BSC modification P329: Changes to REMIT Inside Information Reporting

Quorum is actively engaged in the discussions surrounding BSC Code modification P329 as part of the Elexon Workgroup. At its meeting on 18th January, the Workgroup reviewed the findings of the consultation process on the modification, seeking to agree revisions to the processes governing inside information reporting.

Once implemented, P329 will have implications for all Market Participants in terms of inside information reporting and Quorum will enable its clients to remain compliant through the deployment of revisions to its THOR market compliance product.

About P329

BSC modification P329 proposes to align the BSC and BMRS with the REMIT common schemas for inside information web feeds, required by the Agency for the Cooperation of Energy Regulators (ACER). To achieve this, the REMIT inside information data submitted by participants will be required to match the output requirements of ACER. BSC Parties will be ultimately responsible for both accuracy and timeliness of their REMIT messages.

Two options have been tabled for the delivery of the modification. Option one, which would see REMIT submission profiling included in an ACER compliant REMIT feed delivered via MODIS, is widely supported by Market Participants. Option two, to remove MODIS as an interface for REMIT (but to retain it for ETR) has little support from Market Participants. In either case, a change to the BMRS interface will be required to allow profiled data to pass through to ACER. And, regardless of the option selected, BMRS data will continue to be accessible to Market Participants via the Elexon API.

The proposed implementation date for P329 is 23rd February 2017, while ACER expects to receive web feeds from Market Participants from 7th July 2016. As a consequence, Market Participants should consider the need to make interim arrangements for the provision of data to ACER from their own websites.

Interim Options

During the period from July 2016 to February 2017, Market Participants can provide their own web feed, utilising the new XML structure. However, it should be borne in mind that if submitted to the BMRS the new XML structure will be rejected. Therefore Market Participants may need to continue to make BMRS submissions using the established XML structure. How Market Participants should manage submissions during this interim period remains unclear and it is hoped that Elexon will provide guidance in due course.

Quorum understands that it is imperative for its clients to remain compliant in terms of Urgent Market Messages and will continue to monitor the situation, providing further information once requirements for interim submissions are more fully understood.

Modification Milestones

An assessment report on modification P329 is currently in development and is scheduled for presentation to the BSC Panel on 11th February 2016. Thereafter the report phase consultation will run until 4th March. We would encourage all Market Participants to engage with this process to ensure that their views are taken into account. On close of the consultation, a modification report will be drafted, with publication on 11th March. At this point Quorum will review the findings of the consultation and publish further information regarding the development of THOR in light of the content of the modification report.

Full details of this modification are available at the Elexon website.

For more information about THOR click here or call John Sherban on 01740 625 195.