Template:GTMA Master Agreement 2004 Deemed Imbalance Charges Definition

"Deemed Imbalance Charges” means, for a Settlement Period and a Party, the Energy Imbalance Charges (expressed in sterling) that would be imposed on, or payable to, the Party under the Balancing and Settlement Code if the Party is deemed to be responsible for only one Account Energy Imbalance Volume (whether positive or negative) equal to:

(a) what the Energy Contract Volume of the Party would have been in the relevant ECV Notification if it had been an Accurate ECV Notification,

minus:

(b) the Energy Contract Volume of the Party specified in the relevant ECV Notification (if any) made for that Settlement Period or, otherwise, zero;