BSC Simple Guides
The Balancing and Settlement Code (BSC) is a lengthy legal document. The following guides provide a good starting point for understanding what each part of the BSC covers.
Acronyms and Defined terms
Words or phrases (other than headings or titles) that are capitalised in these summaries generally appear as defined terms in the BSC (either in Section X or in context in the Section to which they relate).
BSC Framework Agreement
The BSC Framework Agreement is the agreement signed by those members of the Electricity Pool of England and Wales, BSCCo, the Authority and Transmission Company (known as the Original Parties) by which the BSC was made contractually binding the Original Parties in 2000.
The Pool Supplement sets out provisions for final settlement relating to trading under the Pooling and Settlement Agreement (P&SA) up to the introduction of the new wholesale trading arrangements on 27th March 2001; provisions for the satisfaction, performance and discharge of certain other rights and obligations of Pool Members accrued under the P&SA; the arrangements under which provisions in the P&SA are treated as applying between Parties; and the Panel and ELEXON’s roles and responsibility in relation to these matters.
Section A: Parties and Participation
Section A of the BSC deals with Parties and participation. The main issues covered include the capacities that a Party may have under the BSC; the arrangements for admission of new Parties; requirements for Parties to provide information to ELEXON, and to register with the Central Registration Agent (CRA); and provisions for withdrawal and expulsion from the BSC.
Section B: The Panel
Section B covers the establishment of the Balancing and Settlement Code Panel, the appointment and duties of Panel Members, the powers and functions of the Panel, the proceedings of the Panel, Panel Committees, Annual Reports and the Annual BSC Meeting.