Glossary

Changes to BSC Parties and Qualified Persons: January 2021

This page lists changes to the status of Balancing and Settlement (BSC) Parties and Qualified Persons in January. It includes information on any new qualifications and registrations, new market participants, withdrawals and defaults.

Change of Party details

Bruntwood Energy Services Ltd (Party ID: TAILWIND)

Bruntwood Energy Services Ltd has changed its Party name to Unify Energy Limited as of 21 January.

CVA Qualification and registration

GreenSpark Analytics Limited (Party ID: GREENPRK)

GreenSpark Analytics Limited has successfully completed CVA Qualification and has registered in the role of a Non-Physical Trader as of 27 January.

Fluid Power Ltd (Party ID: FLUID)

Fluid Power Ltd has successfully completed CVA Qualification and has registered in the role of a Non-Physical Trader as of 15 January.

National Grid North Sea Link Limited (Party ID: NGNSL)

National Grid North Sea Link Limited has successfully completed CVA Qualification and has registered in the roles of an Interconnector Administrator and Interconnector Error Administrator as of 12 January.

Default of BSC

Green Network Energy LTD – Party ID: ZEPHYR

The Panel noted that the Defaulting Party is in Default under Section H 3.1.1(c)(iii). The Credit Cover Percentage, as determined by the ECVAA, was not equal to or lower than 90% by the end of the same numbered Settlement Period on the second to next occurring Working Day after the Settlement Period during which the Trading Party was in Level 2 Credit Default and had a Credit Cover Percentage exceeding 100%.

The Panel considered this matter and, having regard to its objectives under Section B1.2.1 and to its other obligations under the BSC, resolved as follows:

  • Pursuant to Sections H3.2.1(b), H3.2.2(a) and H3.2.2(b) to:
    1. (i) suspend with immediate effect the right of the Defaulting Party to submit (or have submitted on its behalf) Energy Contract Volume Notifications and Metered Volume Reallocation Notifications under Section P of the BSC; and/or
    2. (ii) disapply (for the purposes of Settlement) with immediate effect all Energy Contract Volume Notifications and Metered Volume Reallocation
      Notifications submitted by or on behalf of the Defaulting Party (for Settlement Periods that the Submission Deadline has not passed).
  • (b) Pursuant to Section H3.2.1(b) and H3.2.2(f), the day following an appointment of a Supplier of Last Resort, to suspend the right of the Defaulting Party to receive reports and data.
  • (c) Pursuant to Section H3.2.1(f), to notify the Funds Administration Agent on behalf of the BSC Clearer to treat the Defaulting Party as a Defaulting Party for the purposes of Section N of the BSC.
  • (d) Pursuant to Sections H3.2.1 (b) and H3.2.2 (g), to suspend with immediate effect the right of the Defaulting Party to vote pursuant to Annex B-2 of the BSC.
  • (e) To notify the Defaulting Party and, pursuant to Section H3.2.1(a), each other BSC Party of the Default.

Supplier of Last Resort

EDF Energy Customers Limited (Party ID: LENCO) has been appointed as the Supplier of Last Resort for the customers of Green Network Energy Limited (Party ID: ZEPHYR).

EDF Energy Customers Limited will take over supply of the customers with effect from 00:01 (GMT) tomorrow, 31 January 2021.

Visit Ofgem’s website for further information regarding EDF taking on customers of Green Network Energy.

Simplicity Energy Limited – Party ID: ARIZ

The Panel noted that the Defaulting Party is in Default under Section H 3.1.1(c)(iii). The Credit Cover Percentage, as determined by the ECVAA, was not equal to or lower than 90% by the end of the same numbered Settlement Period on the second to next occurring Working Day after the Settlement Period during which the Trading Party was in Level 2 Credit Default and had a Credit Cover Percentage exceeding 100%.

The Panel considered this matter and, having regard to its objectives under Section B1.2.1 and to its other obligations under the BSC, resolved as follows:

  • Pursuant to Sections H3.2.1(b), H3.2.2(a) and H3.2.2(b) to:
    1. (i) suspend with immediate effect the right of the Defaulting Party to submit (or have submitted on its behalf) Energy Contract Volume Notifications and Metered Volume Reallocation Notifications under Section P of the BSC; and/or
    2. (ii) disapply (for the purposes of Settlement) with immediate effect all Energy Contract Volume Notifications and Metered Volume Reallocation Notifications submitted by or on behalf of the Defaulting Party (for Settlement Periods that the Submission Deadline has not passed).
  • (b) Pursuant to Section H3.2.1(b) and H3.2.2(f), the day following an appointment of a Supplier of Last Resort, to suspend the right of the Defaulting Party to receive reports and data.
  • (c) Pursuant to Section H3.2.1(f), to notify the Funds Administration Agent on behalf of the BSC Clearer to treat the Defaulting Party as a Defaulting Party for the purposes of Section N of the BSC.
  • (d) Pursuant to Sections H3.2.1 (b) and H3.2.2 (g), to suspend with immediate effect the right of the Defaulting Party to vote pursuant to Annex B-2 of the BSC.
  • (e) To notify the Defaulting Party and, pursuant to Section H3.2.1(a), each other BSC Party of the Default.

Supplier of Last Resort

 

British Gas Trading Limited (Party ID: BRITGAS) has been appointed as the Supplier of Last Resort for the customers of Simplicity Energy Limited (Party ID: ARIZ).

British Gas Trading Limited will take over supply of the customers with effect from 00:01 (GMT) tomorrow, 31 January 2021.

Visit Ofgem’s website for further information regarding British Gas taking on customers of Simplicity Energy Limited.

New market participants

Uncia Energy LP – Series J (Party Id: UNCIA)

Uncia Energy LP – Series J has acceded to the Balancing and Settlement Code as of 4 January. This Party intends to register in the role of Non-Physical Trader.

Enspired GmbH (Party Id: ENSPIRED)

Enspired GmbH has acceded to the Balancing and Settlement Code as of 4 January. This Party intends to register in the role of Non-Physical Trader.

Party Novation application 

Currently none

Withdrawal from the BSC

Currently none

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