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EU Balancing Code – Mod 494 Imbalance Charge Amendments

The EU Gas Balancing Code governs the calculation of imbalance charges, with the GB scheme aligning largely with its guidelines. However, necessary amendments are identified for setting the System Marginal Buy Price and Sell Price. Key proposed changes focus on ensuring that these prices reflect the highest and lowest balancing action offer prices for each day. For further clarity on these adjustments and their implications, please reach out to Deborah Brace at National Grid by email or phone.

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EU Balancing Code – Mod 494 Imbalance Charge Amendments

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  1. EU Balancing Code – Mod 494 Imbalance Charge Amendments EU Workgroup 1st May 2014

  2. Content • EU Gas Balancing Code sets out the imbalance charge calculation • GB scheme is mostly in line with the EU Code. However, there are changes required for setting: - • SMP Buy Price • SMP Sell Price 2

  3. UNC v EU Balancing Code

  4. Options

  5. Proposed Change to Match EU Definition 1.2.1 Subject to paragraphs 1.2.2 and 1.2.5, for each Day: (a) the "System Marginal Buy Price" is the greater of: (i) the System Average Price plus the Default System Marginal Price; and (ii) the price in pence/kWh which (subject to Section D4.1.4, 4.1.5(a)) is equal to the highest Balancing Action Offer Price in relation to a Market Balancing Buy Action taken for that Day; (b) the "System Marginal Sell Price" is the lesser of: (i) the System Average Price less the Default System Marginal Price; and (ii) the price in pence/kWh which (subject to Section D4.1.4, 4.1.5(b) and 4.1.7) is equal to the lowest Balancing Action Offer Price in relation to a Market Balancing SellAction taken for that Day;

  6. Any questions Please contact me on 01926 653233 or deborah.brace@nationalgrid.com 6

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