System Average Price definition

System Average Price or “SAP” has the meaning given in the Network Code; “System Marginal Buy Price” or “SMBP” has the meaning given in the Network Code; “System Marginal Sell Price” or “SMSP” has the meaning given in the Network Code;

System Average Price means the weighted average UK price of all trades for a Gas Day, as defined in the

System Average Price. (“SAP”) means the weighted average UK price of all trades for the relevant gas day on the open commodities market platform.

Examples of System Average Price in a sentence

• Where the magnitude of the Output Scheduling Quantity exceeds the Output Tolerance Quantity (but not otherwise), the User shall pay a Scheduling Charge determined as the Chargeable Output Scheduling Quantity multiplied by 1% of the System Average Price for the Gas Flow Day.

• For the avoidance of doubt, any amounts payable by National Grid NTS pursuant to paragraph 7.2.2, 7.2.4 or 7.2.6 shall not be included in the calculation of the System Marginal Buy Price, the System Marginal Sell Price or the System Average Price pursuant to Section F1.2 for the Day to which such amounts relate.

• The Reconciliation Clearing Value for a Day shall be established by multiplying the DM Reconciliation Quantity by the System Average Price for the relevant Day.

• Where for any Day no Balancing Transaction was effected (or none other than one excluded for the purposes of paragraph 1.2.1 pursuant to paragraph 1.2.3), the System Average Price for that Day shall be the arithmetic mean of the System Average Price determined under paragraph 1.2.1 (or under this paragraph) for each of the 7 preceding Days.

• For the purposes of paragraph 1.2.1(a), (b) and (c) Excluded Locational Actions will be excluded in determining the System Marginal Sell Price, System Marginal Buy Price and the System Average Price.

More Definitions of System Average Price

System Average Price. (SAP) means the price in pence/kWh calculated as the sum of all market transaction charges divided by the sum of the trade nomination quantities for all market transactions effected in respect of system balancing activity for each Day as more particularly set out in the UNC.

System Average Price has the meaning given to it in the Uniform Network Code;

System Average Price or “SAP” has the meaning given to such term in the Network Code;

System Average Price means the UK OCM System Average Price published by NGG in respect of the Day.

System Average Price means the average price of all transactions carried out in respect of a day;

System Average Price or “SAP” has the meaning given in the Network Code; “System Exit Point” has the meaning given in the Network Code;

System Average Price has the meaning given in the Network Code; “System Entry Point” has the meaning given in the Network Code; “System Marginal Buy Price” has the meaning given in the Network Code;