Commission Regulation (EU) 2017/460Dangos y teitl llawn

CHAPTER VI U.K. CLEARING PRICE AND PAYABLE PRICE

Article 23 U.K. Calculation of clearing price at interconnection points

The clearing price for a given standard capacity product at an interconnection point shall be calculated in accordance with the following formula:

• P_cl = P_R,au + AP

Where:

• P_cl is the clearing price;

• P_R,au is the applicable reserve price for a standard capacity product which is published at the time when this product is auctioned;

• AP is the auction premium, if any.

Article 24 U.K. Calculation of payable price at interconnection points

The payable price for a given standard capacity product at an interconnection point shall be calculated in accordance with either of the following formulas:

(a)

where the floating payable price approach is applied:

P_flo = P_R,flo + AP

Where:

• P_flo is the floating payable price;

• P_R,flo is the reserve price for a standard capacity product applicable at the time when this product may be used;

• AP is the auction premium, if any.

(b)

where the fixed payable price approach is applied:

P_fix = (P_R,y × IND) + RP + AP

Where:

• P_fix is the fixed payable price;

• P_R,y is the applicable reserve price for a yearly standard capacity product which is published at the time when this product is auctioned;

• IND is the ratio between the chosen index at the time of use and the same index at the time the product was auctioned;

• RP is the risk premium reflecting the benefits of certainty regarding the level of transmission tariff, where such premium shall be no less than 0;

• AP is the auction premium, if any.

Article 25 U.K. Conditions for offering payable price approaches

1. Where and to the extent that the transmission system operator functions under a non-price cap regime, the conditions for offering payable price approaches shall be as follows:

(a) for cases where only existing capacity is offered:

(i)

the floating payable price approach shall be offered;

(ii)

the fixed payable price approach shall not be allowed.

(b) for incremental capacity and existing capacity offered in the same auction or same alternative allocation mechanism:

(i)

the floating payable price approach may be offered;

(ii)

the fixed payable price approach may be offered where one of the following conditions is met:

(1)

an alternative allocation mechanism set out in Article 30 of Regulation (EU) 2017/459 is used;

(2)

a project is included in the Union list of projects of common interest as set out in Article 3 of Regulation (EU) No 347/2013 of the European Parliament and of the Council(1) [F1 as it had effect in EU law immediately before IP completion day].

2. Where and to the extent that the transmission system operator functions under a price cap regime, the floating payable price approach or the fixed payable price approach, or both, may be offered.

Textual Amendments

F1 Words in Art. 25(1)(b)(ii)(2) inserted (31.12.2020) by The Gas (Security of Supply and Network Codes) (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/531), reg. 1(2), Sch. 5 para. 7 (as amended by S.I. 2020/1016, regs. 1(2), 4(5)); 2020 c. 1, Sch. 5 para. 1(1)

(1)

Regulation (EU) No 347/2013 of the European Parliament and of the Council of 17 April 2013 on guidelines for trans-European energy infrastructure and repealing Decision No 1364/2006/EC and amending Regulations (EC) No 713/2009, (EC) No 714/2009 and (EC) No 715/2009 (OJ L 115, 25.4.2013, p. 39).