CHAPTER 19 IMBALANCE AND BALANCING ENERGY SETTLEMENT

SECTION VI BALANCING MARKET SETTLEMENT

CHAPTER 19 IMBALANCE AND BALANCING ENERGY SETTLEMENT

Article 19.1 Calculation of Balancing Energy and Imbalances
1. The activated energy for each Imbalance Settlement Period t shall be calculated separately for mFRR, aFRR and for purposes other than balancing. An upward activated energy shall be always calculated with a positive value, while the downward activated energy shall be always calculated with a negative value.
2. The activated Balancing Energy for mFRR is determined as follows:
  a) The upward activated Balancing Energy mFRR, $(A B E_{e, t}^{α F R R, u p})$ , of a Balancing Service Entity e for an Imbalance Settlement Period t is (a) for Dispatchable Generating Units and Dispatchable RES Units Portfolios, the additional energy corresponding to the Adjusted Dispatch Instruction for mFRR and (b) for Dispatchable Load Portfolios, the reduction in energy absorption corresponding to the Adjusted Dispatch Instruction for mFRR, in accordance with the provisions of paragraph 5 of this article, and
  b) The downward activated Balancing Energy mFRR, $(A B E_{e, t}^{α F R R, d n})$ , of an Balancing Service Entity e for a Balancing Settlement Period t is (a) with respect to the Dispatchable Generation Units and the Dispatchable RES Units Portfolios, the reduction of the energy corresponding to the Adjusted Dispatch Instruction for mFRR and (b) with respect to Dispatchable Load Portfolios, the increase in energy absorption corresponding to the Adjusted Dispatch Instruction for mFRR, as defined in paragraph 5 of this Article.
3. The activated Energy supplied for purposes other than balancing is defined as follows:
  a) The upward activated energy for purposes other than balancing, $(A O E_{e, t}^{m F R R, u p})$ of a Balancing Service Entity e for an Imbalance Settlement Period t (is (a) for Dispatchable Generating Units and Dispatchable RES Units Portfolios, the additional energy corresponding to the Adjusted Dispatch Instruction for purposes other than balancing, and (b) for Dispatchable Load Portfolios, the reduction in energy absorption corresponding to the Adjusted Dispatch Instruction for purposes other than balancing, in accordance with the provisions of paragraph 5 of this Article, and
  b) The downward activated energy for purposes other than balancing, $(A O E_{e, t}^{m F R R, d n})$ of a Balancing Service Entity e for an Imbalance Settlement Period t is (a) for Dispatchable Generating Units and Dispatchable RES Units Portfolios, the reduction in energy corresponding to the Adjusted Dispatch Instruction for purposes other than balancing, and (b) for Dispatchable Load Portfolios, the additional energy absorption corresponding to the Adjusted Dispatch Instruction for purposes other than balancing, in accordance with the provisions of paragraph 5 of this Article.
4. The Adjusted Dispatch Instruction and the activated energy shall be calculated according to the ‘Activated Balancing Energy Calculation Methodology’, which takes into account at least the actual availability of the Balancing Service Entities.
5. The mFRR Instructed Energy of a Balancing Services Entity e for a Balancing Settlement Period t, $I N S T_{e, t}^{m F R R}$ , shall be calculated as follows:
  a) For Dispatchable Generation Units and for Dispatchable Intermittent RES Units Portfolios:
     $I N S T_{e, t}^{m F R R} = M S_{e, t} + A B E_{e, t}^{m F R R, u p} + A B E_{e, t}^{m F R R, d n} + A O E_{e, t}^{m F R R, u p} + A O E_{e, t}^{m F R R, d n}$
  b) For Dispatchable Intermittent RES Units Portfolios:
     $I N S T_{e, t}^{m F R R} = B L_{e, t} + A B E_{e, t}^{m F R R, u p} + A B E_{e, t}^{m F R R, d n} + A O E_{e, t}^{m F R R, u p} + A O E_{e, t}^{m F R R, d n}$
  c) For Dispatchable Load Portfolios (with the exception of Dispatchable Load Portfolios with pumped storage capability):
     $I N S T_{e, t}^{m F R R} = B L_{e, t} + M S_{e, t} - A B E_{e, t}^{m F R R, u p} - A B E_{e, t}^{m F R R, d n} - A O E_{e, t}^{m F R R, u p} - A O E_{e, t}^{m F R R, d n}$
  d) For Dispatchable Load Portfolios with pumped storage capability:
     $I N S T_{e, t}^{m F R R} = M S_{e, t} - A B E_{e, t}^{m F R R, u p} - A B E_{e, t}^{m F R R, d n} - A O E_{e, t}^{m F R R, u p} - A O E_{e, t}^{m F R R, d n}$
  where:
  $M S_{e, t}$ the Market Schedule of the Balancing Services Entity e for the Balancing Settlement Period t, where a) for Dispatchable Generation Units and Dispatchable RES Units Portfolios is always positive (+) and refers to the generation level of the Entity,b) for Dispatchable Load Portfolios (with the exception of Dispatchable Load Portfolios with pumped storage capability) it refers to the differential quantities absorbed with respect to the corresponding Reference Load, which is negative (-) when it comes to reduced absorption or positive when it concerns increased absorption from the Portfolio, and (c) for Dispatchable Load Portfolios with pumped storage capability it is always positive (+) and refers to the absorption level of the Portfolio.
