Energy Imbalance Price Parameters
PAR Volume
The Price Averaging Reference (PAR) Volume was introduced on a ‘Settlement Period’
basis for Approved Modification P194 ‘Revised Derivation of the ‘Main’ Energy Imbalance
Price’ as amended by P205 ‘Increase in PAR Level from 100 MWh to 500 MWh’ on 2 November
2006.
|
Effective From Date |
Effective To Date |
Value of PAR |
|
02/11/2006 |
N/A |
500MWh |
PAR is used to tag Bid-Offer acceptances such that a maximum volume of PAR MWh is
used to set the Main Energy Imbalance Price.
The value of PAR may only be amended by an Approved Modification.
Minimis Acceptance Threshold (DMAT)
The De Minimis Acceptance Threshold is a parameter used to eliminate Bid/Offer acceptances
of small volume (currently less than 1 MWh).
|
Effective From Date |
Effective To Date |
Value of DMAT |
|
11/05/2001 |
N/A |
1MWh |
This value is written into the text of the
BSC Section T(321Kb)
Paragraph 1.7 with the stipulation that the BSC Panel may review it from time to
time. DMAT was introduced in the implementation of
Modification Proposal P10 Eliminating Imbalance Price Spikes Caused By Truncating Effects’(10Kb)
(raised by the Transmission Company) on 11 May 2001.
Proposed revisions to the value of DMAT are consulted upon with the Transmission
Company and Trading Parties before a Panel determination is made, and are subject
to approval by the Authority.
Continuous Acceptance Duration Limit (CADL)
CADL is used to remove short duration Bid-Offer acceptances, associated with system
balancing actions, from the Energy Imbalance Price calculation.
A Bid-Offer acceptance relating to any given Balancing Mechanism (BM) Unit will
be removed from the system price calculation if it has duration of less than the
CADL value in minutes.
|
Effective From Date |
Effective To Date |
Value of CADL |
|
25/09/2001 |
N/A |
15 Minutes |
CADL was introduced into the BSC as part of the implementation of
Approved Modification P18 ‘Removing/Mitigating the Effect of System Balancing Actions
in the Imbalance Price,’ in September 2001. CADL is defined in
BSC Section T(321Kb)
Paragraph 3.1B.
The BSC Panel may revise the value of CADL after consulting with BSC Parties but
subject to the approval of the Authority.
Market Index Definition Statement (MIDS) Parameters
The Market Index Definition Statement (MIDS) defines two main parameters. These
are the Individual Liquidity Threshold (ILT) and (time and product) weightings.
Market Index Data is used in Settlement to calculate a price, expressed in £/MWh
in respect of each Settlement Period which reflects the price of wholesale electricity
in Great Britain for delivery in respect of that Settlement Period in the short
term market circumstances where the levels of liquidity in the market during that
period are not exceptionally low.
The Market Index Definition Statement (MIDS) defines the parameters for use by the
Market Index Data Provider (MIDP) in the provision of Market Index data (MID) to
the Settlement Administration Agent (SAA). The MIDS was approved for use by the
Authority on 11 March 2003 as part of
Approved Modification Proposal P78 ‘Revised definitions of System Buy Price and
System Sell Price’.
Version 5.0 of the MIDS(142Kb)
is available on the BSC and Related Documents
page of the ELEXON website.
In accordance with the obligation set out in
BSC section T(321Kb)
Paragraph 1.5.2 the Market Index Definition Statement contains the Individual Liquidity
Threshold (ILT) and product and timeband weightings, these are detailed below:
|
MIDP |
From |
|
Settlement Periods |
ILT |
|
APX |
01 April 2005
|
For |
1-48 |
25MWh |
|
|
Product |
1 |
2 |
3 |
4 |
5 |
6 |
7 |
8 |
9 |
11 |
12 |
|
Half-Hour |
H |
1 |
1 |
1 |
1 |
1 |
1 |
1 |
1 |
0 |
0 |
0 |
|
2 Hour Block |
2 |
1 |
1 |
1 |
1 |
1 |
1 |
1 |
1 |
0 |
0 |
0 |
|
4 Hour Block |
4 |
1 |
1 |
1 |
1 |
1 |
1 |
1 |
1 |
0 |
0 |
0 |
|
Extended Peak |
E |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
|
Overnight |
O |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
|
Peak |
P |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
The Market Index Definition Statement is reviewed by the BSC Panel at least once
every 12 months. Any proposed changes are consulted upon with BSC Parties and other
interested Parties before the Panel determines that a change is to be made. A change
to the MIDS is subject to approval by the Authority.