BSC Changes impacting a Non-Physical Trader
This page shows which Modifications and Change Proposals have been identified as impacting a Non-Physical Trader. Please note that the assessment of where impacts may affect certain roles within the electricity market may be amended during the course of the Change process.
P405: Allow notices via email where currently prohibited
P405 will allow notices that the BSC currently requires to be sent by post or fax to be sent by email.
P417 ‘Move the Letter of Credit templates and Approved Insurance Product requirements to the BSC Website’
P413 ‘Market-wide Half Hourly Settlement Programme Manager’
P424 ‘Re-insert correct definition of Settlement Error’
P416 Introducing a route of appeal for the Annual Budget in line with the proposals for the Retail Energy Code
P416 seeks to amend the BSC to include an appeals mechanism that BSC Parties could use to challenge items in the Annual Budget.
P410 ‘Changing imbalance price calculations to comply with the Imbalance Settlement Harmonisation regulations’
P410 sought to introduce changes to the imbalance price calculations to ensure BSC compliance with the European Imbalance Settlement Harmonisation regulations.
P438 ‘Amending the BSC to address sanction orders’
This Modification would allow Elexon to seamlessly give effect to sanctions orders.
P445 ‘Improving efficiency of Default Funding Share process and Energy Supply Company Administration’
This Modification seeks to allow the Funds Administration Agent (FAA) to process a Default Funding Share for unpaid Trading Charges earlier to reduce the cost of the borrowing facility and reduce the risk of shortfall. The Modification will also allow the Panel to instruct the FAA to release Trading Charges where the default relates to an Energy Supply Company Administration (ESCA).
P448 ‘Mitigating Gas Supply Emergency Risks’
The war in Ukraine and resultant gas shortages in Europe significantly increases the risk of Generators in GB being prevented from generating this winter (due to Firm Load Shedding during a Gas Supply Emergency). If that happens Generators are likely to incur massive Imbalance Charges and credit cover requirements, potentially causing them to become insolvent. Even if such an Emergency does not occur, the risk that it could occur is likely to force Generators to reduce their forward and Day Ahead trading, reducing liquidity in electricity markets, and raising costs for electricity consumers.
P426 ‘Combining related BSC Parties’ Energy Indebtedness positions for the Credit Cover Percentage calculation’
This Modification proposes to remove inefficiencies with the Credit Cover calculation by allowing related BSC Parties to combine their Energy Indebtedness prior to calculating the Credit Cover Percentage.