  $A B E_{e, t}^{m F R R, u p}$ the upward activated Balancing Energy mFRR awarded to a Balancing Services Entity e for an Imbalance Settlement Period t.
  $A B E_{e, t}^{m F R R, d n}$ the downward activated Balancing Energy mFRR awarded to a Balancing Services Entity e for an Imbalance Settlement Period t.
  $A O E_{e, t}^{m F R R, u p}$ the upward activated energy mFRR for purposes other than balancing awarded to a Balancing Services Entity e for an Imbalance Settlement Period t.
  $A O E_{e, t}^{m F R R, d n}$ the downward activated energy mFRR for purposes other than balancing awarded to a Balancing Services Entity e for an Imbalance Settlement Period t.
  $B L_{e, t}$ the Balancing Services Entity's Reference Load e for the Balancing Settlement Period t, as calculated by the HETS Operator and corresponding to a) the electricity that would be generated by the Dispatchable RES Units Portfolio in the event of non-activation of the respective Balancing Energy Offers and b) the electricity that would have been absorbed from the Dispatchable Load Portfolio in the event of non-activation of the respective Balancing Energy Offers. Details and the rules for calculating the Baseline are provided in the "Baseline Calculation Methodology".
  For calculation of the Instructed Energy mFRR, a tolerance limit may be set per category of Balancing Service Entity by decision of the RAEWW, subsequent to a proposal from the HETS Operator.
6. In the event that a Balancing Services Entity, e, operates under AGC, then the activated Balancing Energy for aFRR, $A B E_{e, i}^{a F R R}$ shall be calculated over a period of a minute i, as follows:
  a) For Dispatchable Generating Units or Dispatchable Non-Intermittent RES Units Portfolios, the activated aFRR Balancing Energy $A B E_{e, i}^{a F R R}$ shall be equal to the integral of the difference between the measurements of the Supervisory Control and Data Acquisition System (SCADA) and the Instructed Energy, $I N S T_{e, i}^{m F R R}$ of the Entity e within minute i.
  b) For Dispatchable Intermittent RES Units Portfolios, the activated aFRR Balancing Energy, $A B E_{e, i}^{a F R R}$ shall be equal to the integral of the difference between the measurements of the Supervisory Control and Data Acquisition System (SCADA) and the Reference Load, $B L_{e, i}$ of the Entity e within minute i.
  c) For Dispatchable Load Portfolios, the activated aFRR Balancing Energy is $A B E_{e, i}^{a F R R}$ equal to the integral of the difference between, on the one hand, the measurements of the Supervisory Control and Data Acquisition System (SCADA) and, on the other, the sum of the Reference Load and Market Schedule, $B L_{e, i} + M S_{e, i}$ of the Entity e within minute i.
  On the basis of the above calculations, when the activated aFRR Balancing Energy in minute i is positive, $A B E_{e, i}^{a F R R, u p}$ , it is considered to be upward, and when it is negative, it is considered to be downward, $A B E_{e, i}^{a F R R, d n}$ .
7. In the event that a Balancing Service Entity e operates under AGC during an Imbalance Settlement Period t, then the Instructed Energy, $I N S T_{e, t}$ is calculated as follows:
  a) For Dispatchable Generation Units or a Dispatchable non-Intermittent RES Units Portfolio:
  $I N S T_{e, t} = I N S T_{e, t}^{m F R R} + \sum_{i = 1}^{15} A B E_{e, i}^{a F R R, u p} + \sum_{i = 1}^{15} A B E_{e, i}^{a F R R, d n}$
  b) For a Dispatchable Intermittent RES Units Portfolio:
  $I N S T_{e, t} = B L_{e, t}^{} + \sum_{i = 1}^{15} A B E_{e, i}^{a F R R, u p} + \sum_{i = 1}^{15} A B E_{e, i}^{a F R R, d n}$
  c) For Dispatchable Load Portfolios (with the exception of Dispatchable Load Portfolios with pumped storage capability):
  $I N S T_{e, t} = B L_{e, t}^{} - \sum_{i = 1}^{15} A B E_{e, i}^{a F R R, u p} - \sum_{i = 1}^{15} A B E_{e, i}^{a F R R, d n}$
  d) For Dispatchable Load Portfolios with pumped storage capability:
  $I N S T_{e, t} = I N S T_{e, t}^{m F R R} - \sum_{i = 1}^{15} A B E_{e, i}^{a F R R, u p} - \sum_{i = 1}^{15} A B E_{e, i}^{a F R R, d n}$
  In the event that a Balancing Service Entity e operates under AGC during an Imbalance Settlement Period t, then the Instructed Energy $I N S T_{e, t}$ is equal to the Instructed mFRR Energy $I N S T_{e, t}^{m F R R}$ .
8. In the event that the operation of a Balancing Services Entity, e, under AGC is suspended at the responsibility of the Entity for more than 5 minutes during a Balancing Settlement Period, t, then for that Balancing Settlement Period: (a) the entity shall not supply Balancing Energy, (b) The difference between the energy injected or absorbed and the Market Schedule or Reference Load is deemed to be an Imbalance, and (c) the entity shall not be remunerated for aFRR Balancing Energy.
