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| Quarter | Series | NoOfResults |
|---|---|---|
| 2012 Q3 | <= -1.00 | 0 |
| 2012 Q3 | > -1.00 to -0.75 | 0 |
| 2012 Q3 | > -0.75 to -0.50 | 0 |
| 2012 Q3 | > -0.50 to -0.25 | 0 |
| 2012 Q3 | > -0.25 to 0.00 | 14 |
| 2012 Q3 | > 0.00 | 11 |
| 2012 Q4 | <= -1.00 | 0 |
| 2012 Q4 | > -1.00 to -0.75 | 0 |
| 2012 Q4 | > -0.75 to -0.50 | 2 |
| 2012 Q4 | > -0.50 to -0.25 | 0 |
| 2012 Q4 | > -0.25 to 0.00 | 8 |
| 2012 Q4 | > 0.00 | 14 |
| 2013 Q1 | <= -1.00 | 2 |
| 2013 Q1 | > -1.00 to -0.75 | 0 |
| 2013 Q1 | > -0.75 to -0.50 | 0 |
| 2013 Q1 | > -0.50 to -0.25 | 0 |
| 2013 Q1 | > -0.25 to 0.00 | 11 |
| 2013 Q1 | > 0.00 | 12 |
| 2013 Q2 | <= -1.00 | 1 |
| 2013 Q2 | > -1.00 to -0.75 | 0 |
| 2013 Q2 | > -0.75 to -0.50 | 0 |
| 2013 Q2 | > -0.50 to -0.25 | 1 |
| 2013 Q2 | > -0.25 to 0.00 | 11 |
| 2013 Q2 | > 0.00 | 13 |
| 2013 Q3 | <= -1.00 | 0 |
| 2013 Q3 | > -1.00 to -0.75 | 0 |
| 2013 Q3 | > -0.75 to -0.50 | 0 |
| 2013 Q3 | > -0.50 to -0.25 | 0 |
| 2013 Q3 | > -0.25 to 0.00 | 11 |
| 2013 Q3 | > 0.00 | 13 |
| 2013 Q4 | <= -1.00 | 0 |
| 2013 Q4 | > -1.00 to -0.75 | 0 |
| 2013 Q4 | > -0.75 to -0.50 | 0 |
| 2013 Q4 | > -0.50 to -0.25 | 0 |
| 2013 Q4 | > -0.25 to 0.00 | 11 |
| 2013 Q4 | > 0.00 | 13 |
| 2014 Q1 | <= -1.00 | 0 |
| 2014 Q1 | > -1.00 to -0.75 | 0 |
| 2014 Q1 | > -0.75 to -0.50 | 0 |
| 2014 Q1 | > -0.50 to -0.25 | 0 |
| 2014 Q1 | > -0.25 to 0.00 | 12 |
| 2014 Q1 | > 0.00 | 14 |
| 2014 Q2 | <= -1.00 | 1 |
| 2014 Q2 | > -1.00 to -0.75 | 0 |
| 2014 Q2 | > -0.75 to -0.50 | 0 |
| 2014 Q2 | > -0.50 to -0.25 | 0 |
| 2014 Q2 | > -0.25 to 0.00 | 10 |
| 2014 Q2 | > 0.00 | 13 |
| 2014 Q3 | <= -1.00 | 0 |
| 2014 Q3 | > -1.00 to -0.75 | 0 |
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This report provides an alternative presentation of the stress testing summary report. Rather than show the distribution of all respondents' scores, it shows the number or percentage of respondents falling into groups with similar scores.
The spot price risk disclosure regime, commonly referred to as the stress testing regime, is described in Subpart 5A of Part 13 of the Code. Disclosing participants are required to apply a standard set of tests that assess aspects of a firm's financial position in response to changes in spot prices. Spot price risk disclosure statements are to be submitted on a quarterly basis to a person appointed by the Authority. That person then provides an anonymised summary of the disclosure statements to the Authority and it is these summaries that underlie this report.
The Authority makes no judgement about the different levels of risk tolerance exhibited in the stress testing results. Adopting risky positions is a legitimate strategy and the Authority hopes that the stress test regime will help ensure that these sorts of positions are being taken by decision-makers fully conversant with the potential consequences. Decision-makers are accountable for the impacts of their decisions even in the event that they lead to financial distress during times of scarce supply.
Two scenario types are defined: energy shortages and capacity shortfalls. Financial stress is assessed following exposure to:
This report presents some of the information contained in the summary report in a somewhat different way. Rather than show the distribution of scores across all respondents, it shows the number of respondents broken out into bands of scores. It does this for all combinations of stress measures and scenarios.
A guide has been prepared to assist with interpreting the stress test results.
Additional information about the stress testing regime can be found here. This information includes the purpose of the regime, what the stress test scenarios represent, and a set of answers to frequently asked questions.
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