HomeRulebook HomeBalancing and Settlement CodeGuidance NotesVirtual Lead PartyVirtual Lead Party V 3 0
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CONTENTS

  • Introduction
  • Market & Registration Process
    • 0.1 Virtual Lead Party (VLP) – Entering the Market
    • 0.2 CVA Market Entry
      • Accession
      • Appoint Authorised Signatories
      • Order Communications Line
      • CVA Qualification testing
      • Funds Accession
      • Nominate operational contracts
      • Register Party Role
  • SVA Qualification
    • 0.1 Planning meeting
    • 0.2 Completion/submission of the SAD
    • 0.3 PAB Approval
  • Registration of Secondary BMUs
  • MSID Pair Allocation – P0278
    • 0.1 Completing the MSID Pair Allocation template
  • Lifecycle of the trading day & how we calculate Settlement for VLPs
    • 0.1 Imbalance Settlements for VLPs
    • 0.2 Data flows
    • 0.3 Trading charges
  • FAQs
    • 0.1 How can you participate in TERRE?
      • 1. A Virtual Lead Party (VLP) may register Secondary BM Units for the purposes of bidding into the TERRE product. One function of Secondary BM Units is to allow Virtual Lead Parties to aggregate a number of sites across multiple Suppliers in order to provide balancing services. Therefore, Secondary BM Units may be a single site, or a collection of sites within the same GSP Group whereby the minimum generation level exceeds 1MW. Secondary BM Units will also be able to be bid into the Balancing Mechanism by the VLP.
      • 2. A Supplier may register Additional BM Units for the purposes of bidding into the TERRE product, alongside bidding into the BM as per the current arrangements. Further, current arrangements within the BSC allow a Supplier to aggregate a number of sites, within an Additional BM Unit, so long as these sites are all within that Supplier’s portfolio. This is commonly known as a Supplier aggregator function.
      • 3. A Trading Party that is not a Supplier may use its existing BM Units for the purposes of bidding into the TERRE product, alongside bidding into the Balancing Mechanism as per the current arrangements. However, a Trading Party that is not a Supplier cannot aggregate sites. Should a Trading Party that is not a Supplier wish to aggregate sites, they would have to register as a VLP.
    • NaN.1 Can other BSC parties have aggregated Secondary BMUs?
    • 0.1 Can you register in multiple roles?
    • 0.2 Where can you find a list of all the charges VLP face?
    • 0.3 Can VLPs register assets on behalf of a third party (i.e. a client’s assets)?
    • 0.4 Can VLPs use a trading agent to participate in BM and TERRE?
    • 0.5 What are the penalties for over and under delivery in TERRE, and how does this compare to those in the BM?
    • 0.6 Is there a limit to the size in MW of secondary BMUs?
    • 0.7 In the case the BMU is larger than 50MW or 100MW, are there any additional requirements on the BMU (metering etc.)?
    • 0.8 What data does a VLP need to send to Elexon for a Secondary BMU on a daily basis?
    • 0.9 When will relevant data be published?
      • 1. Following Gate Closure for each auction period, National Grid will send details of Replacement Reserve Bids to BMRA, who will publish them on the BMRS. The legal text allows up to fifteen minutes for National Grid to provide this data.
      • 2. By thirty minutes after Gate Closure for each auction period, National Grid will send the results of the auction (as received from the LIBRA platform) to BMRA, who will publish them on the BMRS. These results include price and MW level data for all the Replacement Reserve Activations issued to GB balancing service providers; the Level of GB Need Met; and flows scheduled by LIBRA on Interconnectors.
      • 3. BMRA will also include the results of the auction in the indicative imbalance prices, published (as currently) within 45 minutes of the end of the Settlement Period
    • NaN.1 Can a VLP setup MVRN Authorisations for a Secondary BMU?
    • 0.1 What if an overlap occurs when submitting MSID Pairs?
  • Other considerations
    • 0.1 Other Codes
  • Need more information?
  • Relevant Documents
  • Further Information

Virtual Lead Party V3.0

Effective From Date:27/01/2021
Status:SUPERSEDED
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