Modification P399 approved by Ofgem
On 18 May, Ofgem approved Modification P399. This modification will level the playing field between publicly available data on BM and non-BM trades, so that market participants can identify the organisations and assets which are providing these additional non-BM balancing services. P399 will be implemented on 4 November 2021 as part of the November 2021 BSC release.
Finding ways to improve transparency in the energy sector is important for improving confidence in the market arrangements. Currently, each action that National Grid ESO takes outside the BM to keep the system in balance is reported with a unique number. However, the counterparty to each trade with National Grid ESO is not identified, which creates an information advantage to those counterparties who have traded with National Grid ESO.
Following the implementation of P399, a level the playing field will be established between publicly available data on BM and non-BM trades. This will mean that market participants can identify the organisations and assets that are providing these additional non-BM balancing services.
About the Modification
Modification P399 – Formal title: Making the identity of Balancing Service providers visible in the Balancing Services Adjustment Data – seeks to include additional information in the Balancing Services Adjustment Data (BSAD) to identify the assets involved in bilateral trades.