Elexon implemented 42 Modifications and Change Proposals during 2022/23, the highest number of changes we have implemented in a single year since 2009.
The statistics are from our 2022/23 Balancing and Settlement Code (BSC) annual report which we have published today (30 June) alongside the 2022/23 Elexon annual report and financial statements.
Supporting our customers and the industry during challenging times
The annual BSC report explains the work that Elexon and the BSC Panel have done to deliver excellent services to BSC Parties, and to help the sector meet Net Zero. The annual report and financial statements set out Elexon’s performance, with detail on our spending over the year, compared with our budget.
Elexon and the Panel have worked throughout the year to deliver high quality support to BSC Parties, which is especially important during these challenging times for the UK’s economy. Elexon and the Panel have also worked to provide input, views and expertise to the policy development by the Government and Ofgem (including the Review of Electricity Market Arrangements and the Codes Review).
Download the full reports:
Highlights from both reports include:
- Keeping our costs as low as possible and delivered a saving of £4.9m during 2022/23 against our business plan.
- Implementation of two Modifications that support Net Zero: P375 ‘Settlement of Secondary BM Units using metering behind the site Boundary Point’ and P376, ‘Utilising a Baselining Methodology to set Physical Notifications’
- Speedy implementation (within one to three months of two urgent BSC Modifications) of P447 ‘Avoiding impact of Winter Contingency actions on cash-out prices’ and P448 ‘Mitigating Gas Supply Emergency Risks’ which supported security of electricity supplies during winter 2022/23
- Continued roll out of our cloud platform, Kinnect, with two iterations of the Insights Solution in June and December 2022, and the addition of new functionality for the Customer Solution to support BSC rule changes. We also launched the new Settlement Solution in June 2023
- Maintaining our adherence to the Government’s Disability Confident employer scheme and the Mental Health at Work Commitment
- Achieved a 45% increase in the number of individual users of the Balancing Mechanism Reporting Service APIs (rising from 62,000 to 90,000)
- Approval by the Performance Assurance Board of 21 Qualification applications (to become a BSC Party) driven by VLPs and Asset Metering VLPs (AMVLPs)
- Raised more than £1,200 for charities chosen by our staff: Cancer Research UK and the Mental Health Foundation.
Our key statistics on performance over 2022/23
- We implemented a total of 21 Modifications and 21 BSC Change Proposals. Six of the 21 Modifications implemented were classed as ‘urgent’ where Elexon works quickly with industry to develop and deliver critical rule changes
- We carried out more than 2,600 Settlement Runs
- We helped 48 companies (including 2 Virtual Lead Parties) enter the market and register for BSC roles
- We processed more than 3.3 million Energy Contract Volume Notifications (ECVNs) for use in Settlement
More information about the highlights
- Elexon Kinnect platform
- The Insights Solution
- Modification P375 ‘Metering behind the Boundary Point’
- Modification P376 ‘Utilising a Baselining Methodology to set Physical Notifications’
- Disability Confident employer scheme
- Mental Health at Work Commitment