Statement on our commitment to the Electricity Balancing Significant Code Review reforms
Correspondence and other
Publication date
Industry sector
Generation and Wholesale Market
In this letter we reiterate our strong commitment to the package of reforms resulting from the Electricity Balancing Significant Code Review (EBSCR). These changes to the cash-out arrangements are vital for ensuring the electricity market operates efficiently in the interest of consumers. They have been informed and tested by rigorous analysis and extensive stakeholder engagement over a three year period.
We strongly urge the industry to fully consider and acknowledge the significant analysis and consultation that has been conducted during the EBSCR in order to ensure that P305 is progressed in an efficient and expeditious manner. We also strongly advise market participants to fully account for the potential impact of the EBSCR reforms on their businesses now, particularly those bidding into the Capacity Market auctions in December 2014.