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  • Over the Counter and Multi-Day Trades

  • When a Gas Deficit Warning (GDW) is declared, National Grid may seek and accept offers in relation to Market Transactions and Non-system Transactions with Users (as defined in the UNC).  
    The information below provides details regarding the processes that National Grid Gas has in place in its capacity as operator of the national gas transmission system to facilitate over-the-counter (OTC) and multi-day trading in the event of a GDW being issued. In line with the Uniform Network Code (UNC), National Grid may seek to enter into Non-System Transactions with Users (as defined in the UNC). 

    National Grid will only enter into Non-System Transactions:

    • When a GDW has been declared for the relevant Gas Day.
    • With gas shippers who are a party to the Uniform Network Code and are not an OCM subscriber
    • Up to a maximum duration of 7 days from the time the offer is made (i.e. offers made day ahead can only have a 6 day duration)
    • After consideration of the system balance and the offers available via the OCM and OTC.
    This may mean that actions are not taken immediately following an offer being made.  If offers are time constrained this should be made clear at the time the offer is made using the 'OTC Offer to sell under an NBP Trade (P160)', which is available below.
    Payments for any accepted OTC offers will be as per the original price and invoiced through an Ad-hoc Energy Balancing Invoice (EBI) in EBI invoice timescales.

    The terms applicable to any such Non System Transactions shall be in accordance with the Short Term Flat NBP Trading Terms and Conditions Ref. NBP 2015 (NBP 15), amended as follows:
    - Clause 6 of NBP 15 shall be deleted and replaced with the words “The amount payable by National Grid to the Seller in respect of NBP Trades shall be invoiced as Market Balancing Action Charges under the Uniform Network Code and in particular Section S of the Transportation Principal Document.”

    A summary of the process for the making and accepting of offers in relation to OTC/OCM Multi-day trades is available in the OTC Flowchart document attached below.  A more detailed shipper procedure is also attached – ‘Shipper Procedure for Over the Counter Trading’.
    Multi-day trade offers may also be made using the OCM by subscribers using the locational market. These may also be made up to a maximum duration of 7 days from the time the offer is made (i.e. offers made day ahead can only have a 6 day duration). The process for single day OCM offers is unaffected by a Gas Deficit Warning. 
    For information on System Prices see the document below entitled ‘Impacts on SAP, SMPB and SMPS of OTC or OCM Multi-day Trades’
    Multi Day trade weighting factors will be published below in the event of a Gas Deficit Warning being declared.
  • Document List

  • Impacts on SAP, SMPB and SMPS or OTC or OCM Multi-Day Trades v2_2
    11 KB

    OTC Offer to sell under an NBP Trade (P160) v1_2
    273 KB

    Proforma for Confirming an Accepted OTC Offer (NBP15) v1_2
    271 KB

    OTC Flowchart v3_2
    9 KB

    Shipper Procedure for Over the Counter Trading (OTC) v4_4
    160 KB

    Weighting DDMMYYYY
    27 KB

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      Title: Gas Deficit Warning Subscription Service
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      Gas Deficit Warning Subscription Service
      National Grid offers a free text and email subscription service for Gas Deficit Warnings.

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