BSC Operations Headline Reports
The report provides commentary on BSC market operation, identifying key events and reporting on important data that may impact BSC Parties. It is produced on a monthly basis and covers the data from the two previous months and is based on a combination of latest and best available data.
- GSP Group Correction Factors in North Scotland
- Regular article on Trading Charges in July
- Regular article on Balancing Mechanism Volumes in July
- Feature on Credit Assessment Price (CAP) to Increase to £75/Mwh
- Offer cashflow by Settlement Period in August
- Regular article on System Prices in August
GSP Group Correction Factors in North Scotland
The graph displays an adaptation of “Daily Average GSP Group Correction Factor (GGCF)” from the Trading Operations Report, with GGCFs by latest Settlement Runs (SF versus R1).
GGCF values usually range between 0.9 and 1.1, with values outside this potentially indicating metering issues. GGCF values have been low in North Scotland at the SF Settlement Run. Meter dialling issues at a Grid Supply Point (GSP) have affected the GGCFs in the North Scotland region. The issue occurred between 11 July and 8 August 2018. Corrections in the GGCFs are being seen at the R1 Settlement Run.
Credit Assessment Price (CAP) to Increase to £75/Mwh
Following industry consultation, the Credit Committee met on 7 September 2018 to discuss an increase in the CAP. They agree that the CAP would increase from £59/MWh to £75/MWh, effective from 28 September 2018.
The trigger level will remain at +/-£6/MWh. The Credit Assessment Price (CAP) is changed when forward prices, used to calculate a reference price, move outside a
specified trigger level. The reference price breached the upper trigger level of £65/MWh on 28 August 2018.
As a result, Parties may notice a change in their Credit Cover Percentage, and should review the amount of Credit Cover lodged. CAP is considered a proxy for out-turn System Prices.
Offer cashflow by Settlement Period in August
Offer Cashflow totalled £44.5m in August, with the highest Offer Cashflow by Settlement Period (SP) in 2018 seen in 10 Settlement Periods. Settlement Periods 1, 4-5, 7-11, and 47-48 all had higher total cashflows than the equivalent SPs in June and July 2018.
Graph 1 plots Offer cashflow by Settlement Period for August 2018, compared to the previous two months. Compared to June and July, August Offer Cashflow can be seen to be higher in overnight SPs, but lower in peak evening SPs when demand is typically higher.
Graph 2 breaks down the proportion of Offer Cashflow by Settlement Period and Fuel Type. 83% of Offer Cashflow is related to Gas BMUs. Gas Offer Cashflow as a proportion in each SP varies from 96% in Settlement Period 4, to 65% in Settlement Period 16.
For Gas Offers in August, the lowest average price was £72.04/MWh in SP 10, and the highest average price was £90.61/MWh in SP 41.
Full list of reports
The BSC Operations Headline Report is produced on a monthly basis for the BSC Panel meetings, and is circulated to the Imbalance Settlement Group (ISG) as well as being published on the ELEXON website.
Please note that the reporting months are the two prior to the current month, based on a combination of latest and best available data.