P510 Balancing and Settlement Code (BSC) urgency decision
- Publication type:
- Code modification
- Publication date:
- Topic:
- Energy codes,
- Electricity generation
- Subtopic:
- Balancing and settlement code (BSC),
- Wholesale markets
Outcome of request for an urgent review of proposed changes to Balancing and Settlement Code, P510 Introducing Direct Compensation for Virtual Trading Party actions in the Wholesale Market.
Details of outcome
We have decided to reject urgency for Balancing and Settlement Code (BSC) modification proposal P510.
Code modification description
P510 was raised by Flexitricity on 5 March 2026. P510 proposes replacing the existing mutualised compensation arrangements introduced under P415 with direct compensation.
At the BSC Panel on 12 March, Flexitricity requested urgency in light of information showing that there has been a recent increase in the volume and cost of the P415 mutualised compensation fund. Related code modifications P509 and P511 also requested urgency on similar grounds.
The BSC Panel agreed by majority to recommend to Ofgem that P510 should be progressed as an urgent modification proposal.
We have considered P510 alongside the related urgency requests for P509 and P511. We have decided to reject the request for urgency for P510. This letter sets out our reasoning.