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Market research & Insight

Issue 482 | P305 & P316

Issue 482 | P305 & P316

Josephine Lord Josephine Lord Consultant

Ofgem decisionsP305 Electricity Balancing Significant Code Review DevelopmentsP316 Introduction of a Single Marginal Cash-out Price 7 April 2015 Ofgem issued its decision to approve the original version of P305 and to reject the alternative on 2 April; it also rejected P316 that included a single marginal price and reductions to the Price Average Reference (PAR) volume but not the other elements included in P305. P305 will: reduce the Price Average Reference (PAR) Volume, the volume of the most expensive balancing actions used in the calculation of the cash-out price, from 500MWh to 50MWh on 5 November 2015 and then to 1MWh on 1 November 2018; introduce a ...

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