Modification 18: Invoicing and Credit Rules

This proposal is being made to address Invoicing and Credit arrangements as a result of the implementation of EU Codes. It provides for the invoicing for new capacity products, (the charges for which are determined in accordance with the Licence) and the removal of the old ‘STC/VRF/BB’ invoice which is no longer required. Under the entry-exit model, Shippers will have a single imbalance position which is to be calculated across the whole of the Northern Ireland network. It has been agreed that Premier Transmission shall invoice for PS Code Charges (which include Imbalance Charges and Scheduling Charges) and manage the Northern Ireland Disbursement Account on behalf of all the Northern Ireland TSOs and Shippers. This Modification Proposal therefore clarifies these revised arrangements.

The Modification Proposal updates the credit arrangements to cover the new IP Capacity products, clarifying some process steps and in particular addressing the determination and placement of credit in relation to Short Term Capacity Products and, where necessary, credit for Traders (who do not hold any capacity). It also provides some amendments to the Credit Committee Terms of Reference to reflect the requirements arising from the introduction of Capacity Auctions.