Glossary

Are you interested in becoming a member of the Credit Committee?

The Credit Committee (CC) is one of several Balancing and Settlement Code (BSC) committees which play a role in managing and governing the code. The CC, which is responsible for all BSC matters relating to the Credit Assessment Price (CAP), is looking for new members. 

The role of the CC

The powers, functions and responsibilities of the CC include:

  • Deciding whether or not to propose new CAP values which are subject to consultation with BSC Trading Parties
  • Considering the CAP value proposed by Elexon
  • Arranging for Elexon to consult with Trading Parties in relation to any proposed new CAP values
  • Setting any new CAP value
  • Examining the suitability of the CAP Review process, and
  • Keeping under review the suitability and availability of forward price data.

You can find more information about the CC, including its current membership, full Terms of Reference and past papers, on the Credit Committee page of our website.

Applying to be a member of the CC

  • To apply please complete our application form setting out your relevant experience and expertise.

What’s involved in being a member?

Previously the CC met on an ad-hoc basis (usually via teleconference). Some business was also carried out over email, as required.

However under the alternative CAP review process which the CC moved to on 1 November 2021, the CC now meets to review (and if necessary) propose a new CAP every two weeks.

The move to the alternative process allows Elexon and the BSC to be more responsive to volatile wholesale prices. It ensures that the CAP can respond quickly to the ‘fast changing market’ conditions and protect BSC Parties as effectively as possible.      

When do CC meetings take place?

CC Members need to be available for meetings on a fortnightly basis while the alternative process is in force (as it is currently).  Under the normal review process the frequency of meetings depends on CAP trigger events.

The meetings generally last around half an hour.

If Members are unable to attend or carry out their duties and functions as a Member they may (if the CC Chair agrees) appoint a BSC Panel Member, a member of another BSC Panel Committee, or someone from a BSC Party to act as an alternate.

Further information

If you have any questions about being a member of the CC, please email [email protected] or call Elliott Harper, Head of Governance Services, on 020 7380 4302.

My BSC

Click on the X next to any of the icons to replace them with a short-cut link to the page you are currently on or search for a specific page.

List of BSC Insights

Previous Circulars

Training videos and services

Market Entry

Charge Codes and Switch Regimes

Add New

×

Or