BSC Guide: How Balancing and Settlement works
We want to make it easier for you to understand the Balancing and Settlement Code (BSC) so we have created this BSC Guide.
We have worked with publisher Wiley, the producers of the well-known series of books For Dummies to create ‘The Balancing and Settlement Code for Dummies’.
The Dummies Guide is a simple explanation of how the BSC works and what ELEXON’s role is. It explains why the BSC exists, how those rules affect the wholesale electricity market, and why the rules are important.
The Balancing and Settlement Code for Dummies is here to explain all.
Why do we need the Dummies Guide?
The BSC rules are detailed and can be viewed as complex, however they are necessary to make sure that the electricity market can work smoothly. This ensures BSC Parties pay for the electricity that their customers use.
The Guide will cover the basics, such as:
- how the BSC began
- which electricity companies (including Suppliers and Generators) have to meet the BSC rules
- electricity supply and demand – how it’s forecast and how the Settlement process works
- how the Performance Assurance process works in the BSC
You will also find out what ELEXON’s role is and how we offer great customer service and support changes to the BSC. As well as this, we also help to improve the industry by:
- looking to consolidate the 11 major energy codes and make them simpler in order to support the smarter electricity system
- contributing towards achieving the Government’s net-zero emissions target
- introducing new central information systems for the BSC that will support the rapidly changing market
The new platform systems provides digital market entry for new companies, digital customer account management, Settlement services and data services.