Market Back Up Price Reference Corrections

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Presentation transcript:

Market Back Up Price Reference Corrections MOD_26_18 Market Back Up Price Reference Corrections 16th August 2018

Summary Information Two items have been identified whereby reference to the section where the Market Back Up Price is determined are incorrectly stated as in accordance with section E.4.6 whereas the correct section is E.5 The incorrect references are contained in; Paragraph E.2.2.4 which details the circumstances under which the Market Back Up Price is used and Paragraph G.17.3.1 which details the calculation of the Imbalance Component Payment or Charge using the Market Back Up Price whenever administered settlement is in effect

Legal Drafting

Justification and Implications of not Implementing This proposal aims to correct two incorrect references to ensure accuracy If this proposal is not implemented these references will remain incorrect leading to a lack of transparency