P217 – Revised Tagging Process and Calculation of Cash Out Prices

Formal title: Revised Tagging Process and Calculation of Cash Out Prices

Summary

P217 Proposed would introduce a new set of rules to replace the existing main Energy Imbalance Price tagging rules. The intention of the new rules was to remove or replace costs arising from balancing actions that resolve transmission constraints. These costs are not considered suitable for inclusion in a pure energy price. P217 Proposed would reduce the Price Average Reference (PAR) volume to 100MWh. P217 Alternative, now approved, is identical to the Proposed solution described above, except that the current PAR volume of 500MWh will be retained.Who is impacted? The main implementation impacts of P217 are as follows: •Parties: would need to amend their systems to receive the updated SAA I0-14 flow; •Transmission Company: would amend their systems to flag constraint resolving actions, send disaggregated Balancing Services Adjustment Data (BSAD) to the BSC Systems, and receive the updated SAA I0-14 flow; and •BSC Central Services Agent: would amend the BSC Systems to receive disaggregated BSAD and flagged actions, update the main Energy Imbalance Price calculation to reflect the P217 methodology, send the updated SAA I0-14 flow, and update the Balancing Mechanism Reporting Service (BMRS) to report new data items. The main operational impacts of P217 would fall on: •Parties exposed to Imbalance charges: would be impacted by Imbalance Prices calculated under a new methodology; •Transmission Company: would need to flag constraint resolving actions; and •BSC Central Services Agent: would receive disaggregated BSAD and flagged data, would send the updated SAA I0-14 flow and would maintain the updated BMRS.