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Market research & Insight

Issue 408 | P304

Issue 408 | P304

Josephine Lord Josephine Lord Consultant

New modification proposalP304 Reduction in PAR from 500MWh to 250MWh 17 June 2014 This proposal is one of two raised by National Grid on 30 May to progress the outcomes of the Electricity Balancing Significant Code Review (EBSCR) following a direction from Ofgem. It proposes to reduce the Price Average Reference (PAR) value from 500MWh to 250MWh ahead of winter 2014-15, which will make the main imbalance price more marginal by reducing the volume over which the System Operator’s (SO) actions to balance the system are averaged. This is to address the regulator’s concern that the current imbalance arrangements ...

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