9. The Imbalance of a Balance Responsible Entity providing Balancing Services, e, for an Imbalances Settlement Period t is equal to the difference between the quantity of energy that results on the basis of the Entity's certified measurement data $M Q_{e, t}$ and the Entity’s Market Schedule, $M S_{e, t}$ or the Reference Load, $B L_{e, t}$ , as given below:
  a) for Dispatchable Generating Units or Dispatchable RES Units Portfolio:
     $I M B_{e, t} = M Q_{e, t} - M S_{e, t}$
  b) for Dispatchable Load Portfolios (with the exception of Dispatchable Load Portfolios with pumped storage capability):
     $I M B_{e, t} = B L_{e, t} - M Q_{e, t}$
  c) for Dispatchable Load Portfolios with pumped storage capability:
     $I M B_{e, t} = M S_{e, t} - M Q_{e, t}$
  In the above functions, a positive sign corresponds to the injection of more energy or absorption of less energy by the Balance Responsible Entity, while a negative sign corresponds to the injection of less energy or absorption of more energy in relation to its Market Schedule.
10. The Imbalances adjustment of a Balancing Service Entity e that provides Balancing Energy for mFRR or energy for purposes other than balancing for an Imbalance Settlement Period t is given in the following functions:
  a) for Dispatchable Generation Units or a Dispatchable Non-Intermittent RES Units Portfolio:
     $I M B A D J_{e, t} = M S_{e, t} - I N S T_{e, t}$
  b) For Dispatchable Intermittent RES Units Portfolio:
     $I M B A D J_{e, t} = B L_{e, t} - I N S T_{e, t}$
  c) for Dispatchable Load Portfolios (with the exception of Dispatchable Load Portfolios with pumped storage capability):
     $I M B A D J_{e, t} = I N S T_{e, t} - B L_{e, t}$
  d) for Dispatchable Load Portfolios with pumped storage capability:
     $I M B A D J_{e, t} = I N S T_{e, t} - M S_{e, t}$
11. The Final Imbalance of a Balancing Services Entity e for a Balancing Settlement Period t is equal to the sum of the Imbalance and the Balancing Adjustment, as given below:
  $F I M B_{e, t} = I M B_{e, t} + I M B A D J_{e, t}$
12. The Final Imbalance of a Balance Responsible Entity e that is not providing Balancing Services shall be equal to the Imbalance as calculated on the basis of paragraph 9 of this Article. In particular:
  a) For non-Dispatchable RES Units Portfolio, RES Units Portfolio without Market Participation Obligation and Electricity Exports from the Interconnections, the Final Imbalance shall be equal to
  $F I M B_{e, t} = M Q_{e, t} - M S_{e, t}$
  b) For Load Portfolios and Electricity Exports from the Interconnections, the Final Imbalance shall be equal to
  $F I M B_{e, t} = M S_{e, t} - M Q_{e, t}$
  The Final Positive Imbalance (a) for Dispatchable Generating Units and Dispatchable RES Units Portfolios shall correspond to higher metered energy injection compared to the respective Adjusted Dispatch Instruction, and (b) for Dispatchable Load Portfolios and Dispatchable Load Portfolios with pumped storage capability to a lower metered energy absorption compared to the corresponding Adjusted Dispatch Instruction.
  The Final Positive Imbalance (a) for Non-Dispatchable RES Units Portfolio and RES Units Portfolios without Market Participation Obligation shall correspond to higher metered energy injection compared to the respective Market Schedule, and (b) for Load Portfolios shall correspond to lower metered energy absorption compared to the respective Market Schedule.
  The Final Negative Imbalance (a) for Dispatchable Generating Units and Dispatchable RES Units Portfolios shall correspond to lower metered energy injection in real time compared to the respective Adjusted Dispatch Instruction, and (b) for Dispatchable Load Portfolios and Dispatchable Load Portfolios with pumped storage capability to a higher metered energy absorption in real time compared to the corresponding Adjusted Dispatch Instruction.
  The Final Negative Imbalance (a) for Non-Dispatchable RES Units Portfolio and RES Units Portfolios without Market Participation Obligation shall correspond to lower metered energy injection compared to the respective Market Schedule, and (b) for Load Portfolios shall correspond to higher metered energy consumption compared to the respective Market Schedule.
13. For the Imbalance Settlement Periods for which the entities are under Commissioning Operation or under Operation tests or under Prequalification Tests, the activated Balancing Energy and the Imbalances Adjustment will be equal to zero. The Final Imbalance of the above Balancing Service Entities is equal to the Imbalance as calculated in accordance with paragraph 9 of this Article.

