How can I determine my ICAP Import Contract delivery penalty from real-time data?
A Market Participant entering an ICAP Import Contracts may be charged a monthly failure to deliver penalty. Section III.8.3.7.3.1.2 of Market Rule 1 provides for the imposition of penalties for failure to deliver energy as required under the energy transactions supporting and ICAP Import Contract. The delivery test is an hourly test and a delivery shortfall will be calculated for all required hours identified as having delivery MW less than the requested delivery MW. For each month, any delivery shortfall hours identified will be summed to determine the monthly total number of delivery shortfall hours. In addition, the number of hours in which energy was requested for delivery will be summed to determine the monthly total number of requested hours. The Market Participant entering the ICAP Import Contract will be charged a failure to deliver penalty equal to the monthly percentage of required hours without full delivery relative to required hours that energy was requested, times the UCA
