Glossary Term: Energy Contract Volume Aggregation Agent
Acronym: ECVAA
The BSC agent responsible for ECVA.
The Energy Contract Volume Aggregation Agent (ECVAA) receives notifications of bilateral trades between Trading Parties. Once it receives, timestamps (to identify the exact time that the trade was made) and validates the trade, the data is sent to the Settlement Administration Agent (SAA). This is required for Settlement to be undertaken accurately.
The ECVAA also performs a credit check immediately after Gate Closure (one hour before real time trading) and processes requests from BSC Parties to reduce their cover.
Our Guidance Notes outline the processes for managing contract notifications and submissions to the ECVAA.
BSC definition
means the BSC Agent for Energy Contract Volume Aggregation in accordance with Section E.