Speculative Imbalance Positions by Non-Physical Traders: Impacts on Electricity System Balancing in Great Britain

Joseph Cary, Thomas Morstyn · 2026 · arXiv

DOI: 10.48550/arXiv.2610.28075 · open-access PDF

Korean

영국 (GB)의 전기 시스템은 참가자가 거래되는 위치에 따라 의도적으로 다른 볼륨을 생산하거나 소비할 수 있도록 허용하고 있으며 2015년부터 단일 불균형 가격으로이 관행을 촉진해 왔습니다.특히 비물리적 인 거래자 (NPTs)는 종종 에너지를 생산하거나 소비할 의도없이 불균형에 대한 개방적 인 입장을 취합니다.그러나 새로운 정부 제안은 공급과 수요의 균형화 가능성과 비용에 대한 우려 때문에이 관행을 제한할 수 있습니다.이 기사는 GB e의 NPT에 의한 추측 불균형 위치 (SIP)에 대한 최초의 실험적 분석을 제시합니다.

Machine translation (Meta M2M100); the English original follows.

Abstract

The electricity system in Great Britain (GB) allows participants to deliberately produce or consume a different volume to their traded position and has incentivised this practice with a single imbalance price since 2015. In particular, non-physical traders (NPTs) often take an open position to imbalance without any intention to produce or consume power. However, new government proposals could restrict this practice due to concerns over supply-demand balancing feasibility and costs. This article presents the first empirical analysis of speculative imbalance positioning (SIP) by NPTs in the GB e

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