P324

Formal title: Review of BSCCo’s governance: introducing improved accountability to BSC Parties

Current Status

Submission
Initial Written Assessment
Assessment Procedure
Report Phase
With Authority
Awaiting Implementation
Implemented

Summary

P324 proposes to implement changes to BSCCo’s governance arrangements. This is in order to address the issues identified in the Knight Review, an independent review of Elexon’s governance arrangements jointly commissioned by the BSCCo Board and the BSC Panel.

The Proposed Modification will:

  • make the BSCCo Board accountable to Parties by allowing them to vote to approve Director appointments and to remove Directors;
  • allow Parties to vote on non-binding resolutions on other matters;
  • allow for up to two members of the BSCCo executive team to be appointed as Directors;
  • allow the Board to remunerate any of its non-executive Directors;
  • allow the Board to set BSCCo’s Business Strategy;
  • allow the Board Chairman and the Panel Chairman to be separate people; and
  • remove the need for the Authority to approve the remuneration given to the Panel Chairman.

The Alternative Modification is identical to the Proposed Modification except that remuneration would remain limited to ‘non-industry’ non-executive Directors only.

Progression

National Grid raised P324 on 24 July 2015. The Panel agreed to submit P324 to an Assessment Procedure, and as part of this the Workgroup issued two Assessment Consultations. The Workgroup recommended that the Alternative Modification should be approved, and its Assessment Report was presented to the Panel on 11 August 2016.

The Panel initially recommended that the Proposed Modification should be approved and issued its Report Phase Consultation. The Panel made its final recommendation that the Proposed Modification should be approved on 8 September 2016.

On 14 October 2016 the Authority approved the P324 Proposed Modification for implementation on 11 November 2016.

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