Single price model
What: The single price model includes a number of changes in the imbalance settlement scheme, including single imbalance price, single balancing responsible party (BRP) position, updated calculation of the imbalance price and calculation of a portfolio based on trade schedules. The most notable change is that BRPs will face the same imbalance price regardless of the direction of their imbalance relative to the total imbalance of the system.
How: The technical implementation of the single price model is mainly done in the common Nordic imbalance settlement, eSett. In addition, national terms and conditions are updated and a new imbalance fee will be implemented.
Why: Although the new model is requested by the European proposal for imbalance settlement harmonisation, it also means a simpler imbalance settlement process, particularly for the stakeholders.
- Single Price Single Position, publication of common Nordic market design document – feedback welcomed October 9, 2020
- FAQ Single Price model September 30, 2020
- Single price Single position go-live date 1 November 2021 August 21, 2020
- Risk of delay of up to six months for implementation of Single Price Single Position June 22, 2020
- Paper on the use of production plans – related to single price – single position March 26, 2020
- Telco invitation to all interested stakeholders on single pricing – single position February 20, 2020
- Single pricing of all imbalances from Q2/2021 January 29, 2020
- Single balance – single imbalance price model is proposed to be introduced in Q2/2021 (October 2 2019) October 2, 2019