MIDS Review Consultation
Who will this impact?
The Market Index Definition Statement (MIDS) defines the way the Market Index Price – used to determine the ‘reverse’ Energy Imbalance Price – is calculated. We review the MIDS annually, as required by the Balancing Settlement Code (BSC).
Our analysis shows that the current Individual Liquidity Threshold (ILT), timeband weightings and product weightings are suitable. However, the calculation could better reflect trades close to Gate Closure. We recommend excluding trades more than eight hours ahead of Gate Closure rather than the current 12 hours.
Due to some amendments made, Price changes has been updated to version 2 below.