Webinar on Modification P415: Access to wholesale markets for VLPs
In November 2024, Elexon will implement Modification P415 ‘Facilitating access to wholesale markets for flexibility dispatched by Virtual Lead Parties’.
This is a ground-breaking change to the BSC which supports Net Zero by allowing Virtual Lead Parties (VLPs) to trade flexibility offers in the wholesale market.
Currently, Virtual Lead Parties (VLPs) and Asset Metering VLPs (AMVLPs) can offer services in the Balancing Mechanism, but not in the wholesale market.
On 15 May from 14:00 to 15.30 we are hosting a webinar to explain the change, and the impact it has on BSC systems and processes.
Signing up to attend
You can attend the webinar using this Microsoft Teams link. If you are using a desktop device you do not need to have the MS Teams app installed on your device to attend and participate in the webinar
Who is the webinar aimed at?
The webinar will be of interest to:
- Any organisation that is interested in becoming a Virtual Trading Party (this is a new type of Trading Party category that has been created through P415 to trade flexibility in the wholesale market)
- Existing VLPs, and/or AMVLPs
- Suppliers wishing to understand how the compensation process proposed in BSC Modification P444 ‘Compensation for Virtual Lead Party actions in the BM’ will work. P444 is an associated compensation method for any volumes in the Balancing Mechanism that are adjusted by VLPs.
Agenda for the webinar
- An overview and explanation of P415
- A comparison of the similarities and differences between VTPs and VLPs
- VTP Qualification
- The impact of P415 on BSC systems (including the Settlement Administration Agent, the Energy Contract Volume Aggregation Agent, and the Funds Administration Agent)
- Testing approach for the changes in advance of implementation
- Impacts on BSC market entry and qualification
See more detail on P415
- Our P415 webpage has the full detail on the Modification
Find out more about the VLP role