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Elexon Imbalance Pricing Guide > Appendix > Flashcards

Appendix Flashcards

1
Q

The pricing mechanism designed to respond to system scarcity

A

Reserve Scarcity Price

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2
Q

What does the LoLP indicate?

A

The probability that there will be insufficient generating supply to meet the capacity requirement

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3
Q

Price of volumes if customers are disconnected?

A

Value of Lost Load set at $6000/MWh

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4
Q

What function is used to calculate the LoLP?

A

Dynamic Function

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5
Q

When are De-Rated Margins and LoLPs published by the ELEXON?

A

12, 8, 4, 2, and 1 hours ahead of gate closure

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6
Q

When if final LoLP calculated?

A

At gate closure using the relevant De-Rated Margin Data

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7
Q

When party swaps metered volumes with another?

A

Metered Volume Reallocation Notification

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8
Q

What is the left over cash called after imbalance volumes have been settled?

A

Residual Cashflow Reallocation Cashflow

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9
Q

Each supplier is appointed what 3 agents?

A
  1. Meter Operator
  2. Data Collector
  3. Data Aggregator
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10
Q

What is a Load Profile?

A

Represents the pattern of daily and annual electricity usage for the average customer in each profile class

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11
Q

Variables that affect the Load Profile? (5)

A
  • Temperature
  • Season
  • Time of sunset
  • Day of the week
  • Public Holidays
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12
Q

What are the three main steps to creating a Load Profile?

A
  1. Sample customers rates within GSP area (High, med, low)
  2. Profile the data using collected HH data to produce typical usage pattern
  3. Apply profile to NHH customers
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13
Q

How many profile classes are there?

A

4

  • 2 Domestic
  • 2 Commercial
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14
Q

What two parameters are used to predict volume consumption of NHH customers?

A
  • Annualized advance

- Estimated Annual Consumption

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15
Q

What is Annualized Advance (AA)?

A

Annual rate of consumption derived by extrapolating a meter advance over a year using a profile

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16
Q

What is a meter advance?

A

The difference between to NHH meter readings

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17
Q

What is an Estimated Annual Consumption (EAC)?

A

Forward looking estimate weighted using previous EAC and new AA

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18
Q

Why are profile loads used?

A

To estimate HH rates for NHH customers

19
Q

What correction method is used for load profiles?

A

Group Correction Factor (GCF)

20
Q

Why is a GCF used?

A

To correct for the two main source of error:

  1. Profiling Error
  2. Volume error
21
Q

What is the aim of the EMR?

A
  1. Decarbonization
  2. Replace old power stations
  3. Invest in new grid
22
Q

How long is the average CFD contract?

A

15 years

23
Q

Who is the main contractor for Capacity Market contracts?

A

Electricity Settlements Company (ESC)

24
Q

What are current changes to the system?

A
  • BSC Sandbox
  • Wider Access
  • Elexon Kinnect (web portal)
25
Q

What are upcoming changes to the system?

A
  • Market wide half hourly settlements

- Behind the meter (more accurate metering)

26
Q

What are future changes to the system?

A
  • Flexibility in markets and distribution system operators

- Mulitple suppliers

27
Q

Volume allocated to supplier after a Demand Disconnect instruction is issued to correct for false “long” position?

A

Demand Disconnect Volume

28
Q

Are emergency actions operations treated as BSAA or BOAs?

A

BOA

29
Q

TLM adjusted volume for each BMU is known as what?

A

Credited Energy

30
Q

Are BSAAs adjusted for TLMs?

A

No as the SO adjusts these before they are sent to the BSC, whereas BOAs will need adjusting

31
Q

What happens if there no 2nd stage unflagged actions in the PRAR vol replacement price?

A

Replacement price is calculated using Market Price

32
Q

What happens if there are no actions left after the NIV?

A

Imbalance price set equal to market price

33
Q

What happens if NIV is zero and market price is 0?

A

Imbalance price will be set to 0

34
Q

What is the maximum time that a Applicable Balancing Service Volume Data (BSVD) can be submitted after a settlement period?

A

15mins, as these volumes will be taken from party and allocated to SO

35
Q

When are Balancing Service Data Volumes identified?

A

After Settlement period

36
Q

How many BMUs do suppliers have by default?

A

14 - one for every GSP

37
Q

Who are PATs applied to? (5)

A
  1. Suppliers
  2. Meter operator Agents
  3. Data collectors
  4. Data aggregators
  5. Distribution Network Owners
38
Q

Market Wide HH Metering will be adopted when (as indicated by Ofgem)

A

Oct 2025

39
Q

How many boards are there and codes?

A

8 Boards

8 Elec Codes (12 Total)

40
Q

When were energy codes developed?

A

In the 90’s during privatization

41
Q

What is the European Target Model?

A

To created a unified European grid

42
Q

What is the Carbon floor price currently set at?

A

18.08 pounds/tCO2

43
Q

European Grid Owner?

A

European Network of Transmission System Owners for Electricity (ENTSO-E)

Elexon Imbalance Pricing Guide (6 decks)

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