A-Z Finder

 

V

    Valid MSP Solution

    has the meaning set out in paragraph 4.75.

     

    Validated

    means, in relation to a CMS Data Transaction, that the Data Transaction has been determined by the Market Operator to be valid, in accordance with paragraph 3.35.

     

    Validation Notice

    means a notice sent by the Market Operator to the Sending Party specifying that the Data Transaction concerned is valid and has been accepted by the Market Operator.

     

    Validation Registration Data

    means certain Registration Data items, as set out in Appendix H "Participant and Unit Registration and Deregistration" in respect of a Generator Unit that are validated by the Market Operator against the Primary Data Set and the Alternative Data Set.

     

    Validation Technical Offer Data

    means certain Technical Offer Data items, as set out in Appendix I "Offer Data" in respect of a Generator Unit that are validated by the Market Operator against the Primary Data Set and the Alternative Data Set.

     

    Value Added Tax or VAT

    means, in respect of Ireland, the value added tax chargeable under the provisions of the Irish Value Added Tax Act, 1972 (as amended) or any substitute or replacement tax on the supply of goods or services; and

    means, in respect of Northern Ireland, the Value Added Tax Act 1994.

     

    Value of Lost Load or VOLL

    means the value which represents the end customer’s willingness to lose supply determined in accordance with paragraph 4.98.  The Value of Lost Load is used in the determination of Capacity Payments.

     

    Variable Generator Unit

    means a Wind Power Unit or a Run-of-River Hydro Unit that is Dispatchable, where the short-term availability of the Generator Unit is unpredictable as a result of its fuel source.

     

    Variable Market Operator Charge

    means a charge in respect of each unit of Net Demand at Supplier Units, calculated in accordance with paragraph 6.151.

    For more information on charges, please click here

     

    Variable Market Operator Price

    means the unit price at which the Market Operator Charge is levied on Participants.  The Variable Market Operator Price is proposed annually by the Market Operator and approved by the Regulatory Authorities.

     

    Variable Price Maker Generator Unit

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

     

    Variable Price Taker Generator Unit

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

     

    VAT Agreement

    means as defined in paragraph 6.260.

     

    Voluntary Termination

    means the voluntary Termination of a Party at its own request and in accordance with paragraphs 2.262 to 2.267.

     

    Voluntary Termination Consent Order

    means an order issued by the Market Operator to a Party pursuant to paragraph 2.265.

     

    Voluntary Termination Date

    means the Trading Day specified in a Voluntary Termination Consent Order in accordance with paragraph 2.266.

     

SEMO is a joint venture between EirGrid PLC and SONI Limited