NBP terms | Practical Law

NBP terms | Practical Law

NBP terms

NBP terms

Practical Law UK Glossary w-002-1779 (Approx. 4 pages)

Glossary

NBP terms

As used for gas, the Short Term Flat NBP Trading Terms and Conditions 1997 (NBP 1997) or the Short Term Flat NBP Trading Terms and Conditions 2015 (NBP 2015), under which trades of gas are deemed to take place at the National Balancing Point (NBP). NBP 1997 were updated in 2015 (NBP 2015) to reflect the change in the start of the gas day from 06:00 am to 05:00 am as part of EU harmonisation, and to make changes to the termination provisions. The new terms are published by the Joint Office of Gas Transporters, see Joint Office of Gas Transporters: Short Term Flat NBP Trading Terms and Conditions 2015. For more information, see Practice note, Downstream gas industry: overview.