Reliability Option Strike Price Calculation for March 2022

11 March 2022

Reliability Option Strike Price Calculation for March 2022

In accordance with the Market Operator obligation under the T&SC Section F.16.2 'Calculation of Strike Price', SEMO calculated the Strike Price (PSTRm) for March 2022 based on inputs available as of 25 Feb 2022.

A number of Participants then requested of the Regulatory Authorities that an exceptional recalculation of the March Strike Price be carried out by SEMO to reflect the subsequent rise in gas prices driven by the international situation. 

All Market Participants were invited to provide comments to SEMO on this proposal before 10 Mar 2022 at 12:00. These responses were then provided to the Regulatory Authorities.

Having considered these responses, and taking into account the downward movement in the gas price since the request by participants was made, the RAs have decided not to intervene in the calculation of the March Strike Price, but will continue to monitor the gas price, and bid prices in the market. The Strike Price will be updated, as standard, by SEMO for the month of April.