Under Schedule B of Special Condition AA of the electricity generation licence condition six obligated licensees are required to post bids and offers for each of the mandated products during two trading windows on every business day. A modification has been proposed to alleviate difficulties faced by these licensees in fulfilling their obligations on the afternoons of the preceding business day to 25 December and 01 January.
Ofgem have taken a policy position that an absence of market making products in these two afternoon windows would not be contrary to the intent of the Secure and Promote licence condition. To provide further clarity, we are proposing to modify the licence condition to remove the requirement to post bids and offers in the afternoon windows of the preceding business day to 25 December and 01 January.
This is a statutory consultation on these proposed changes to the licence condition.