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.

Latest report

Headline-Report-May-and-June-2019

Content list

  • Net imbalance volume at second lowest level since November 2015 
  • Credit Committee agree new credit assessment price value of £43/MWh, effective from 16 July 2019
  • Wind bid volumes fluctuate in June 2019

  • System Prices in June 2019
  • Balancing Mechanism Volumes in May

Feature articles

Credit Committee agree new credit assessment price (CAP) value 

A review of the Credit Assessment Price (CAP) was triggered on 10 June, as the calculated reference price was more than £6/MWh (the trigger level) below the current CAP of £48/MWh. A consultation was issued on 11 June, recommending a new CAP of £41/MWh.

As not all respondents and Credit Committee members were in agreement with the recommended new CAP value, the Credit Committee met on the 24 June. After considering the latest forward prices used in the reference price calculation, the Credit Committee agreed to decrease the CAP to £43/MWh, effective 16 July 2019. They also agreed a new CAP review trigger level of +/-£5/MWh.

Net imbalance volume at at second lowest level since November 2015 

The Net Imbalance Volume (NIV) is the volume of the overall System energy imbalance, as a net of all System and energy balancing actions. The total Net Imbalance Volume (NIV) during June 2019 was 15GWh. This is the second most balanced month for the GB System since the implementation of BSC Modification P305 on 5 November 2015.

In June, a large proportion of balancing actions were Balancing Service Adjustment Actions (BSAAs). BSAAs are actions, including non-BM Short Term Operating Reserve (STOR) actions, taken outside the Balancing Mechanism. These actions accounted for 28% of Buy volume and 46% of Sell volume. In contrast, this year prior to June, BSAAs contributed an average of 15% of Buy volume and 24% of Sell volume.

Wind bid volumes fluctuate in June 2019

Wind bid volumes fluctuated throughout June, with the maximum bid volume from Wind BMUs, 58GWh, occurring on 3 June 2019. From the 4 to 29 June, the total contribution of Wind bid volume was just 11GWh, with 58% of days having no Wind bids accepted.

The presence of Wind bids had a significant impact on the volume of Flagged actions in the System Price calculation. On average, 86% of Wind bid volume received an System Operator (SO) or Continuous Acceptance Duration Limit (CADL) Flag during June.

System prices in June 2019

Monthly average System Prices for June 2019 were lower when the market was both short (-2.5%) and long (-4.3%), compared to May 2019. The average System Price regardless of length was £41.55/MWh; 5.4% higher than last month.

System Prices exceeded £100/MWh 14 times this month, compared to 11 times in May. The highest System Price of the month, £375.00/MWh, occurred in Settlement Periods 23, 24 and 25 on 24 June 2019.

 

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.

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