A-Z Finder

 

P

    Panel

    means the panel for dispute resolution selected in accordance with paragraphs 2.291 to 2.298.

     

    Participant

    means a Party or business division of a Party which at the relevant time has been designated as, or deemed to be, the “Participant” in relation to any Units which have been registered accordance with the Code.

     

    Participation Fee

    means a fee to be paid to the Market Operator in respect of a registration application for a Unit or Units.  The Participation Fee shall be set annually by the Regulatory Authorities.  Please click here for further information

    Participation Notice

    means the notice referred to in paragraph 2.33 and detailed in Appendix H: “Participant and Unit Registration and Deregistration” which a Party or Applicant must issue to apply to register a Unit in the name of a Participant.  Please click here for more information

    Party

    means any person who is a party to the Framework Agreement and is thereby bound by the Code, and shall include its successors and permitted assigns.  Please click here for more information

    Payment Due Date

    means the date and time before which any sum due for payment under the Code must, pursuant to its terms or the direction of any Competent Authority, be paid.

     

    Personal Data

    has the meaning set out in the Data Protection Legislation.

     

    Physically Feasible

    means levels of Output which are physically feasible for a Generator Unit based on its Technical Capabilities, including intertemporal constraints.

     

    Physical Location ID

    means the physical location identifier of a particular Generator Unit. Please click here for more information

    Pool

    means a gross mandatory pool for the sale and purchase of wholesale electricity on the island of Ireland in accordance with the terms of this Code.

     

    Posted Credit Cover

    means at any time the total amount of Credit Cover provided by a Participant posted in their designated Currency and in the form of Letters of Credit and/or a deposit in a SEM Collateral Reserve Account.

     

    Pounds sterling

    means the Currency of Northern Ireland.

     

    Preceding MSP Run

    means, for any given Optimisation Time Horizon and the associated run of the MSP Software, the most recent Valid MSP Solution which relates to the Optimisation Time Horizon starting one Trading Day earlier and which is of the same MSP Software Run Type.

     

    Predictable Generator Unit

    means a Generator Unit with predictable Availability which is Dispatchable, and can include all types of Generator Unit, except Wind Power Units and Run-of River Hydro Units that are considered as being Variable Generator Units.

     

    Predictable Price Maker Generator Unit

    means a Predictable Generator Unit which is a Price Maker Generator Unit.

     

    Predictable Price Taker Generator Unit

    means a Predictable Generator Unit which is a Price Taker Generator Unit.

     

    Premium for Under Generation

    means a factor by which prices applied in respect of a Generator Unit which under generates by more than the relevant Tolerance Band shall be increased, and which is used in the calculation of Uninstructed Imbalances.

     

    Previously Registered Flag

    means a flag to indicate whether a Generator Unit or Supplier Unit has previously been registered to a different Participant in the Single Electricity Market.

     

    Previously Registered Participant Name

    means the previously registered name associated with a particular Participant which was previously registered in the Single Electricity Market.

     

    Previously Registered Unit Name

    means the previously registered name associated with a particular Generator Unit or Supplier Unit which was previously registered in the Single Electricity Market.

     

    Price

    means the price associated with a specified Quantity within a Price Quantity Pair.

     

    Price Maker Generator Unit

    means a Generator Unit that is Dispatchable and may be a Variable Price Maker Generator Unit or a Predictable Price Maker Generator Unit as set out in paragraphs 2.53 to 2.56.

     

    Price Quantity Pair(s)

    means Prices and Quantities for Generator Units as part of Commercial Offer Data.

     

    Price Taker Generator Unit

    means a Generator Unit that may be a Variable Price Taker or a Predictable Price Taker Generator Unit or an Autonomous Generator Unit as set out in paragraphs 2.53 to 2.56.

     

    Priority Dispatch

    means priority dispatch according to the factors set out in the Licence granted to each System Operator pursuant to applicable governing legislation and applied by the Grid Code.

     

    Priority Dispatch Flag

    means a flag to indicate whether a Generator Unit has Priority Dispatch.

     

    Processing

    means as defined in applicable Data Protection Legislation and “Processes” shall be construed accordingly.

     

    Proposal Notice

    means the notice of a Modification Proposal to be published in accordance with paragraph 2.193.

     

    Prudent Electric Utility Practice

    means those standards, practices, methods and procedures conforming to safety standards and Legal Requirements which are attained by exercising that degree of skill, care, diligence, prudence and foresight which would reasonably and ordinarily be expected from a skilled and experienced operator in Europe engaged in the same type of undertaking under the same or similar circumstances.

     

    Prudent Industry Operator

    means an operator engaged in the electric utility industry which performs in accordance with Prudent Electric Utility Practice.

     

    Pumped Storage Cycle Efficiency

    Means, for a Pumped Storage Unit, a percentage value calculated from the level of Generation provided by the release of defined quantity of water from the upper reservoir to the lower reservoir through the Pumped Storage Unit turbine(s) divided by the level of Demand required to pump the same defined quantity of water from the lower reservoir to the upper reservoir.

     

    Pumped Storage Flag

    means a flag to indicate whether a Generator Unit is a Pumped Storage Unit.

     

    Pumped Storage Unit

    means a Generator Unit within a pumped storage plant where a fluid is pumped to a storage container when in pumping mode and the fluid’s flow back is used to drive a turbine which powers a generator when in generating mode.

    For more information on Pumped Storage Units, please click here

     

    Pumping Capacity

    means the maximum amount of Active Power in MW consumed by a Pumped Storage Unit when in pumping mode.

     

SEMO is a joint venture between EirGrid PLC and SONI Limited