Issue 110 ‘Modernising ECVN/MVRN submission and acknowledgement processes’

The method of Energy Contract Volume Notification (ECVN) submission has remained the same since New Electricity Trading Arrangements (NETA) go-live in March 2001 with Section P of the BSC allowing for 20 minutes from submission to acknowledgement (after which an ECVAA System Failure is declared). The current practice of notification can put Trading Parties and their counterparties at financial risk, particularly when notifying close to the Submission Deadline. This is because the rejection feedback can be close to or after the Submission Deadline leaving insufficient time to make a correction.

The current solution is underpinned by ageing technology from submission, authentication, acknowledgment and reporting. Elexon operates to a 15 minutes service level rather than the 20 minutes ECVAA System Failure point for acknowledgement, this service level has been met in eight of the past 12 months. Customer feedback has indicated a preference for a reduced service level that is relevant to trading in real time and therefore requiring immediate acknowledgement of their trades. This may increase competition by increasing liquidity in trades closer to the Submission Deadline.