Article 19.2 Manual FRR and Automatic FRR Clearing Prices

The clearing prices of mFRR and aFRR are calculated in €/MWh.
If there is no congestion between Bidding Zones, the upward Balancing Energy Price for mFRR, $B E P_{z, t}^{u p}$ , for each Imbalance Settlement Period, t, for the activation of upward mFRR Balancing Energy shall be equal to the maximum Balancing Energy Offer prices for the mFRR steps that were activated to cover the HETS Imbalances. In the event there is congestion between the Bidding Zones, the clearing price for upward mFRR for each Imbalance Settlement Period, t, for activation of upward Balancing Energy for each Bidding Zone is equal to the maximum prices of the mFRR Balancing Energy Offer steps that were activated to cover the imbalance in the specific Bidding Zone, z.
If there is no congestion between Bidding Zones, the downward mFRR clearing price (in EUR/MWh), $B E P_{z, t}^{d n}$ , for each Imbalance Settlement Period, t, for the activation of downward mFRR Balancing Energy is equal to the minimum Balancing Energy Offer prices for the mFRR steps that were activated to cover the HETS Imbalances. If there is congestion between the Bidding Zones, the clearing price for downward mFRR for each Imbalance Settlement Period, t, for activation of downward Balancing Energy for each Bidding Zone is equal to the minimum prices of the mFRR Balancing Energy Offer steps that were activated to cover the imbalance of the specific Bidding Zone, z.
The upward and downward Balancing Energy Offers for mFRR activated for purposes other than balancing shall be marked and excluded from the calculation of upward and downward clearing prices for mFRR. The activation purposes which fall into the category of “purposes other than balancing” shall be defined in the methodology for classifying the activation purposes of Balancing Energy Offers in accordance with Article 29(3) of
Regulation (EU) 2017/2195.
The upward and downward Balancing Energy Offers for mFRR for the Balancing Service Entities and for the Imbalance Settlement Periods which are set out in the ‘Calculation Methodology for Unfeasible Market Schedule’ shall be marked and excluded from the calculation of upward and downward mFRR clearing prices.
Upward and downward mFRR Balancing Energy Offers for the Balancing Service Entities and for Imbalance Settlement Periods that are activated for Test Dispatch Instruction purposes shall be marked and excluded from the calculation of upward and downward mFRR clearing prices.
If the calculation of the mFRR and aFRR clearing prices is impossible, in particular due to an Emergency Situation, or failure of the Balancing Market System or of the other electronic systems of the HETS Operator, the HETS Operator shall apply the procedure provided for in the ‘Rules for settlement in case of suspension of market activities’.

The aFRR Clearance Price shall be derived per Balancing Services Entity, for each minute i of the Balance Settlement Period t, according to the direction of the Balancing Action activated, as follows:

a) To activate upward aFRR Balancing Energy:

$S P_{e, i}^{a F R R, u p} = m a x (S P_{W A E, i}^{a F R R, u p}, O P B E_{e, s, i}^{a F R R, u p})$

Where:

$S P_{W A E, i}^{a F R R, u p}$	The weighted clearing price of upward aFRR in €/ MWh for minute i, in accordance with paragraph 9 of this Article.
$O P B E_{e, s, i}^{a F R R, u p}$	The price of step s of the Balancing Energy Offer for upward aFRR of the Balancing Services Entity corresponding to the activated upward aFRR energy calculated for minute i, in accordance with the ‘Activated Energy Calculation Methodology’.

b) To activate downward aFRR Balancing Energy:

$S P_{e, i}^{a F R R, d n} = m i n (S P_{W A E, i}^{a F R R, d n}, O P B E_{e, s, i}^{a F R R, d n})$

Where:

$S P_{W A E, i}^{a F R R, d n}$	The weighted clearing price for downward aFRR in €/MWh for minute i, in accordance with paragraph 10 of this Article.
$O P B E_{e, s, i}^{a F R R, d n}$	The price of step s of the Balancing Energy Offer for downward aFRR of the Balancing Services Entity corresponding to the activated upward aFRR energy calculated for minute i, in accordance with the ‘Activated Energy Calculation Methodology’.

