P344 ‘Project TERRE’ approved
P344 ‘Project TERRE implementation into GB market arrangements’ will be implemented on 28 February 2019 as part of the February 2019 BSC Release. On 24 August 2018, the Authority approved the Proposed Modification (customer consent required for the sharing of Half-Hourly delivered volumes with the customer’s Supplier) for P344. Click here to read Ofgem’s decision letter.
BSC Modification P344
P344 is an enabling Modification of the Trans-European Replacement Reserves Exchange (TERRE) balancing product, which will allow Balancing Service Providers (BSPs) (Parties, customers and independent aggregators) to deliver Replacement Reserve (RR) volumes to National Grid from generation or demand side response. P344 will facilitate payments between National Grid and GB BSPs for activations issued to GB BSPs via National Grid subject to validation of delivered volumes. The BSC changes for P344 also remove all BSC barriers to customers and independent aggregators participating directly in the existing Balancing Mechanism (BM), hence promoting competition across a wider and more diverse set of market participants.
P344 has wide-reaching implications across the industry. You can find further information about the full impacts in the relevant documents on the P344 page of our website.
What’s happened so far?
We have actively engaged with colleagues from across the industry, which has enabled and facilitated effective cross-Code collaboration with National Grid’s Grid Code. For the past two years, we have worked closely with National Grid and the P344 Workgroup members to develop the P344 solution, which is the most complex and wide ranging Modification in the history of the BSC. It has been a long journey, but the unified approach with National Grid means that we have worked hard to find a solution for the wholesale electricity market, and most importantly, for our customers and stakeholders.
ELEXON’s Foundation Programme
ELEXON’s Business Strategy, with the support of our stakeholders, aims to simplify and consolidate complex services, develop new market solutions and actively facilitate innovation for the benefit of the evolution of our energy markets. The Foundation Programme is a key part of this, by adapting our central systems and underlying
technology platforms to meet the future needs of our customers.
Ofgem’s approval of P344 means our Foundation Programme continues to be on track to deliver this more flexible, accessible and scalable central systems data platform to support the BSC changes required for TERRE, and will also provide enduring value to the industry for future market development initiatives.
Where can I find more information?
You can find more information on the P344 page of our website. If you have any questions or would like to discuss this Modification further, please contact Elliott Harper on 020 7380 4302 or email firstname.lastname@example.org.