This page shall provide you, our customers, with the latest information related to our preparation for and the impacts associated with Brexit. If you have any questions that aren't answered here, please get in touch with us at email@example.com
On 31 January 2020 the UK ceased to be a member of the European Union.
Under the terms of the Withdrawal Agreement, the UK continues to follow EU Rules and to be treated as if it were an EU Member State until 23:00 on 31 December 2020.
On 9 July 2020, the European Commission confirmed in a stakeholder notice that regardless of the outcome of the FTA negotiations;
"…although electricity and gas interconnectors can of course still be used, the United Kingdom will no longer participate in the Union’s dedicated platforms. Alternative fall-back solutions will be used instead to trade electricity on interconnectors with Great Britain.”
The most significant impact of this is that trade across IFA and IFA2 will move to explicit auctions across all timescales, hence capacity will no longer be traded via the EU’s Day Ahead Market Coupling process. This can be seen detailed in the below section.
Implications (Key Changes)
- Access Rules
The current IEM Access Rules shall be withdrawn at 23:59 on 30 December 2020, with the new non-IEM Access Rules coming into force from 00:00 on 31 December 2020. Please visit here to view these Access Rules.
- Day Ahead Product
Day Ahead implicit auctions will cease, to be replaced by an explicit day ahead auction, hosted on the JAO platform for both IFA and IFA2.DA Auction Window 09:40-10:00 CET
DA Nomination Window 12:05-14:00 CET
UIOSI - Unused LT capacity will be re-allocated in the Day Ahead explicit auction, and hence will be paid out at the clearing price of this auction.
Long Term Nomination GatesBoth IFA's and IFA2's Nomination Gates shall change as below;
LT Nomination Gate Opens 16:30 CET (D-2)
LT Nomination Gate Closes 09:00 CET (D-1)
NGIC's and RTE's preference had been to provide a market spread–based compensation, however this has not been possible for the initial phase of non-IEM operation. Consequently compensation will be as follows:
Initial Price Paid for LT capacity curtailed prior to the Day Ahead Firmness Deadline;
Day Ahead explicit auction price for LT capacity curtailed after the Day Ahead Firmness Deadline.
Day ahead explicit auctions will be invoiced monthly. Customers should ensure they maintain sufficient credit with JAO to secure against potentially 6-7 weeks of DA commitment (in addition to collateral held against other timescales).