The weighted clearing price for upward aFRR shall be calculated for each minute i of the Balance Settlement Period t as follows:

$S P_{e, i}^{a F R R, u p} = \frac{\sum_{c \in i} (R E_{c}^{a F R R, u p} \times M P_{c}^{a F R R, u p})}{\sum_{c \in i} (R E_{c}^{a F R R, u p})}$

Where:

$c$	The AGC cycle.
$M P_{c}^{a F R R, u p}$	The weighted clearing price of upward aFRR in €/ MWh for AGC cycle c, in accordance with paragraph 11 of this Article.
$R E_{c}^{a F R R, u p}$	The required activation of upward aFRR Balancing Energy served locally in MWh for each AGC cycle c during minute i, with a positive value.

The weighted settlement price for downward aFRR shall be calculated for each minute i of the Balance Settlement Period t as follows:

$S P_{e, i}^{a F R R, d n} = \frac{\sum_{c \in i} (R E_{c}^{a F R R, d n} \times M P_{c}^{a F R R, d n})}{\sum_{c \in i} (R E_{c}^{a F R R, d n})}$

Where:

$c$	The AGC cycle.
$M P_{c}^{a F R R, d n}$	The weighted clearing price for downward aFRR in an AGC cycle (in €/MWh) for AGC cycle c, in accordance with paragraph 11 of this Article.
$R E_{c}^{a F R R, d n}$	The required activation of downward aFRR Balancing Energy served locally in MWh for each AGC cycle c during minute i, with a positive value.

For the periods of time that the HETS Operator remains connected to the European aFRR Platform, the upward and downward aFRR clearance price in an AGC cycle shall be the same as and equal to the Cross-Border aFRR Clearance Price sent by the European aFRR Platform. For periods of time when the HETS Operator remains disconnected from the European aFRR Platform, the upward aFRR clearing price of the AGC cycle corresponds to the highest price of all upward aFRR Balancing Energy Offers that were activated from the local aFRR merit order list, while the downward aFRR clearing price of the AGC cycle corresponds to the lowest price of all downward aFRR Balancing Energy Offers that were activated from the local aFRR merit order list.
If the calculation of the mFRR and aFRR clearing prices is impossible, in particular due to an Emergency Situation, or failure of the Balancing Market System or of the other electronic systems of the HETS Operator, the HETS Operator shall apply the procedure provided for in the ‘Rules for settlement in case of suspension of market activities’.

Article 19.3 Calculation of Balancing Energy debits and credits

The debits or credits to the Balancing Service Providers for each Balancing Service Entity they represent, per Imbalance Settlement Period, for activated Balancing Energy for mFRR following a relevant Dispatch Instruction shall be determined for each direction according to the following table:

	Positive Balancing Energy Price	Negative Balancing Energy Price
Upward Balancing Energy	Payment from Clearing House to Balancing Service Provider	Payment from Balancing Service Provider to Clearing House
Downward Balancing Energy	Payment from Balancing Service Provider to Clearing House	Payment from Clearing House to Balancing Service Provider

The charge or credit of the Balancing Services Providers for each Balancing Service Entity that they represent per each Imbalance Settlement Period, for the activated mFRR Balancing Energy, including the activated Balancing Energy for mFRR Test Dispatch Instructions, is calculated as follows:

a) For the activated upward mFRR Balancing Energy:

$A B E C_{e, t}^{m F R R, u p} = A B E_{e, t}^{m F R R, u p} \times B E P_{z, t}^{u p}$

Where:

$A Β E C_{e, t}^{m F R R, u p}$	The debit or credit in € for the activated upward Balancing Energy for mFRR for a Balancing Service Entity e and an Imbalance Settlement Period t.
$A B E_{e, t}^{m F R R, u p}$	The activated upward Balancing Energy for aFRR for a Balancing Service Entity e and an Imbalance Settlement Period t.
$B E P_{z, t}^{u p}$	The clearing price of an upward mFRR, of the Bidding Zone, z, in €/MWh to which the Balancing Services Entity e belongs.

b) For the activated downward mFRR Balancing Energy:

$A B E C_{e, t}^{m F R R, d n} = A B E_{e, t}^{m F R R, d n} \times B E P_{z, t}^{d n}$ .

Where:

$A Β E C_{e, t}^{m F R R, d n}$	The debit or credit in € for the activated upward Balancing Energy for mFRR for a Balancing Service Entity e and an Imbalance Settlement Period t.
$A B E_{e, t}^{m F R R, d n}$	The activated downward Balancing Energy for mFRR in MWh for a Balancing Service Entity e and an Imbalance Settlement Period t.
$B E P_{z, t}^{d n}$	The clearing price of a downward mFRR, of the Bidding Zone, z, in €/MWh to which the Balancing Services Entity e belongs.

