Glossary
P470 ‘Protecting the Imbalance Price from IOLC related distortions’
Formal title: Protecting the Imbalance Price from IOLC related distortions
P470 seeks to reprice Offer prices in the Imbalance Settlement Price calculation where those Offers were impacted by price restrictions introduced by the Inflexible Offers Licence Condition (IOLC).
The proposed solution requires impacted Offer actions to be flagged; these flagged actions may then be repriced, with the repriced actions feeding into the calculation of the Imbalance Price. Therefore the BSC legal text needs to reflect this change.
Current Status
Submission
Assessment Procedure
Report Phase
With Authority
Awaiting Implementation
Implemented