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A-Z Finder

 

U

    Undefined Exposure

    means as defined in paragraph 6.189.

     

    Undefined Exposure Period

    means, for any Working Day, the period from the latest Trading Day for which results have been published in a Settlement Statement, in the case of Trading Charges exposure and from the last Trading Day in the latest Invoice for Capacity Charges in the case of Capacity Charges, in each case to the point in time when, following payment default, a Participant’s Units could be suspended.  Such periods are published in the Settlement Calendar.

     

    Undefined Potential Exposure

    means the potential credit exposure resulting from accrued obligations that have not yet been included in any Settlement Statements and from undefined obligations which would be likely to have accrued before a Participant’s Units could be Suspended from trading in the Pool for payment default.

     

    Under Test

    means the under test status accorded to certain Generator Units by the relevant System Operator subject to the requirements that the Market Operator has verified the status with the relevant System Operator and that the relevant Unit is so permitted as set out in paragraph 5.169.

    For more information on units under test, please click here

    Under-Generation MSP Constraint Cost

    means a value that is used within the MSP Software as set out within Appendix N: “Operation of the MSP Software”.

     

    Uninvoiced Billing Period

    means a Billing Period for which an Invoice has not been issued.

     

    Uninstructed Imbalance

    means the difference between the Dispatch Quantity and the Actual Output of a Generator Unit.

     

    Uninstructed Imbalance Parameter Data Transaction

    is a Data Transaction in relation to Uninstructed Imbalance Parameters detailed in Appendix K: “Market Data Transactions”.

     

    Uninstructed Imbalance Parameter

    means the parameters defined in paragraph 4.145 used in the calculation of Uninstructed Imbalances, consisting of Engineering Tolerance, MW Tolerance, System per Unit Regulation parameter, Discount for Over Generation for each Generator Unit in each Trading Period and Premium for Under Generation for each Generator Unit in each Trading Period.

     

    Uninstructed Imbalance Payment

    means a payment in respect of a Generator Unit when its Actual Output differs from its Dispatch Quantity by an amount greater than its Tolerance Band.  Such payments may be positive or negative.

    For more information on payments please click here (Link to Settlements Factsheets)

     

    Unit

    means a Generator Unit or Supplier Unit or any or all of them, as the case may be.

     

    Unit Commitment Schedule

    means a schedule determined by each run of the MSP Software prior to the calculation of Market Schedule Quantities, and denoting, for each Price Maker Generator Unit that is not Under Test, whether or not it will be scheduled to run, and additionally for each Pumped Storage Unit, whether it will be pumping or generating if scheduled to run, in each Trading Period in the Optimisation Time Horizon.

     

    Unit Forced Outage Rate

    The proportion of a Generator Unit’s Registered Capacity that was not available in a Year for reasons other than the Generator Unit being on scheduled maintenance or being Under Test.

     

    Unit Historic Forced Outage Factor

    The time-weighted average of Unit Forced Outage Rate for a Generator Unit over a 5 year period.

     

    Unit Load

    means the difference between the Gross Output and Net Output of a Generator Unit, which reflects the load associated with the Generator Unit.

     

    Unit Location ID

    means the location identifier of a particular Generator Unit.

     

    Unit Owner

    means, in respect of any Generator or Generator Unit (as the context permits), the person who owns or legally controls that Generator or Generator Unit.

     

    Unit Registration

    means registration of a Unit in accordance with Section 2.

    For more information on Registration, please click here

    Unit Under Test End Date

    means the date specified in a Generator Unit Under Test Notice as the end date for Under Test status for a Generator Unit.

    For more information on Unit Under Test, please click here

    Unit Under Test Ending Trading Day

    means the Trading Day on which Under Test status ceases to apply for a Generator Unit.

    For more information on Unit Under Test, please click herePricingandSchedulingFactsheet.aspx

    Unit Under Test Start Date

    means the date specified in a Generator Unit Under Test Notice as the start date for Under Test status for a Generator Unit.

     For more information on Unit Under Test, please click here

    Unit Under Test Starting Trading Day

    means the Trading Day on which Under Test status begins to apply for a Generator Unit.

    For more information on Unit Under Test, please click here

    Unsecured Bad Capacity Debt

    means an Unsecured Bad Debt that has arisen based on a Shortfall arising from non-payment of Capacity Charges.

     

    Unsecured Bad Debt

    means a debt which arises as a result of the events set out in paragraph 6.55 and including Unsecured Bad Energy Debt and Unsecured Bad Capacity Debt. For the avoidance of doubt, this definition applies only for the purposes of the Code, and is not intended to imply that any particular sum is a “bad debt” within the meaning of this expression in any financial or accounting definition, standard or practice.

     

    Unsecured Bad Energy Debt

    means Unsecured Bad Debt that has arisen based on a Shortfall arising from non-payment of Energy Charges.

     

    Upheld Dispute

    means a Dispute becomes an Upheld Dispute when the Dispute Resolution Board or other Competent Authority has resolved the Dispute in accordance with the Dispute Resolution Process and has determined that Settlement Items have changed as a result of the Dispute.

     

    Uplift

    means a component of the System Marginal Price for each Trading Period which is calculated, in accordance with Appendix N “Operation of the MSP Software”, to reflect the Start Up Cost and No Load Cost elements of Schedule Production Cost for relevant Generator Units.

    For more information on Uplift, please click here

    Uplift Alpha (α)

    means a parameter used in the calculation of Uplift to determine the importance of the Uplift Cost Objective.  The value of Uplift Alpha lies between 0 and 1 (inclusive), determined in accordance with paragraph 4.70.

     

    Uplift Beta (β)

    means a parameter used in the calculation of Uplift to determine the importance of the Uplift Profile Objective.  The value of Uplift Beta lies between 0 and 1 (inclusive) and α + β = 1, determined in accordance with paragraph 4.70.

     

    Uplift Cost Objective

    means that part of the Uplift algorithm as set out in paragraph 4.68.

     

    Uplift Delta (δ)

    means a parameter used in the calculation of Uplift to cap the overall impact on Energy Payments arising from Uplift in each Trading Day compared with the minimum level.  The value of Uplift Delta lies between 0 and 1 (inclusive), determined in accordance with paragraph 4.70.

     

    Uplift Profile Objective

    means that part of the Uplift algorithm as set out in paragraph 4.68.

     

    Urgent

    has the meaning set out in paragraph 2.208 in relation to a Modification Proposal.

     

    Use of System Agreements

    means a form of agreement between a Participant and either the Distribution System Operator or the System Operator, as appropriate, for the use of the relevant Distribution System or relevant Transmission System respectively in respect of any or all of the Participant’s Units.

     

    Utilities Directive

    means Directive 2004/17/EC of the European Parliament and of the Council of 31 March 2004 coordinating the procurement procedures of entities operating in the water, energy, transport and postal services sectors as may be amended or replaced from time to time.

     

SEMO is a joint venture between EirGrid PLC and SONI Limited