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Valid MSP Solution
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has the meaning set out in paragraph 4.75.
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Validated
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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.
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Validation Notice
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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.
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Validation Registration Data
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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.
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Validation Technical Offer Data
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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.
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Value Added Tax or VAT
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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.
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Value of Lost Load or VOLL
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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.
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Variable Generator Unit
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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.
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Variable Market Operator Charge
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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
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Variable Market Operator Price
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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.
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Variable Price Maker Generator Unit
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means a Variable Generator Unit which is a Price Maker Generator Unit.
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Variable Price Taker Generator Unit
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means a Variable Generator Unit which is a Price Taker Generator Unit.
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VAT Agreement
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means as defined in paragraph 6.260.
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Voluntary Termination
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means the voluntary Termination of a Party at its own request and in accordance with paragraphs 2.262 to 2.267.
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Voluntary Termination Consent Order
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means an order issued by the Market Operator to a Party pursuant to paragraph 2.265.
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Voluntary Termination Date
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means the Trading Day specified in a Voluntary Termination Consent Order in accordance with paragraph 2.266.
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