Section U: Provisions Relating to Settlement |
Simple Guide |
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general obligations of Parties and BSC Agents relating to data and information; and
provisions relating to Settlement.
References in
Section U to Parties do not include Elexon or Elexon Clear.
Parties undertake that all the data and information provided by them (or on their behalf) to the
Panel, any
Panel Committee, Elexon, Elexon Clear or any
BSC Agent under the BSC is accurate and complete in all material respects. This undertaking does not, however, apply to
Energy Contract Volume Notifications (ECVNs) or
Metered Volume Reallocation Notifications (MVRNs) (
Section P outlines that information in such notifications will be assumed to be correct) or data submitted to the NETSO (as specified in
Section Q).
Each Party must keep its registrations and registration data up-to-date by notifying the relevant BSC Agent or the Supplier Meter Registration Agent (SMRA) of any change in the details prior to or upon such change occurring. Any failure or delay in doing so does not alter the Parties other obligations and liabilities under the BSC.
If a Party believes that there has been a non-trivial breach of the rules of Settlement in the BSC it is obliged promptly to report the matter in writing to the Panel. Similarly each Party and each BSC Agent must promptly notify Elexon and, if applicable, the BSC Agent whose system it affects, in writing of any non-trivial or persistent defects in, or in the operation of, any BSC System of which it becomes aware.
Unless subject to a duty of confidence or subject to specific restrictions in
Section H, each
Party must provide to the
Panel, any
Panel Committee and Elexon any data and information they require in order to carry out their functions and responsibilities.
Other than where ECVNs or MVRNs are rejected during a period of
Credit Default (as provided for in
Section M), wherever a
BSC Agent rejects or refuses any registration, submission or notification made by a
Party, it must indicate the reasons for the rejection or refusal. This rejection or refusal does not affect the
Party’s right where applicable (as specified in
Section W) to raise a
Trading Dispute.
Settlement of
Trading Charges (including
Reconciliation Charges) occurs on an initial basis and on four further occasions (as per the timetable established in
Section N) and following a
Post-Final Settlement Run.
Modifications to the BSC do not have retrospective effect for the purposes of Reconciliation Settlement Runs or Reconciliation Volume Allocation Runs unless explicitly stated otherwise.
The Trading Disputes Committee (TDC) may, for reasons of Trading Dispute or otherwise, determine the need for a Post-Final Settlement Run or an Extra-Settlement Determination in relation to a Settlement Day or part thereof.
Where an Extra-Settlement Determination is carried out Trading Parties and the NETSO will be liable to pay or be paid certain amounts (treated as Ad-Hoc Trading Charges) to Elexon Clear. The TDC shall determine the method of charging dependent on the circumstances (and may also decide on an interim proportion that should be paid).
Settlement Runs and Volume Allocation Runs are not carried out on any date which is more than 28 months after the Settlement Day to which they relate. Upon resolution of a Trading Dispute after this time (where the Trading Dispute was raised no later than 20 months after the Settlement Day in question) the TDC can determine, that an Extra-Settlement Determination be carried out. No cut-off point is specified for undertaking an Extra-Settlement Determination.
The TDC (after discussion with certain BSC Agents, NETSO and/or any Interconnector Administrator and/or any Market Index Data Provider) sets the timetable for the carrying out of Post-Final Settlement Runs and Post-Final Volume Allocation Runs or Extra-Settlement Determinations including the Notification Date for the Settlement Runs.
Elexon notifies Parties and BSC Agents of the Panel’s decision and timetable. An Interim Information Settlement Run, which does not result in the application of Trading Charges, is undertaken prior to the Initial Settlement Run:
for the purpose of informing Trading Parties and the NETSO of the amounts expected to give rise to payments under the Initial Settlement Run and to enable them to identify and seek correction of any errors that might appear to have been made; or
as a Credit Cover Volume Allocation run for the purpose of calculating Metered Energy Indebtedness in accordance with Section M.
Trading Charge data from the Interim Information Settlement Run is also provided to ECVAA for the purpose of calculating the Energy Indebtedness of each Trading Party. In extreme circumstances the Panel can delay a Timetabled Reconciliation Volume Allocation Run or a Timetabled Reconciliation Settlement Run.
Following receipt of the Payment Calendar from the Funds Administration Agent (FAA), the Settlement Administration Agent (SAA) prepares a Settlement Calendar (as per the details in BSCP01) and sends it to Elexon, each Party, the Central Data Collection Agent (CDCA), the Supplier Volume Allocation Agent (SVAA) and the Energy Contract Volume Aggregation Agent (ECVAA). The Settlement Calendar shows for the next BSC Year, consistent with the Payment Calendar, the date upon which, for each Settlement Day, the Interim Information Settlement Run, the Initial Settlement Run and Timetabled Reconciliation Runs are to be carried out and the date upon which each of the corresponding Volume Allocation Runs, and the Credit Cover Volume Allocation Run, are to be carried out and the resulting data delivered to the SAA.
The only circumstances under which data to be used in Settlement may be adjusted are the following:
prior to the relevant initial run in relation to a Settlement Day, by a relevant BSC Agent or relevant Party ; where it appears that there is a Settlement Error and the data relating to a particular Party
after the date of the relevant initial run in relation to a Settlement Day, by a relevant BSC Agent or relevant Party following the resolution of a Trading Dispute.
Section S sets out the circumstances under which data provided to or used by the
Supplier Volume Allocation Agent (
SVAA) may be adjusted or revised.
Where a data item or process used for Settlement is known to be erroneous, the relevant BSC Agent or relevant Party shall correct it for subsequent Settlement Days, notwithstanding the restriction in relation to prior Settlement Days, and shall inform Elexon accordingly.
A Party may only dispute or challenge data used in the results of any Volume Allocation Run or Settlement Run by raising a Trading Dispute. The outcome of this will be taken into account in a subsequent Timetabled Reconciliation Settlement Run or Post-Final Settlement Run or Extra-Settlement Determination and not before unless otherwise permitted.
Parties, Party Agents and BSC Agents are required to retain a minimum of 40 months of data to support the Trading Disputes process. The first 28 months to be retained in the live environment such that Settlement Runs or Volume Allocation Runs can be supported. A further 12 months data can be retained in any format that allows the data to be provided for use in an Extra-Settlement Determination within 10 Business Days.
Settlement Runs are to be carried out using the latest data available and this data shall be deemed to be correct for the purpose of that Settlement Run and Parties are bound by it.
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