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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.
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.
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 ( 7 ) . 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.
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