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Market research & Insight

Issue 433 | P304

Issue 433 | P304

Josephine Lord Josephine Lord Consultant

Report stage consultationP304 Reduction in PAR from 500MWh to 250MWh 16 September 2014 The report stage consultation has been issued for this proposal following the BSC Panel’s recommendation to reject the proposal. P304 was raised by National Grid alongside P305 Electricity Balancing Significant Code Review Developments at the close of the Electricity Balancing Significant Code Review (EBSCR) following a direction from Ofgem. P304 seeks to change the main imbalance price calculation so as to reduce the Price Average Reference Volume (PAR) from 500MWh to 250MWh, making the imbalance price more marginal ahead of winter 2014-15 (see our Alert dated 17/06/14). PAR ...

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