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Market research & Insight

Issue 448 | P304

Issue 448 | P304

Josephine Lord Josephine Lord Consultant

Ofgem decisionP304 Reduction in PAR from 500MWh to 250MWhP314 Reduction in PAR from 500MWh to 350MWh 28 October 2014 Ofgem issued its decision on 28 October to reject both P304 and P314. P304 Reduce PAR from 500MWh to 250MWh 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 sought 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. P314 Reduce ...

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