P344 ‘Project TERRE’
Formal title: ‘Project TERRE implementation into GB market arrangements’
P344 seeks to align the Balancing and Settlement Code (BSC) with the European Balancing Project TERRE (Trans European Replacement Reserves Exchange) requirements. This is in order to allow the implementation of the TERRE balancing product at national level and hence ensure compliance with the European Electricity Balancing Guideline (EB GL).
P344 was implemented on 28 February 2019 as part of the February 2019 BSC Release. Whilst the documentation was implemented, only the provisions relating to market entry and registrations are active. The product will go live later in 2019 (likely December 2019), when all BSC obligations will become active. Market participants will be notified in advance of the go-live date for the TERRE product.
National Grid raised P344 on 1 June 2016. The Panel considered the initial written assessment (IWA) at its meeting on 9 June 2016, where it agreed to an initial three-month assessment with an interim assessment report to be brought to it at its meeting in September. From this point onwards, the P344 Workgroup developed the solution to P344.
The Second P344 Assessment Procedure Consultation closed on 30 January 2018. The Workgroup finalised the solution at its meeting on 22 March 2018. The Assessment Report was presented to the BSC Panel at its meeting on 10 May 2018 for its initial recommendations, whereby it initially recommended that the Proposed Modification be approved and the Alternative Modification rejected.
The Report Phase Consultation closed on 1 June 2018 and the Draft Modification Report was presented to the BSC Panel for decision at its meeting on 14 June 2018. The BSC Panel recommended to the Authority that the P344 Alternative Modification (mandatory sharing of HH delivered volumes with the customer’s Supplier) be approved and the Proposed Modification (customer consent required for sharing of HH delivered volumes with customer’s Supplier) be rejected.
Ofgem determined on 24 August 2018 that the P344 Proposed Modification (customer consent required for the sharing of HH delivered volumes with the customer’s Supplier) be approved for implementation on 28 February 2019 as part of the February 2019 BSC Release
Five industry working groups (IWGs) have been formed to discuss and develop the processes that support TERRE in the Code Subsidiary Documents (CSDs). These IWGs can be found on the ELEXON website under Committees & Groups – Industry Working Groups
The exact P344 product go-live date will be communicated to market participants in advance of December 2019.