P304 – Reduction in PAR from 500MWh to 250MWh
Formal title: Reduction in PAR from 500MWh to 250MWh
Current Status
Summary
P304 has been raised to progress the outcomes of the Electricity Balancing Significant Code Review (EBSCR), and proposes to reduce the Price Average Reference (PAR) value from 500MWh to 250MWh ahead of Winter 2014/15.
Progression
National Grid raised P304 on 25 May 2014. The Panel agreed to submit P304 to an Assessment Procedure by a Workgroup, during which P304 underwent the Workgroup’s Assessment Consultation. The Workgroup recommended that P304 should be approved, and its Assessment Report was presented to the Panel at its meeting on 11 September 2014.
The Panel initially recommended that P304 should be rejected, and issued P304 for its Report Phase Consultation. The Panel made its final recommendation that P304 should be rejected at its meeting on 9 October 2014. The Authority rejected P304 on 28 October 2014.