Glossary

Updated Risk documentation is now available

We have published updated versions of the 2022/23 Risk Evaluation Register (RER) and the Risk Operating Plan (ROP) following a review completed in July 2022.

Where can I find the new Risk documents?

Links to the updated documents are the webpage below.

Updates made to the documents

The updates we have made to the documents are:

  • Removing references to BSCP514 (SVA Meter Operations for Metering Systems Registered in SMRS), which is now obsolete following the ‘Retail Code Consolidation Significant Code Review’ which moved certain BSC obligations to the Retail Energy Code (REC)
  • Incorporating potential Risk impacts that relate to the implementation of Ofgem’s Faster Switching Programme in July 2022
  • Reflecting the delayed decision on whether to implement Modification P427 (Publication of Performance Assurance Parties’ impact on Settlement Risk) as a Risk management tool

From when do the revisions apply?

The new versions of the RER and the ROP were approved by the Performance Assurance Board (PAB) on 28 July 2022 and will be adopted by the PAB for the remainder of the 2022/23 Performance Assurance Operating Period (PAOP).

The Quarterly Performance Assurance Report (QPAR)

The QPAR summarises activities that our Assurance team have undertaken throughout the year to mitigate the risk of error in Settlement.

The first report for 2022/23 (covering April to June 2022)  highlights progress by the team to ensure that the Focus Risk Events, identified in the ROP 2022/23, are managed appropriately. The QPAR  is now in a new and more succinct format. 

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