Consultation on the Market Index Definition Statement (MIDS) Review 2023
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 consultation closed with no responses.
The Panel agreed that no change is made to the Market Index Definition Statement (MIDS).
What is proposed?
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.
Your views are specifically sought on the following:
- 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?
- Do you agree with the Market Index Price (MIP) and Market Index Volume (MIV) defaulting to zero?