BMRS: the ‘go-to’ source for electricity market information
The Balancing Mechanism Reporting Service (BMRS) is the primary channel for providing operational data on the GB Electricity Balancing and Settlement arrangements. It’s used extensively by market participants to help make trading decisions and understand market dynamics, and acts as a prompt reporting platform as well as a means of accessing historic data. BMRS has a wider user base both within and outside of the energy industry which includes traders, regulators, industry forecasting teams and academics.
In recent years it has become the ‘one stop shop’ for electricity market information, covering the following information categories:
- Transmission: Balancing Mechanism data from the Transmission Company. Information includes System Operator to System Operator Trades (SO-SO), SO-SO Trade Prices and System Warnings.
- Generation: generation data including Wind Forecast Out-turn, Generation Output Useable (forecast) and Generation by Fuel Type (actual).
- Demand: Demand data including Demand Day Ahead (forecast), Initial Demand Out-turn (actual) and Peak Demand data.
- Balancing: data includes System Prices, Balancing Mechanism Unit (BMU) data such as Final Physical Notification (FPN), Maximum Export/Import Limits (MIL/MEL), Bid Offer data
- REMIT: information provided by market participants to comply with the inside information requirements of the Regulation on Wholesale Energy Market Integrity and Transparency (REMIT)
- Transparency: data for the Transparency Regulation originating from the Transmission company and market participants.
We are continually seeking to improve the performance of BMRS and the speed by which changes to it can be made. We aim to include exactly the information our customers require when they require it, avoiding the fragmentation of related information across various industry sources. Recent improvements also include:
- We have added an automated real-time machine-to-machine Data Push Service, which is superior to email, and also a data pull service (API) through which users can request specific data.
- We have sought ways to increase the future speed of change, recently making a change in less than four months, including Modification and implementation.
- We operate a BMRS Users’ Group to understand the needs of our customers as part of our improvement programme.
The BMRS is more popular than ever, both in terms of API usage made of it by our customers and interactive access. Following recent improvements it is coping with data volumes far in excess of what the old system could have coped with.
We’ve also had some great feedback from users: ‘It’s a game changer in how we receive information about what’s happening in the balancing mechanism and allows us to quickly meet new business requirements… We wish everyone provided an interface for market data like this!‘.