Summary
Due to an increase of the EEX settlement price of the GB Power Base Month Product (EEX GB Base Monthly Power Future – EEX Product Code: FUBM) above ECC’s accepted threshold of 10%, the GB price independent delivery risk parameter will be adjusted within the current month. As of 11 March 2026, the trading limit systems M7 and MATS will use an updated price independent delivery risk parameter for the EPEX GB spot market. The updated parameter will also be considered in the DCP limit calculation.
The new parameters applicable will be:
| Parameter | Current | New |
|---|---|---|
| GB Price Independent Delivery Risk Parameter in GBP for Continuous Trading in M7 (Sell only) | 74 | 101 |
| GB Price Independent Delivery Risk Parameter in GBP for Auction Trading in MATS (Sell only) | 105 | 143 |
| GB Price Independent Delivery Risk Parameter in GBP for DCP limit calculation (Sell only) | 105 | 143 |
The currently used GB Imbalance Cost Ratio is 1.4. All other trading limit configurations remain unchanged.
Adjustment Process
The new values for the price independent parameters applicable for all ELEXON sell trades and orders will be applicable in M7 and MATS for trading on 11 March 2026 at 16:00 CET for the first time.
Information
The GB Price Independent Delivery Risk Parameter is used as add-on applicable for sell orders and - trades to calculate the limit utilisation during the limit period in both trading systems MATS and M7 for the clearing product groups EPEX_ST_POWER_ELEX, EPEX_IT%_POWER_ELEX for auction- and EPEX_IT_POWER_ELEX for continuous trading. Details of the limit function and the maintenance process can be found in the Risk Management Service Manual on the ECC website. Details on the calculation of the parameters can also be found in ECC Circular 25/2023. The parameters applicable are also part of the ECC Risk Parameter File available on the ECC website. Clearing Members are reminded to check whether defined Emergency Member Stop Limits and deposited collaterals are set sufficiently to cover a possible margin increase. Clearing Members and DCPs are asked to check whether defined trading limits and deposited collaterals for relevant auctions (EPEX_AUCTION_GBP) and continuous trading (EPEX_CONTINUOUS_GBP) are set sufficiently to cover a possible increase in limit utilisati on.
CONTACT
European Commodity Clearing AG
T +49 341 24680-444
clearing@ecc.de