About ELEXON
ELEXON compares how much electricity generators and suppliers say they will produce or consume with actual volumes. We work out a price for the difference and transfer funds. This involves taking 1.25 million meter readings every day and handling £1.5 billion of our customers’ funds each year.
The rules are set out in the Balancing and Settlement Code (BSC). We administer the Code and provide and procure the services needed to implement it. Our expertise and impartiality give our customers the confidence that the BSC operates efficiently and accurately.
ELEXON explained
ELEXON’s infographics explains why our customers rate us as the best code manager, providing key market infrastructure, facilitating competition and delivering settlement services, and how our end-to-end expertise drives efficiency and effectiveness for the benefit of industry and the consumer.
Key groups
Four key groups of people work together to make sure our governance, strategy, and operational delivery combine to deliver an outstanding service for our customers:
- The Board
- The BSC Panel
- ELEXON’s Executive
- ELEXON’s subject matter experts
Our Board
The ELEXON Board is responsible for:
- providing leadership to ELEXON
- setting the company’s strategic aims, including the approval of its annual Business strategy
- ensuring that the necessary financial and human resources are in place for the company to meet its objectives, including approving the company’s budget
- reviewing the performance of the company’s management
- the governance of the company
- ensuring that ELEXON’s obligations to its stakeholders, including BSC Parties, are understood and met.
The ELEXON Board is ultimately accountable to BSC Parties. That means that BSC Parties can vote to remove ELEXON’s directors. Directors can be removed at the Annual BSC Meeting, or a General Meeting of Voting Parties can be requested at any time. BSC Parties also have the right to request a vote, at an Annual BSC Meeting or a General Meeting, on non-binding resolutions which will be advisory in nature for the Board.
Requesting a General Meeting
In order to request a General Meeting or a vote at an Annual BSC Meeting you should complete the General Meeting Request Form and email it to ELEXON’s Company Secretariat at Companysecretary@elexon.co.uk or by post to The Company Secretary, ELEXON Limited, 4th Floor 350 Euston Road, London, NW1 3AW.
The General Meeting Request Form must be authenticated by the Authorised Signatory of the Voting Party or Voting Parties making the request. The request must also be made by Voting Parties holding at least 5% of the Actual Voting Share.
For more details on how to request a vote at an General Meeting or the Annual BSC Meeting, please refer to the Voting arrangements FAQs
Actual Voting Share
Annex C-2 of the BSC sets out the rules for determining what a BSC Party’s Actual Voting Share. For an explanation of the mechanism, please refer to the Voting arrangements FAQs.
You can see what the Actual Voting Share for your Trading Party Group or Distribution Business Group is in the Actual Voting Share Register.
This register is updated at least monthly.
How to Vote
Votes can only be exercised by an Authorised Person or by a duly appointed Proxy. Please refer to BSCP38 in order to appoint Authorised Persons who can:
- keep ELEXON informed of changes to Trading Party Groups and Distribution Business Groups
- request a vote at a General Meeting or an Annual BSC Meeting
- exercise a vote on behalf of a Voting Party at a General Meeting or an Annual BSC Meeting
- point a proxy to vote on a Voting Party’s behalf at a General Meeting or an Annual BSC Meeting.
More information
For more information on; how to request a vote at a General Meeting or the Annual BSC Meeting, how to vote at a General Meeting or the Annual BSC Meeting, or how to appoint a proxy to vote on your behalf and how votes will be decided, please refer to the Voting arrangements FAQs.
The six members of the Board have a strong mix of multi-disciplinary experience and a composition that follows corporate governance best practice.
Our Board meets monthly. Read the Board headline reports.
Click images to see full profiles.
Michael Gibbons
ELEXON Board and BSC Panel Chairman
Michael brings with him a wide range of industry experience, having spent 11 years at director level with Powergen.
Volker Beckers
Industry non-executive director
Volker is an industry non-executive director and former Group CEO of RWE Npower.
Alison Chappell
Industry non-executive director
Alison, a highly experienced manager brings substantial operational management and consulting experience. She has worked across a wide range of sectors, managing leading brands with multi-million pound budgets and providing consultancy advice to major companies.
Clare Duffy
Industry non-executive director
Clare brings extensive industry knowledge to the ELEXON Board in particular her experience working for an independent generator in the market.
David Rigney
Senior independent director
David is a qualified accountant with wide ranging experience across Finance, IT, Customer Service and Corporate Governance.
Anne Heal
Independent non-executive director
Anne is an experienced non-executive director on a wide range of boards for leading companies
Mark Bygraves
Chief Executive Officer
Mark Bygraves is the Chief Executive of ELEXON,
Other Board attendees
- Nick Brown – Company Secretary and Legal Advisor
- Executive Team
The BSC Panel
The Balance and Settlement Code (BSC) Panel oversees the management, implementation and development of the BSC. It brings together stakeholders from across the electricity industry, including Ofgem, National Grid, BSC Parties and consumer representatives, focused on ensuring that the BSC is delivered efficiently, economically, effectively, fairly and transparently.
The Panel oversees changes to the BSC and reviews the strategy element of ELEXON’s annual Business Plan. To support this process, the BSC Panel has identified its strategic priorities in a Panel Strategy and incorporated a Strategic Work Programme that addresses these priorities though 2015/16 and beyond. Both the Strategy and Work Programme feeds directly into the development of the annual BSCCo business plan and will inform the work of the Panel, its Committees and ELEXON going forward.
Find out more about the Panel’s functions and membership.
Panel committees
There are six committees made up of industry experts established by the Panel to oversee specific areas of BSC activity.
- Credit Committee (CC)
- Imbalance Settlement Group (ISG)
- Performance Assurance Board (PAB)
- Q8
- Supplier Volume Allocation Group (SVG)
- Trading Disputes Committee (TDC)
Our Executive
Our Executive Team is responsible for ELEXON’s day-to-day management. The team works with our Board, Panel and staff to ensure the successful delivery and evolution of the BSC.
Click on images for full profile.
Mark Bygraves
Chief Executive Officer
David Osborne
Director of Strategic Projects
David focuses on the delivery of major strategic projects.
Peter Stanley
Director of Design and Delivery
Peter's Design and Delivery team focuses on delivery of change and major projects within ELEXON.
Nigel Perdue
Director of BSC Operations
Nigel's Operations team is responsible for the day-to-day provision of business-as-usual services under the BSC.
Nigel Smith
Chief Financial Officer
Nigel has overall responsibility for all aspects of corporate financial accounting, producing ELEXON’s consolidated financial statements and managing the financial strategy.
Farida Khan – PA to the Chief Executive Officer
Our people
We have over 100 staff based at our offices in central London. Experts in their field, some have worked in the energy sector for many years, while others bring fresh skills and perspective from other sectors. Together they ensure that we deliver a great service to our customers every day and maintain our seamless delivery of the BSC.