CP1359

Formal title: Introducing new products into the Market Index Definition Statement

Current Status

Submission
Assessment
CPC Consultation
Committee Decision
Awaiting Implementation
Implemented

Summary

At its meeting in October, the BSC Panel considered the annual Review of the Market Index Definition Statement (MIDS). CP1359 proposes to incorporate:A 1 hour block product is being launched on the APX power exchange from Quarter 4 2011, this should be included in the MIDS with a weighting of one and hence included in the calculation of the Market Index Price.Also both the APX and N2EX power exchanges offer a Day Ahead Auction product. It is not proposed that this be used to calculate the reverse price, but that it should be included in the Market Index Definition Statement as a relevant product with a zero weighting.

Progression

CP1359 was raised and issued for industry impact assessment as part of CPC00704 on 28 October 2011, with responses due back on 24 November 2011. It was approved by the ISG on 20 December 2011 for implementation on 1 April 2012.

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