The Balancing and Settlement Code (BSC) contains the governance arrangements for electricity balancing and settlement in Great Britain.
The energy balancing aspect allows parties to make submissions to National Grid to either buy or sell electricity into/out of the market at close to real time in order to keep the system from moving too far out of phase.
The settlement aspect relates to monitoring and metering the actual positions of generators and suppliers (and interconnectors) against their contracted positions and settling imbalances when actual delivery or offtake does not match contractual positions.
If you wish to discuss whether you need to be a party to this code and, if so, how to become one, please contact Elexon - link opens in a new browser window.
Details of modifications can be found on the Ofgem website.