How is electricity traded? And what is 'imbalance settlement'? The Balancing and Settlement Code, or BSC, is a document outlining the rules of the balancing mechanism and imbalance pricing in Great Britain. In today's episode, Quentin speaks to Aditi Tulpule, Legal Counsel at Elexon - the organisation that manages imbalance pricing and payment. In this episode they discuss:
- A brief history of the BSC, how it works, and why it's integral to the smooth running of the balancing mechanism.
- The importance of data transparency in our newly decentralised, increasingly real-time energy system.
- Why innovation and collaboration are vital when it comes to creating market environments that work for all parties.
- Recent regulatory changes that participants need to be aware of (including where energy storage fits into the 'generation vs. supply' categorisation).
- And, of course, Elexon's role in all of the above.
Find Aditi on LinkedIn: linkedin.com/in/aditi-tulpule-4693448
Elexon is a not-for-profit entity, funded by electricity market participants. It was established to manage the Balancing and Settlement Code. For more information on Elexon, head to: https://www.elexon.co.uk/
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