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Settlement price of deviation

The imbalance settlement price is the price used to financially settle the differences between the planned and actual supply or consumption of electricity in the power system. This mechanism ensures that settlement entities (e.g., electricity producers and suppliers) are financially motivated to accurately plan and adhere to their commitments.

The imbalance settlement price is determined based on current market conditions and can vary for positive and negative deviations:

Positive deviation: Occurs when the supply of electricity is higher than planned or when consumption is lower than planned. The settlement price for a positive deviation is often lower because it represents a surplus of electricity in the grid.
Negative deviation: Occurs when the supply of electricity is lower than planned or when consumption is higher than planned. The settlement price for a negative deviation is usually higher because it represents a shortage of electricity in the grid.

The imbalance settlement price is a crucial tool for maintaining balance in the power system and ensuring the reliability and stability of electricity supplies.