Transmission 16 - Behind the Balancing and Settlement Code with Aditi Tulpule (Legal Counsel @ Elexon)
May 3, 2022
Aditi Tulpule, Legal Counsel at Elexon, sheds light on the intricacies of the Balancing and Settlement Code, crucial for electricity trading in Great Britain. She discusses the pivotal role of data transparency in today's decentralized energy landscape and the importance of collaboration for market innovation. Tulpule also addresses recent regulatory changes affecting energy storage, the significance of inclusivity in market modifications, and the impact of Brexit on cross-border balancing efforts. Tune in for insights on how Elexon navigates these complex challenges!
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Electricity's Unique Balancing Challenge
- Electricity can't be stored like gas which makes balancing supply and demand vital from second to second.
- Increasing renewables and electrification have made demand and supply predictions much more uncertain, raising imbalance risks.
Elexon's Enforcement Role
- Elexon holds market participants accountable when their forecasted supply or demand doesn’t match actual performance.
- This accountability encourages accurate forecasting and maintains market credibility for consumers' benefit.
How to Change the BSC
- Anyone interested can propose modifications to the Balancing and Settlement Code (BSC) via a formal process.
- Participate in open work groups and consultations to influence market rules and raise concerns.