- Created by: ellieedf
- Created on: 23-04-20 14:28
Schedule 7A of the GTMA sets out the provisions for BM Unit Specific Transactions. The service enables NG to call upon a Generator to either increase or decrease their generation at a specific volume for an agreed price and time. The counterparty will submit and maintain an agreed PH throughout the transaction. This would then be notified to the ECVNA.
If the BMU does not comply with the PN profile as set out in the transaction then 'delivery failures' apply. This states that for the volume of power over or under-delivered, EDF Energy shall be liable to pay the respective volume multiplied by the contract and default price in addition to cashout prices.
SPV x (CP-DDP)
SPV = the settlement period volume
CP = the contract price
DDP = the BMU specific delivery default price
A Schedule 7A transaction will usually be initiated by NG with a phone call to the STT. There is no obligation to accept and the STT should be able to negotiate terms that are financially beneficial because NG are prepared to pay a premium to secure an agreed generation profile.
NG and the counterparty will agree:
- Which BM unit
- Buyers and Seller's details
- Transaction Duration
- Agreen PN
- PN Profile Type
- Contract Price
- Delivery Default Price
PN Profile Types
- "EQ". Equal Profile, the PN matches the Agreed PN. E.g. An agreed PN of 450MW means the BMU must delivery a PN of exactly 450MW.
- "GE". Greater than or equal profile, the PN either matches or is greater than the agreed PN. E.g. An agreed GE PN of 450MW means the BMU must deliver atleast 450MW but can go higher
- "LE". Less than or equal to profile, the PN matches or is less than the Agreed PN. E.g. An agreed PN of 450MW therefore the BMU must be at a maximum of 450MW but can be lower.
Schedule 7A transactions are usuaully for flat volume, which means EDF Energy take the price and volume risk of the ramps of the gareed PN.
The volume in red on the shoulders should be factored into EDF Energy's net open position, taking into account any risk adjustments.