The Balancing and Settlement Code (BSC) is a legal document which defines the rules and governance for the balancing mechanism and imbalance settlement processes of electricity in Great Britain. The Balancing and Settlement Code Company (BSCCo) is administered by Elexon.
History of the BSC
NETA and BETTA were established to:
- Enable electricity to be traded bilaterally, and ahead of time, between willing buyers and sellers in an open and competitive wholesale market (outside the BSC)
- Ensure that total electricity generation and demand are balanced in real time, through a Balancing Mechanism operated by National Grid as the GB Transmission System Operator
- Establish any differences (‘imbalances’) between the amounts of electricity which are traded and the actual electricity which is generated/consumed, and ensure that these are paid for, through a post-event imbalance settlement process operated by Elexon
More about BETTA
Modification P108 proposed to authorise BSCCo to provide or procure assistance to the Gas and Electricity Markets Authority in connection with the development and implementation of the British Electricity Trading and Transmission Arrangements (BETTA).
- Modification P108 ’Enable the BSCCo (Elexon) to prepare for the implementation of British Electricity Trading and Transmission Arrangements (BETTA)’
Dummies Guide to the BSC
The Dummies Guide is a simple explanation of how the BSC works and what Elexon’s role is. It explains why the BSC exists, how those rules affect the wholesale electricity market, and why the rules are important.
It provides a detailed look at the Trading Arrangements for electricity which covers what you need to know. The rules that govern electricity trading are covered in the Balancing and Settlement Code (BSC).
BSC training services
There are regular training sessions for people involved in the electricity industry. These include an overview of the BSC and specific sessions of key parts of working in the electricity industry. These training sessions are an invaluable way of understanding how the BSC works.
BSC Guidance Notes
BSC Guidance Notes are a collection of information documents that explain various parts of the BSC and operational processes associated to being part of the electricity market.
Glossary of terms
We have created a glossary for terms that are regularly used throughout the BSC and the associated processes. Most of our web page also have an option that enable you to switch of pop-up boxes that relate to these glossary terms as a short description of what each term means. However, you will also be able to click through to the full list of terms.