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

1. (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.

2. (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.