The charge or credit of the Balancing Service Providers for the activated upward aFRR Balancing Energy, and for each Balancing Service Entity e that they represent, is calculated per Imbalance Settlement Period t as the sum of the respective charges or credits for each minute i within the Imbalance Settlement Period t. The above charges or credits shall be calculated as follows:

$A B E C_{e, t}^{α F R R, u p} = \sum_{i = 1}^{15} (A B E_{e, i}^{a F R R, u p} \times S P_{e, i}^{a F R R, u p})$

Where:

$A B E C_{e, t}^{α F R R, u p}$	the debit or credit for the activated upward aFRR Balancing Energy for a Balancing Service Entity e and an Imbalance Settlement Period t.
$A B E_{e, t}^{α F R R, u p}$	The upward activated aFRR Balancing Energy in MWh for the Balancing Services Entity e during one minute i within the Imbalance Settlement Period t.
$S P_{e, i}^{a F R R, u p}$	The upward aFRR clearing price for the Balancing Services Entity e during one minute i within the Imbalance Settlement Period t.

The charge or credit of the Balancing Service Providers for the activated downward aFRR Balancing Energy, and for each Balancing Service Entity e that they represent, is calculated per Imbalance Settlement Period t up to the sum of the corresponding charges or credits for each minute i within the Imbalance Settlement Period t. The above charges or credits shall be calculated as follows:

$A B E C_{e, t}^{α F R R, d n} = \sum_{i = 1}^{15} (A B E_{e, i}^{a F R R, d n} \times S P_{e, i}^{a F R R, d n})$

Where:

$A B E C_{e, t}^{α F R R, d n}$	the debit or credit for the activated upward aFRR Balancing Energy for a Balancing Service Entity e and an Imbalance Settlement Period t.
$A B E_{e, t}^{α F R R, d n}$	The downward activated aFRR Balancing Energy in MWh for the Balancing Services Entity e during one minute i within the Imbalance Settlement Period t.
$B E P_{z, t}^{d n}$	The downward aFRR clearing price for the Balancing Services Entity e during one minute i within the Imbalance Settlement Period t.

Details regarding the calculation of prices are described in the ‘Balancing Market Price Calculation Methodology’ and details regarding calculation of Balancing Energy debits and credits are described in the Technical Decision ‘Balancing Market Settlement’.

Article 19.4 Calculation of debits and credits for energy activated for purposes other than balancing

The debits or credits to the Balancing Service Providers for each Balancing Service Entity, e, they represent, per Imbalance Settlement Period, t, for energy activated for purposes other than balancing shall be calculated as follows:

a) as the sum of the products of all steps, which result from the multiplication of the quantity of upward balancing energy in each step by the Price of the Offer for upward Balancing Energy for mFRR for that step and for the corresponding Entity.

$A O E C_{e, t}^{m F R R, u p} = \sum_{s} (m F R R Q_{e, α s, t}^{u p} \times O P B E_{e, s, t}^{m F R R, u p})$

Where:

$A O E C_{e, t}^{m F R R, u p}$	The debit or credit for upward Balancing Energy activated for purposes other than balancing for a Balancing Service Entity e and an Imbalance Settlement Period t.
$m F R R Q_{e, α s, t}^{u p}$	the segment, as, of step, s, in MWh of the upward Balancing Energy Offer for mFRR that has been validated for a Balancing Service Entity, e, for an Imbalance Settlement Period, t.
$O P B E_{e, s, t}^{m F R R, u p}$	the price in €/MWh of step s of the upward Balancing Energy Offer of a Balancing Service Entity e for mFRR for an Imbalance Settlement Period t.

b) as the sum of the products of all steps, which result from the multiplication of the quantity of downward balancing energy in each step by the Price of the Offer for downward Balancing Energy for mFRR for that step and for the corresponding Entity.

$A O E C_{e, t}^{m F R R, d n} = \sum_{s} (m F R R Q_{e, α s, t}^{d n} \times O P B E_{e, s, t}^{m F R R, d n})$

Where:

$A O E C_{e, t}^{m F R R, d n}$	The debit or credit for downward Balancing Energy activated for purposes other than balancing for a Balancing Service Entity e and an Imbalance Settlement Period t.
$m F R R Q_{e, α s, t}^{d n}$	the segment, as, of step, s, in MWh of the downward Balancing Energy Offer for mFRR that has been validated for a Balancing Service Entity, e, for an Imbalance Settlement Period, t.
$O P B E_{e, s, t}^{m F R R, d n}$	the price in €/MWh of step s of the downward Balancing Energy Offer of a Balancing Service Entity e for mFRR for an Imbalance Settlement Period t.

