Pricing
02 Apr 2024
Wendel Hortop

Triads 2023/2024: Final dates published

National Grid ESO published the final Triad dates for winter 2023/24 on 28th March 2024. This article provides all you need to know about this year's Triads.

What are Triads?

  • Triads are the name of the methodology through which annual Transmission Network Use of System (TNUoS) charges are allocated.
  • Triads are defined as the three half-hour settlement periods with the highest demand on the transmission system, between November and February (inclusive), which are at least 10 days apart from each other.
  • Grid users are charged on their average consumption across the three Triad periods based on a rate set out in advance.
  • This year is the first year following the introduction of the Targeted Charging Review reforms. This saw Triad rates for demand reduce significantly, with users seeing an increase in fixed transmission charges to compensate.

The final Triad dates

The confirmed final Triad dates and demands for 2023/24 are:

  • Tuesday 5th December 2023, 17:00 - 42,400 MW
  • Thursday 4th January 2024, 17:00 - 39,530 MW
  • Wednesday 17th January 2024, 17:30 - 43,984 MW
  • All three Triads fell between 5 and 5.30 pm, and in December and January, by far the most common periods for Triads to occur.
  • All three Triads differed from indicative dates based on operational metering provided by the ESO.
  • The ten-day rule played a key role in determining the third Triad. Meanwhile, two dates in February came within 80 MW of taking the final spot.

The Triad on January 4th, 2024 marks a new record-low demand for a Triad. This just beats out the lowest Triad of 2022/23 which had a demand of 39,573 MW.

Finally, average peak demand rebounded slightly, increasing by 0.8% to 36.9 GW. However, this increase was small and indicates that the removal of much of the Triad incentive has not had an effect on final peak demand.