The association has updated the grid trade master agreement (GTMA) with a substantially revised operational schedule (including new notification and checking procedures) and a new power options annex for use with the GTMA.

Anthony Belchambers, chief executive of the FOA and a member of the association’s power trading committee, said: “Since its launch in early 2001, the GTMA has become the standard terms used by participants in the UK power markets, but it has commonly required additional