Settling non-BM Response and Reserve Services at a Price that reflects the real-time value of Energy Consultation (P412).

18 October 2021  –  26 November 2021, All day

Topic: Codes

Category: Consultation

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National Grid ESO (NGESO) raised BSC modification proposal P412 “Ensuring non-BM Balancing Services providers pay for non-delivery imbalance at a price that reflects the real-time value of energy”, to address the concern that although services settled through the Balancing Mechanism are compliant with this requirement, non-Balancing Mechanism services are arguably not.

Through the development of P412 several options to correct this were identified by the P412 Working Group.  Due to the potential scale and effects of these changes on market participants we agreed to launch a wider consultation to seek the views of all interested parties on how best to approach this issue. 

As such we invite all interested parties to respond to this consultation setting out their views on the options identified and any other areas that they consider to be relevant.  The conclusions from this consultation will feed into the P412 development process and allow all participants, NGESO and Ofgem to make an informed decision on how to progress an appropriate solution to this issue.

Please review the documentation and provide your responses using the Consultation Response Proforma below.

The consultation shall close on the 26 November 2021, at 5pm.

Your response should be sent to: [email protected].

https://www.elexon.co.uk/mod-proposal/p412/