Where the calculated amounts $A O E C_{e, t}^{m F R R, u p}$ of $A O E C_{e, t}^{m F R R, d n}$ activated energy for non-balancing purposes are negative, the Balancing Entity shall be required to pay the calculated amount, whereas when the amounts calculated are positive, the Balancing Entity shall be entitled to collect the calculated amount.

Article 19.5 Calculation of System Imbalance

The System Imbalance, $S I_{t}$ shall be calculated for each Imbalance Clearance Period t as follows:

$S I_{t} = Δ P_{t} + k Δ f_{t} - A E_{t}$

Όπου:

$Δ P_{t}$	The imbalance between intended exchanges of active capacity through the interconnection points and metered values, in MW. The intended exchanges of active capacity at the HETS interconnection points do not include voluntary exchanges of active capacity pursuant to Article 50 of Regulation (EU) 2017/2195.
$k Δ f_{t}$	The HETS frequency control error, in MW, for the Imbalance Clearance Period t, that is, the product of the frequency deviation from the nominal value by the factor k (in mW/Hz) as defined in Article 156 (2) of Regulation (EU) 2017/1485.
$A E_{t}$	The total activated energy in MW, corresponding to aFRR Dispatch Instructions for the Imbalance Settlement Period t, mFRR Dispatch Instructions, Test mFRR Dispatch Instructions, Dispatch Instructions for commitment, de-commitment or transition, and the Instructions for activation of mFRR Energy Offers for purposes other than balancing for a Balancing Settlement Period t.

In the above formula, export-related active capacity exchanges and upward activated energy are taken into account with a positive sign. By contrast, import-related active capacity exchanges and downward activated energy are taken into account with a negative sign.

Article 19.6 Calculation of the Imbalance Price

If the System Imbalance $S I_{t}$ , is less than -25MW or greater than +25MW, the Imbalance Price $I P_{t}^{}$ shall be calculated as follows:

$I P_{t} \{\begin{matrix} m a x \{M P_{W A E, t}^{α F R R}, B E P_{m F R R, t}^{u p}, V O A A_{t}^{u p}, V O A A_{t}^{d n}\} \\ m i n \{M P_{W A E, t}^{α F R R}, B E P_{m F R R, t}^{d n}, V O A A_{t}^{u p}, V O A A_{t}^{d n}\} \end{matrix} \begin{matrix} , ό τ α ν S I_{t} < 25 M W \\ , ό τ α ν S I_{t} > 25 M W \end{matrix}\}$

Όπου:

$M P_{W A E, t}^{α F R R}$	The weighted average price of the AGC cycle aFRR clearing prices in €/MWh for the Imbalance Settlement Period t in accordance with paragraphs 2, 3 and 4 of this Article.
$B E P_{z, t}^{u p}$	The upward mFRR clearing price in €/MWh for the Imbalance Settlement Period t.
$B E P_{z, t}^{d n}$	The downward mFRR clearing price in €/MWh for the Imbalance Settlement Period t.
$V O A A_{t}^{u p}$	The downward mFRR clearing price in €/MWh for the Imbalance Settlement Period t.
$V O A A_{t}^{d n}$	The value of avoided activation of Balancing Energy in the downward direction, which is equal to the higher value of the downward Balancing Energy Offer for either mFRR or aFRR for the specific Imbalance Clearance Period t.

For the Imbalance Settlement Periods during which the HETS Operator remains connected to the European Platform for Balancing Energy (aFRR), the weighted average price of the clearing prices for aFRR in the AGC cycle $M P_{W A E, t}^{α F R R}$ , for a Balancing Settlement Period t shall be calculated in accordance with the following:

$M P_{W A E, t}^{α F R R} = \frac{\sum_{c \in t} (a b s (S D_{c}^{α F R R}) \times M P_{c}^{α F R R})}{\sum_{c \in t} (a b s (S D_{c}^{α F R R}))}$

Όπου:

$c$	The AGC cycle.
$M P_{c}^{α F R R}$	The Cross-Border aFRR Settlement Price in €/MWh dispatched by the European aFRR Platform for each execution cycle of the aFRR Process preceding the AGC cycle c within the Imbalance Settlement Period t.
$S D_{c}^{α F R R}$	The demand for aFRR in MWh that has been met for each execution cycle of the aFRR Process preceding the AGC cycle c within the Imbalance Settlement Period t.

For the Imbalance Settlement Periods during which the HETS Operator remains disconnected from the European Platform for Balancing Energy (aFRR), the weighted average price of the clearing prices for aFRR in the AGC cycle $M P_{W A E, t}^{α F R R}$ , for a Balancing Settlement Period t shall be calculated in accordance with the following:

α) If the System Imbalance, $S I_{t}$ is less than -25MW:

$M P_{W A E, t}^{α F R R} = \frac{\sum_{c \in t} (S D_{c}^{α F R R, u p} \times M P_{c}^{α F R R, u p})}{\sum_{c \in t} S D_{c}^{α F R R, u p}}$

Όπου:

$c$	The AGC cycle.
$M P_{c}^{α F R R, u p}$	The upward aFRR clearing price of the AGC cycle in €/MWh, which corresponds to the maximum price of all upward aFRR Balancing Energy Offers activated from the local aFRR merit order list, for each AGC cycle c.
$S D_{c}^{α F R R, u p}$	The upward demand for aFRR in MWh met for each AGC cycle c, with a positive value.

