P504 Balancing and Settlement Code (BSC) changes
- Publication type:
- Code modification
- Publication date:
- Topic:
- Energy codes
- Subtopic:
- Balancing and settlement code (BSC)
Outcome of proposed changes to Balancing and Settlement Code, P504 Inclusion of Virtual Trading Parties as Performance Assurance Parties.
Details of outcome
We have decided to approve Balancing and Settlement Code (BSC) modification proposal P504. This will add Virtual Trading Parties to the list of performance assurance parties and will allow Elexon to apply relevant performance assurance techniques to them.
Start date
26 February 2026.
Code modification description
P504 was raised by the BSC Panel on behalf of Elexon’s performance assurance board on 13 November 2025. Currently, Virtual Trading Parties (VTPs) are not included within the list of BSC performance assurance parties, which means they are not in scope of the performance assurance framework. This inhibits Elexon’s ability to carry out performance assurance techniques on them.
At Elexon’s performance assurance board meeting in July 2025, it was decided that VTPs should be recognised as a performance assurance party. P504 therefore proposes adding VTPs to the list of performance assurance parties.