P365 Report Phase Consultation
P365 seeks to amend the BSC such that the Elexon Board can determine whether to bid for the role of REC administrator (and perform the role if the contract is awarded to Elexon). This will be done via a separate not for profit subsidiary (RECASCo), funded by Elexon (through BSC Parties).
Elexon operates on a not for profit basis, therefore if the Elexon Board determines a bid should be submitted, the costs incurred will be borne by BSC Parties, with bid costs capped at the sum of £100k.
The proposed changes ensure that Elexon is ring-fenced from any enduring operational costs and risks associated with performing the role of REC administrator.