TERRE Industry Day: 16 January 2018
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What is Project TERRE?
Project TERRE (Trans European Replacement Reserve Exchange) is a European project to implement a new Replacement Reserve (RR) balancing product, which is being developed by a group of European Transmission System Operators (TSOs), including National Grid. The product is required to fulfil requirements on TSOs from incoming European legislation through the European Electricity Balancing Guideline (EB GL). Among other things, the EB GL requires those TSOs that choose to use Replacement Reserve (RR) (balancing energy products with a >15 minute lead time) as a balancing product to implement and make operational a new European platform for the exchange of energy.
Project TERRE will enable all TERRE participating Balancing Service Providers (BSPs) (defined as a market participant with reserve-providing groups able to provide balancing services to TSOs) to submit bids to National Grid on an hourly basis to fulfil 15 minute delivery periods.
BSC Modification P344 ‘Project TERRE implementation into GB market arrangements’ and Grid Code Modification GC0097 ‘Grid Code Processes Supporting TERRE’ seek to implement the TERRE product in the GB electricity market.
Both Modifications will be issued for Industry Consultation during January 2018, and this event will educate market participants about the project and enable questions to be answered by the ELEXON and National Grid TERRE implementation teams.
What topics will be covered?
The TERRE Industry Day will cover:
- Welcome and introduction to ELEXON
- Introduction to Project TERRE – What is it?
- The detail of the GB solution – from bids to dispatch to Settlement
- Implementation timescales of the product
- The P344 and GC0097 Industry Consultations
- Question and Answer Session with the GB Project TERRE Teams
Who can attend?
Any interested industry participant is welcome to attend the TERRE Industry Day, subject to confirmation of securing a place at the event. There will be no cost for attending the event.
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