BritNed ran a public consultation on the proposed amendments to our intraday product. The consultation lasted for 28 days, concluding on 15 September 2014. Two interested parties provided official feedback, with both focussing on the improvements to the timings affiliated with the product.
The two parties explicitly stated their support of BritNed’s reduction in the lead time between nomination gate closure and the start of the corresponding nomination interval, acknowledging that the move from four hours’ lead time to two hours will further enhance cross border trade and hence offer greater liquidity in the intraday market. As such, no changes will be made to the proposed specification of BritNed’s new intraday product, although this should be considered an interim measure as the market prepares for further changes to the European intraday market.
Further consideration was, however, given to the platform through which the timings should be published. Discussions between BritNed and ACM and Ofgem have highlighted that, whether published on the BritNed website or elsewhere, any changes to these timings would be subject to the same modification process as the rest of the Access Rules. In order to ensure that the BritNed Access Rules remain as transparent as possible, in line with the Interconnector License, it is proposed that the revised timings simply replace those currently listed in Schedule 4, Paragraph 5 the current Access Rules and retain their place within the Access Rules document.
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