2021/22 Annual Report and Financial Statements published

We have published our latest annual report and financial statements, covering 1 April 2021 to 31 March 2022.

The reports explain our performance against our strategic objectives and our actual spending over the year, compared with our budget.

The past year has been one of the most challenging that the energy sector has seen since before the introduction of the competitive market.

Increasing global energy demand, including as part of the COVID recovery, lower than expected gas storage levels in Europe and the impact of the devastating conflict in Ukraine resulted in wholesale prices increasing to record levels.

Throughout the year, we adapted to work in a highly flexible way so that we could continue to deliver the services our customers expect from us. We also supported Ofgem by managing the exit of 26 Suppliers from the market.

During the year we pressed ahead with our work to support Net Zero, which includes preparing to implement Market-wide Half Hourly Settlement (MHHS), and continuing to digitalise our services.

 

Highlights from 2021/22 include:

  • Improving the Customer Solution, the first outward facing component of Elexon Kinnect our new cloud platform, and beginning the migration of the Balancing Mechanism Reporting service (BMRS) to the new Kinnect Analysis and Insights Solution
  • Implementing Modification P375 ‘Settlement of Secondary BM Units using metering behind the site Boundary Point’ on 30 June. This is an example of Modifications that support Net Zero by creating more opportunities for smaller asset owners to providing balancing services
  • Implementing P429 in February 2022. This removed the majority of reporting requirements and associated Supplier Charges for Performance Assurance Reporting and Monitoring System (PARMS) serials data. P429 has reduced the BSC reporting burden for Suppliers and we expect it to also reduce their costs for complying with the BSC Assurance regime
  • Establishing the independent MHHS Programme which is separate and ring-fenced from the rest of Elexon. The Programme has set up arrangements so it can design and deliver the MHHS implementation plan. Ofgem confirmed in April 2022 that Elexon will initially operate the Data Integration Platform that Suppliers will use to share MHHS data with Elexon. This followed a recommendation by the Architecture Working Group that event-driven architecture is used to
    create the new Data Integrated Platform (DIP)
  • Launching our Helix Programme, which will overhaul BSC systems so that they can support MHHS. The new Helix solutions we are developing will play a key role in delivering the benefits of MHHS to the sector
  • Completing our work to support Ofgem’s Targeted Charging Review (TCR). TCR involves major changes to how network charges are set, with the distribution charge aspects being introduced from April 2022. Our work on this involved a major expansion of Market Domain Data.

Our key statistics on performance over 2021/21

Our achievements over the past year include:

  • Carrying out 2,325 Settlement Runs
  • Implementing 12 Modifications and 12 Change Proposals
  • Helping 45 parties accede to the BSC and supporting 15 Parties in registering for roles under the BSC
  • Upholding 29 Trading Disputes totalling approximately £4.8m

Download the full reports:

Independent assessment of Elexon’s costs

In November 2021 we asked consultants Credera to benchmark costs for our internal departments against similar organisations in the public and private sector. For transparency, we have published the high level findings.

More information about the highlights

Contact Information

Communications Team
[email protected]

Accessibility

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