Granularity of Trades
The most granular tradable period is a single half-hour block.
Requirements for Trading
In order to deliver these trading services, potential providers will either be contracted directly or agree to a Grid Trade Master Agreement (GTMA) and have an account with a UK-registered bank. A GTMA is a legally agreed trading mandate between ourselves and each counterparty. They must also have either sufficient credit rating or a letter of credit. There are several schedules within the Grid Trade Master Agreement (GTMA) each of which governs a different method of trading:
Schedule 7A of GTMA sets out the provisions for BM Unit Specific Transactions. The service enables NGESO to call upon a party to either increase or decrease their generation/demand at a specific volume for an agreed price and time. The transactions require the counterparty to submit and maintain agreed Physical Notifications throughout the transaction. This would then also be notified to the Energy Contract Volume Aggregation Agent to ensure that the party’s contractual position is correctly adjusted.
Schedule 8 - allows for a trade to be agreed over the Interconnectors at the day ahead stage subject to the outturn of the counterparty’s trading activity on European power exchanges. These are known as Power Exchange Linked Interconnector (PELI) BM Unit Transactions.
You can access trade information data via https://trades.nationalgrid.co.uk/. This website displays all upcoming electricity trades due to be delivered and no sooner than 90 minutes from the current time. The website pulls new trade data every ten minutes.