National Balancing Point definition

National Balancing Point or “NBP” means the notional delivery point at which Natural Gas may be the subject of Trade Nominations (as defined in the Network Code) in accordance with the terms of the Network Code;
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National Balancing Point means delivery point on the national transmission system. As part of AggregateEU, the reference to National Balancing Points should be understood to include Virtual Trading Points.
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Examples of National Balancing Point in a sentence

  • The UK’s National Balancing Point is Europe’s busiest gas trading hub, but it might lose importance compared to the Title Transfer Facility in the Netherlands (Giblom and Shiryaevskaya 2016), which might affect gas and liquefied natural gas (LNG) prices in the EU.

  • Under this GSA, gas will be sold on a day-ahead daily nomination basis at a price linked to the National Balancing Point (NBP, the UK traded gas benchmark).

  • The UK NBP Month Ahead Natural Gas Price will be the price for natural gas delivered to the National Balancing Point (NBP) Virtual Trading Point, in equal amounts every calendar day of the nearest calendar month.

  • The UK NBP for the Month Ahead Natural Gas Price will be the price for natural gas delivered to the National Balancing Point (NBP) Virtual Trading Point, in equal amounts every calendar day of the nearest calendar monthContracts in the relevant Billing Period as determined by the primary gas price source or, if applicable, the fallback gas price source.

  • Gas Contract means a contract for the delivery of a firm volume of natural gas to the National Balancing Point Virtual Trading Point, in equal amounts, in each calendar day of the relevant Billing Period.