P178

Formal title: Reduction in the BSC withdrawal timescale for parties who have settled the vast majority of their trading debts

Current Status

Submission
Initial Written Assessment
Assessment Procedure
Report Phase
With Authority
Rejected

Summary

The BSC should be modified to allow parties who are non-physical traders or are only responsible for CVA registered meters to withdraw from the BSC anytime after the second day reconciliation run after the last settlement day, on the condition they have met all the other criteria for withdrawal. Accepting that all parties remain liable for further reconciliation, parties withdrawing before the final reconciliation would be required to leave a cash deposit with Elexon for the purpose of covering any debts arising. This “withdrawal deposit” would be adjusted with each subsequent reconciliation and a final settlement statement and any remaining money would be returned to the party after the final reconciliation from the last settlement day.

Progression

The Authority rejected the Proposed and Alternative Modifications on 22 April 2004

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