Consultation on the Market Index Definition Statement (MIDS) Review 2021
We are seeking your views on the annual Market Index Definition Statement (MIDS) review. If you represent BSC Parties or any other party in connection with the MIDS please respond to this online consultation.
The MIDS defines the use of Market Index Data to calculate the Market Index Price (MIP), a price reflective of wholesale electricity for a Settlement Period in the short term market. An annual review of this document is required by the BSC, to ensure that the MIP is providing a reasonable reflection of the price of wholesale electricity in the short term market.
Our yearly analysis suggests that the MIDS requires no further changes at this time, with the current Individual Liquidity Threshold (ILT), timeband weightings and product weightings remaining suitable.
How it relates to you
The Imbalance Settlement Group (ISG) will consider responses to this consultation at its meeting on 5 October 2021, where a final recommendation will be made to the BSC Panel for approval.
The consultation is seeking responses on the following questions:
- Do you agree with the current timeband weightings?
- Do you agree with the current product weightings?
- Do you agree that the Individual Liquidity Threshold should remain at 25 MWh?
These consultation questions were approved by the ISG at its meeting on 7 September 2021. The ISG also noted the MIDS Review 2021 digital analysis.
How to respond
You can respond to this consultation online. All responses must be submitted by 17:00 on 24 September 2021. For any enquiries about responding to this consultation, please contact [email protected]