Events relating to the Coronavirus (COVID-19) are changing on a daily basis. We took an early decision to base all of our staff at home as a means of continuing our service uninterrupted, and to help in efforts to stop the spread of the virus. Consequently, for the time being, we will no longer be hosting meetings at our London office, though we will continue to provide our services as normal.
Please read through our guidance with respect to forthcoming meetings which will be hosted remotely for the foreseeable future. Your meeting host will be in contact with you to ensure all necessary arrangements are in place to hold meetings virtually.
Clearly the specific advice we are referencing here may change so we ask all committee members and stakeholders to ensure they keep up to date on advice from the Government and we will also update our procedures, and notify you, as appropriate.
For further information please visit the Public Health England website.
About the Panel
The BSC Panel plays an important role in helping to ensure that the provisions of the BSC are given effect; it must do so promptly, fairly, economically, efficiently, transparently and in such a manner as will promote effective competition in the generation, supply, sale and purchase of electricity.
The BSC Panel is a group of industry experts and consumer representatives. Its role is to govern the BSC and ensure that all Parties comply with the code’s rules. The Panel also assesses BSC rule change proposals (called Modifications) and votes on whether to approve or reject a Modification. In cases where the change has a material impact on BSC Parties, the Panel makes a recommendation to Ofgem on whether the change should be approved or not.
Attending Panel Meetings
Please contact the firstname.lastname@example.org if you want to attend the open session of any BSC Panel meeting.
Please note that we record BSC Panel meetings for quality and training purposes.
We do not publish these recordings. However, they may be shared with Panel members and the appointed attendees from Ofgem and Distribution Businesses as well as the BSC Auditor and employees of ELEXON Ltd.
By attending and/or participating in the BSC Panel meeting you agree that your contributions at the Panel meeting will be recorded.
Balancing and Settlement Code Panel Chair highlights important contributions to the electricity sector
12 March 2020 marked the 300th meeting of the Balancing and Settlement Code (BSC) Panel, almost 20 years on from its first meeting on 18 August 2000.
Michael Gibbons, Chair of the BSC Panel, said: “Over the past 20 years the Panel has played a critical role in supporting and driving change in the electricity system. This has included helping the development of new electricity trading arrangements, measures to improve security of supply, and more recently, delivering changes which support innovation and the transition to a smarter electricity system.
“As an independent body which includes representatives from the industry, the regulator and consumer groups, the Panel brings a huge amount of expertise and insights to the decision making process. I am very proud to chair the Panel and I thank all Panel members past and present who have contributed to its work.
“The future electricity system promises to be technology based, with a greater focus on consumers. The BSC will continue to play a pivotal role in it. I look forward to working with Panel members and ELEXON to deliver further changes to the BSC, which support a more flexible, decentralised electricity system on the road to net zero.”
Spotlight on the work of the Balancing and Settlement Code Panel
- In 2002 Ofgem approved Modification P108 ’Enable the BSCCo (ELEXON) to prepare for the implementation of British Electricity Trading and Transmission Arrangements (BETTA)’. This followed a recommendation from the Panel. This change allowed ELEXON to extend its vires and work with Ofgem in preparation for BETTA. It included planning the transition from the existing arrangements in England and Wales and Scotland, and the introduction of a GB-wide Balancing and Settlement Code.
- Following the banking collapse in 2008, the Panel worked closely with ELEXON to manage defaults by some BSC Parties. Also, between 2018/19, the Panel, ELEXON and Ofgem managed the exit from the market of 16 more Parties through the Supplier of Last Resort process.
- During 2013 and 2014, the BSC Panel gave advice (using ELEXON’s expertise) to Government, in support of the changes necessary to the BSC and its subsidiary documents, to enable Electricity Market Reform (EMR) Contracts for Difference and Capacity Market settlement to be carried out by ELEXON’s subsidiary EMR Settlement Ltd.
- In 2018, the Panel gave its backing to Modification P362 ‘Electricity market sandbox’, which was approved by Ofgem in August that year. This sandbox is a key BSC initiative to support innovation by allowing new and existing companies to test their ideas for a set period without having to meet the usual code requirements. It was the first of its kind to be introduced in any of the 11 major energy codes.
- The Panel has given support to ELEXON’s plans for our technology transformation through on-going endorsement of our Foundation Programme, which is delivering our new digital platform. The platform will digitalise the customer experience and meter to bank business processes. It is engineered from the ground up to be flexible and scalable to adapt to new developments. As well as smart meters, these developments include increases in the number and type of participants in the electricity market, and changes in how electricity is settled. It will also allow ELEXON to offer more efficient and effective BSC services to customers.
- The Panel is giving ongoing support to the industry’s progress towards Market-wide Half Hourly Settlement by responding to consultations and engaging directly with ELEXON and Ofgem.
- In August 2018, Ofgem approved Modification P344 ‘Project TERRE’ following the Panel’s recommendation. This change also allowed ELEXON and National Grid ESO to open the Balancing Mechanism to independent aggregators in December 2019, a ground-breaking change to support more flexible electricity markets. Project TERRE (Trans European Replacement Reserves Exchange) will create a pan-European market for trading electricity replacement reserves. ELEXON is now working with National Grid ESO to deliver the second part of this Modification, which will support National Grid ESO in joining the replacement reserves market.
- In recent years the BSC Panel has, through ELEXON, engaged closely with political and legislative developments in the European Union. This includes carrying out, and consulting on extensive planning to manage the potential impacts of Brexit on the electricity market arrangements.