Formal title: Introduction of a non-Working Day adjustment to the Credit Cover Percentage calculation
P326 proposes to introduce a method to account for reductions in Supplier demand on non-Working Days within the Credit Cover calculations. This would allow the calculation to better reflect actual demand and increase the accuracy of the level of Credit Cover that Parties are required to lodge.
The Proposed Modification seeks to do this by applying a Demand Capacity Factor (DCF) to the calculation of Supplier BM Units’ BM Unit Credit Assessment Import Capacity (BMCAIC).
The Alternative Modification seeks to do this by calculating two Credit Assessment Load Factor (CALF) values for Supplier BM Units, with one applying to Working Days and the other to non-Working Days.
P326 was raised by Haven Power Ltd on 25 August 2015. The Panel agreed to submit P326 to the Assessment Procedure, during which P326 has been issued for an Industry Impact Assessment and for the Workgroup’s Assessment Consultation. The Workgroup recommended that the Alternative Modification should be approved, and its Assessment Report was presented to the Panel on 10 March 2016.
The Panel initially recommended that the Alternative Modification should be approved and issued its Report Phase Consultation. It determined to approve the P326 Alternative Modification under Self-Governance on 14 April 2016 for implementation on 23 February 2017 as part of the February 2017 BSC Systems Release. As part of this, it agreed that the application of separate WD/NWD CALF values would commence on 1 March 2017 at the beginning of the Spring 2017 BSC Season. No appeals were notified, and so the Panel’s decision is final.
P326 was implemented on 23 February 2017.