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TAR NC Implementation Document – Second Edition September 2017
How to calculate reserve prices for firm non-yearly standard
capacity products with seasonal factors
Reserve prices for non-yearly products may be calculated using seasonal factors
applied on top of the designated multiplier. The mathematical formula for non-year-
ly reserve prices with seasonal factors is similar to the previous formulas, including
the seasonal factor (sf), as set out below:
For quarterly, monthly and daily firm standard capacity products, the formulas for
calculating reserve prices are:
P
st
= (m
i
× sf
i
) × (p
y
/ 365) × d
where:
sf
i
is the seasonal factor corresponding to the given quarter, month or day
(
s
fQ
,
s
fM
or
s
fD
)
For leap years,
P
st
= (m
i
× sf
i
) × (p
y
/ 366) × d
.
For within-day firm standard capacity products, the formula for calculating reserve
prices is:
P
st
= (m
WD
× sf
WD
) × (p
y
/ 8760) × h
where:
sf
WD
is the seasonal factor corresponding to the period of the year in which the
within-day product is booked
For leap years,
P
st
= (m
WD
× sf
WD
) × (p
y
/ 8784) × h
.
For further details, please also see Annex K – example of calculating reserve prices
for non-yearly firm capacity products with seasonal factors.