Applicable price
Article 22
1. For the purpose of daily imbalance charge calculation as provided in Article 23 the applicable price shall be determined as follows: (a) marginal sell price where the daily imbalance quantity is positive (i.e. the network user’s inputs for that gas day exceed its off-takes for that gas day); or (b) marginal buy price where the daily imbalance quantity is negative (i.e. the network user’s off-takes for that gas day exceed its inputs for that gas day). 2. A marginal sell price and a marginal buy price shall be calculated for each gas day pursuant to the following: (a) a marginal sell price is the lower of: (i) the lowest price of any sales of title products in which the transmission system operator is involved in respect of the gas day; or (ii) the weighted average price of gas in respect of that gas day, minus a small adjustment. (b) a marginal buy price is the higher of: (i) the highest price of any purchases of title products in which the transmission system operator is involved in respect of the gas day; or (ii) the weighted average price of gas in respect of that gas day, plus a small adjustment. 3. For the purpose of determining the marginal sell price, the marginal buy price and the weighted average price, the related trades shall be made on trading platforms that are pre-identified by the transmission system operator and approved by the national regulatory authority. The weighted average price shall be the energy weighted average price of trades in title products carried out at the virtual trading point in respect of a gas day. 4. A default rule shall be defined in case paragraph 2(a) and (b) do not allow for the derivation of a marginal sell price and/or a marginal buy price. 5. Subject to the approval of the national regulatory authority, the price of locational products may be taken into account for the purpose of determining the marginal sell price, the marginal buy price and the weighted average price, where proposed by the transmission system operator with corresponding consideration of the extent of the transmission system operator’s use of locational products. 6. The small adjustment shall: (a) incentivise network users to balance their inputs and off-takes; (b) be designed and applied in a non-discriminatory manner in order to: (i) not deter market entry; (ii) not impede the development of competitive markets; (c) not have a detrimental impact on cross-border trade; (d) not result in network users’ excessive financial exposure to daily imbalance charges. 7. The value of the small adjustment may differ for determining the marginal buy price and the marginal sell price. The value of the small adjustment shall not exceed ten percent of the weighted average price unless the transmission system operator concerned can justify otherwise to the national regulatory authority and have it approved pursuant to Article 20.