Imbalance settlement is a clearing of balance groups within which the amount of imbalances is determined and calculated by comparing the entire realisation of balance groups and their market plan. Besides the amount of imbalances, clearing also includes the financial values of imbalances.
The Market Operator prepares a market plan for each accounting interval (1 hour) according to recorded closed contracts. A market plan is a plan for the net position of an individual Balance Scheme Member on the organised market and is an outcome of all closed contracts concluded by a Balance Scheme Member and hierarchically inferior members of the Balance Scheme. In each accounting interval, the market plan of the Balance Scheme Member, who acts as a supplier on the market, is equal to its total consumption or generation of electricity. Balance Scheme Members who act as traders on the market and have no appurtenant delivery points have a market plan that equals 0 MWh in all accounting intervals.
Imbalance settlement is performed once a month in two consecutive months. For the first time, the imbalance settlement together with the financial settlement shall be carried out in the month following the accounting month for which the imbalance settlement (M + 1) is carried out. Balance Groups are able to comment on the first imbalance settlement, yet this does not delay the financial settlement. If necessary, in accordance with Article 104 of the Rules, a second-instance imbalance settlement is performed at the latest in the second month following the accounting month for which the imbalance settlement is carried out (M + 2). After the second imbalance settlement, a financial difference between the first and second imbalance settlements is calculated.
After the accounting year is completed, the annual recalculation of imbalance settlement is prepared. The annual recalculation is calculated due to the presence of delivery points that do not execute measurements in each quarter of an hour and for which consumption in the Balance Scheme is estimated on the basis of an analytical procedure during the year.
For the delivery points without registration meters or for those that have a registration interval longer than the accounting interval of 1 hour ("non-measured consumers"), the realised consumption or supply in an individual accounting interval shall be determined with an analytical procedure.
Within the analytical procedure, the calculation of non-measured consumers in an individual accounting interval is carried out using the data of the residual diagram of each distribution area’s consumption, which is divided among consumers on the basis of non-measured consumption quotients.
Differences that occur between actual (invoiced) quantities and quantities from the analytical procedure are calculated within annual recalculat.
Transition to 15-min ISP
The length of the accounting interval is 1 hour. This will change to 15 minutes on 1 January 2021.