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TAR NC Implementation Document – Second Edition September 2017
Reserve Prices for
Firm Capacity Products
ARTICLE 14 CALCULATION OF RESERVE PRICES
Responsibility: the level of calculated reserve prices is subject to consultation
per Article 28(1) by NRA; subject to decision by NRA
General
The TAR NC provides general formulas for reserve prices for non-yearly products
without seasonal factors. The formulas distinguish between within-day and non-
within-day products. Non-within-day products must have reserve prices based on
the number of days in the product, while within-day products must have reserve
prices based on the number of hours.
How to calculate reserve prices for firm non-yearly standard
capacity products without seasonal factors
For quarterly, monthly and daily firm standard capacity products, the formulas for
calculating reserve prices are:
P
st
= m
i
× (p
y
/ 365) × d
where:
i
represents the non-yearly product: quarterly, monthly or daily capacity product,
P
st
is price of a short-term product of a duration of ‘d’ days,
m
i
is the multiplier corresponding to the standard product (
m
Q
,
m
m
or
m
D
),
p
y
is price of yearly product,
d
is duration of short-term product in days,
For leap years,
P
st
= m
i
× (p
y
/ 366) × d
For within-day firm standard capacity products, the formula for calculating reserve
prices is:
P
st
= m
WD
× (p
y
/ 8760) × h
where:
P
st
is price of a short-term product of a duration of ‘h’ hours,
m
WD
is the multiplier corresponding to within-day products,
p
y
is price of yearly product,
h
is duration in remaining hours of the gas day
For leap years,
P
st
= m
WD
× (p
y
/ 8784) × h