β) If the System Imbalance $S I_{t}$ is greater than 25MW:

$M P_{W A E, t}^{α F R R} = \frac{\sum_{c \in t} (S D_{c}^{α F R R, d n} \times M P_{c}^{α F R R, d n})}{\sum_{c \in t} S D_{c}^{α F R R, d n}}$

Όπου:

$c$	The AGC cycle.
$M P_{c}^{α F R R, d n}$	The downward aFRR clearing price of the AGC cycle in €/MWh, which corresponds to the minimum price of all downward aFRR Balancing Energy Offers activated from the local aFRR merit order list, for each AGC cycle c.
$S D_{c}^{α F R R, d n}$	The downward demand for aFRR in MWh met for each AGC cycle c, with a positive value.

For cases where, during an Imbalance Settlement Period t, the HETS Operator remains connected to the European aFRR platform for part of the time and disconnected for the remainder of the period, then the weighted average of the aFRR settlement prices in the AGC cycle is used, derived from: a) paragraphs 2 and 3(a) for System Imbalances less than -25 MW, and b) paragraphs 2 and 3(b) for System Imbalances greater than 25 MW. The above values shall be weighted in relation to the respective time intervals.
In the case that the calculated System Imbalance 𝑆𝐼𝑡, falls within the range [-25 MW, +25 MW], the Imbalance Price is taken to be equal to the value of the avoided activation of Balancing Energy, and is calculated as the average price of the following:
α) the lowest price of the upward Balancing Energy Offer for either mFRR or aFRR, which is available for local activation, for the specific Imbalance Settlement Period; and
β) the highest price of the downward Balancing Energy Offer for either mFRR or aFRR, which is available for local activation, for the specific Imbalance Settlement Period.
Details regarding calculation of System Imbalance and Imbalance Pricing are described in the ‘Balancing Market Price Calculation Methodology’.
If the calculation of the Imbalance Prices is impossible, in particular due to an Emergency Situation, or failure of the Balancing Market System or of the other electronic systems of the HETS Operator, the HETS Operator shall apply the procedure provided for in the “Rules for settlement in case of suspension of market activities”.

Article 19.7 Calculation of Debits and Credits from the Imbalance Settlement
1. Imbalance Settlement is the procedure whereby the Balance Responsible Parties are debited or credited for the imbalances they cause. The Imbalance Settlement shall be initially performed per Balance Responsible Entity and then per Balance Responsible Party.
2. If the System Imbalance is non-zero, the Imbalance amount in € for an Imbalance Settlement Period t and a Balancing Service Entity or a Balance Responsible Entity e shall be calculated as the Final Imbalance, $F I M B_{e, t}$ , in MWh, calculated in accordance with Article 19.1, multiplied by the relative price in €/MWh as follows:
  $I M B C_{e, t} = F I M B_{e, t} \times I P_{t}^{}$
3. When the amount calculated for an Imbalance is found to be negative, the Balance Responsible Entity is required to pay that amount. When the amount calculated for an Imbalance is found to positive, the Balance Responsible Entity is entitled to collect that amount.
4. The Imbalance amount calculated for RES Units Portfolio without Market Participation Obligation shall be debited/ credited to DAPEEP.
5. By way of derogation from paragraph 2 of this Article, the amount of Imbalance in € for each Imbalance Settlement Period t shall be calculated as the product of the Imbalance, $F I M B_{e, t}$ in MWh, with the Day-Ahead Market clearing price in €/MWh for the respective Market Time Unit, in the following cases:
  a) For pre-registered entities subject to Prequalification Acceptance Tests in accordance with Chapter 3 of this Rulebook,
  b) For RES Units performing Operation Tests in the context of their connection to Transmission or Distribution System.
  The above derogation is valid for a maximum period of six (6) months from the date of placement of each entity under Operation Tests regime.

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Article 19.1 Calculation of Balancing Energy and Imbalances

Article 19.2 Manual FRR and Automatic FRR Clearing Prices

Article 19.3 Calculation of Balancing Energy debits and credits

Article 19.4 Calculation of debits and credits for energy activated for purposes other than balancing

Article 19.5 Calculation of System Imbalance

Article 19.6 Calculation of the Imbalance Price

Article 19.7 Calculation of Debits and Credits from the Imbalance Settlement

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