Consultation on the Market Index Definition Statement Review 2020

Our yearly analysis suggests that there are no further changes to the MIDS required at this time, with the current Individual Liquidity Threshold (ILT), timeband weightings and product weightings remaining suitable.

Summary

BSC Parties should note that as part of the BSC Modification P410 workgroup, the future of the MIDS will be determined. From 15 January 2021, the MIP cannot be used as a component of the System Price calculation in order for the BSC to comply with the European Balancing Guideline.

The MIDS Review 2020 consultation includes a question to BSC Parties to help understand how the MIP is used outside of the System Price calculation and what consequences there would be for Parties if the calculation of the MIP was discontinued.

Response

Responses to the Consultation closed on Friday 18 September.

During that time response period we had one response, which you can find below.

More about the MIDS

The Market Index Definition Statement (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.

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