     

    Loss-Adjusted

    means, when applied to any variable, or the inclusion of letters ‘LF’ at the end of any variable term, that a value is to be calculated at the Trading Boundary, through the application of the relevant Combined Loss Adjustment Factors in accordance with this Code.

     

    Loss Adjustment Factors Data

    means data consisting of Transmission Loss Adjustment Factors and Distribution Loss Adjustment Factors for each Generator Unit in each Trading Period.

     

    Loss of Load Probability for the Capacity Period Data Transaction

    is a Data Transaction in relation to the Loss of Load Probability for the relevant Capacity Period detailed in Appendix K: “Market Data Transactions”.

     

    Loss of Load Probability or LOLP

    means the probability that there will be insufficient Generation to meet the Demand in the Pool.  Two varieties of Loss of Load Probability are determined as part of the Capacity Payments calculation: λ determined ex-ante and φ determined ex-post, both calculated as set out in Appendix M: “Description of the Function for the Determination of Capacity Payments”.

     

    Loss of Load Probability Table

    means a table of data relating to Input Margin and Output Loss of Load Probability used in the derivation of Loss of Load Probability.

     

    Low Materiality

    means an amount below €50,000 in respect of a single Participant.

     

SEMO is a joint venture between EirGrid PLC and SONI Limited