P443 Assessment Procedure Consultation
P443 seeks to limit the exposure of all GB parties, including consumers, to extreme prices because of tight margins across the European energy markets.
What is proposed?
The Workgroup are considering three options to achieve this and seek industry views from this consultation to help determine whether to raise a formal Alternative Modification:
- Proposed Solution – cap Interconnector actions to VoLL in the Imbalance price calculation
- Potential Alternative Solution 1 – cap all actions to VoLL in the Imbalance price calculation
- Potential Alternative Solution 2 – prevent Interconnector trades above VoLL
The Proposed and Potential Alternative Solution 1 would enable NGESO to take any actions it deems necessary, but would apply the cap in the Imbalance price calculation where the relevant actions exceed VoLL, currently £6,000/MWh.
Potential Alternative Solution 2 proposes to stop NGESO trading with Interconnector Users at a price that is above VoLL.