Settlements terminology

• Meter Authority is the entity responsible for the calibration, maintenance, operation, and reporting of metered data from a revenue meter used in wholesale electricity markets.

• Daily Settlements Data is the best available version of energy values for a given Settlement Day. The Meter Authority is responsible to send settlements data to the market operator.

• Intertie Point is an interconnection permitting passage of current between two or more electric utility (distribution or transmission) systems.

• Official Load Values (OLV) are reading values sent to and received from the market operator.

• Unofficial Load Values (ULV) are reading values that are calculated and potentially sent to the market operator, but not officially accepted by them. In other words, the ULV is the "work in progress" version of the OLV. It is also possible to receive ULV from the market operator.