Synopsis: | The Funds Administration Agent is responsible for effecting the transfer of funds between Payment Parties for trades made in the Balancing Mechanism and for imbalance settlement. This document describes the detailed requirements of this service. |
Version: | |
Effective Date: | |
Prepared by: | ELEXON Design Authority |
Effective Date | Version | Details of Change | Approval Reference |
---|---|---|---|
03/06/2010 | 24.0 | Document modified and rebadged for implementation of P249 |
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23/02/2012 | 25.0 | February 2012 Release, CP1352 | ISG129/02 |
25/06/2015 | 26.0 | June 2015 Release, Modification P307 | ISG169/05 |
29/03/2019 | 27.0 | P369 – 29 March 2019 Standalone Release | P285/12 |
11/12/2019 | 28.0 | 11 December 2019 Standalone Release – CP1517 | ISG220/01 ISG222/03 |
27/02/2020 | 29.0 | February 2020 Release, P385 Self-Governance | P296/06 |
01/10/24 | 30.0 | 01 October 2024 Non-Standard Release, ORD009 | Directed by Secretary of State |
07/11/24 | 31.0 | November 2024 Release | Panel 339/03 |
08/04/2025 | 32.0 | April 2025 Release, P466 |
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Intellectual Property Rights and Copyright The copyright and other intellectual property rights in this document are vested in ELEXON or appear with the consent of the copyright owner. These materials are made available for you for the purposes of your participation in the electricity industry. If you have an interest in the electricity industry, you may view, download, copy, distribute, modify, transmit, publish, sell or create derivative works (in whatever format) from this document or in other cases use for personal academic or other non-commercial purposes. All copyright and other proprietary notices contained in the document must be retained on any copy you make. All other rights of the copyright owner not expressly dealt with above are reserved. No representation, warranty or guarantee is made that the information in this document is accurate or complete. While care is taken in the collection and provision of this information, ELEXON Limited shall not be liable for any errors, omissions, misstatements or mistakes in any information or damages resulting from the use of this information or action taken in reliance on it. |
Invoices (combining all Trading Charges, Default charges and Ad-Hoc Charges in a given Invoice Period),and supporting documentation detailing the results of each day’s settlement calculations;
Production and maintenance of the Payment Calendar;
Transfer of funds between Payment Parties as per the agreed Payment Calendar, subject to the application of the Invoice Threshold Limit or time threshold; and
Implementation and management of the credit cover policy of the BSCCo as applied to Trading Parties.
Name | Description |
Service Description | Service Description for the Funds Administration Agent |
BSC Business Model | BSC Business Model |
Name | Description |
FAA Interface Definition & Design Part 1 | Interface Definition for the FAA Service |
FAA Interface Definition & Design Part 2 | Interface Definition for the FAA Service |
NETA Interface Definition & Design Part 1 | Interface Definition and Design, Part 1 – Interfaces with BSC Parties and their Agents |
NETA Interface Definition & Design Part 2 | Interface Definition and Design, Part 2 – Interfaces to other Service Providers |
SAA URS | Settlement Administration Agent User Requirement Specification |
Requirement ID: FAA-R001 as amended by MP61 and P214 | Status: M | Title: Produce Draft Payment Calendar | Source: FAA SD 4.3.2 RETA Sch 4 SAA SD 2.8, AI SAA BPM 3.2, 4.27 |
Mechanism: Manual User driven process | Frequency: Annually | FAA Interface Ref: FAA-I018 | |
Requirement:
A draft Payment Calendar will be produced in December each year which details the Settlement Runs to be processed during the payment period 1st April to 31st March (inclusive) Calendar parameters will be entered into the system including the following:
The system will produce a draft payment calendar based on the entered parameters. A Settlement Calendar will be produced as required in consultation with BSCCo for Post-Final Settlement Runs. |
Requirement ID: FAA-R002 | Status: M | Title: Manage Credit Cover | Source: FAA SD 5.1 RETA Sch 4 | |
Mechanism: Manual User entered standing data | Frequency: On-going as applicable | FAA Interface Ref: FAA-I027 FAA-I031 | ||
Requirement:
The system will store credit cover provision details for each BSC Party. Credit cover provision will be permissible by either, or both, of the following means:
Full details of allowable means of provision will be provided in the Credit Policy.
The FAA will monitor the credit ratings for each Bank issuing a Letter of Credit on behalf of a BSC Party. This exercise will be carried out off-line utilising the FAA’s Bloomberg software.
The FAA will monitor the expiry dates of the Letters of Credit and not later than 10 working days before any outstanding Letter of Credit is due to expire, procure from the BSC Trader appropriate credit cover for a further period of not less than 12 months.
The FAA will, on receipt of notification from BSCCo that a BSC Party’s credit cover has been reduced, amend that Party’s credit cover provision details accordingly. |
Requirement ID: FAA-R003 as amended by CRs 033 & 038 | Status: M | Title: Calculate Energy Credit Cover | Source: FAA SD 5.2 RETA Sch 4 | |
Mechanism: Manual User entered parameters | Frequency: On-going as applicable | FAA Interface Ref: FAA-I012 FAA-I027 FAA-I031 | ||
Requirement:
The system will calculate the energy credit cover (ECC) for each BSC Party utilising the following variables:
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Requirement ID: FAA-R004 as amended by CR 033 | Status: M | Title: Establish Credit Cover Provided | Source: FAA SD 5.3 RETA Sch 4 | |
Mechanism: Manual ‘off-line’ user process | Frequency: On-going as applicable | FAA Interface Ref: FAA-I004 FAA-I013 FAA-I027 FAA-I019 FAA-I031 | ||
Requirement:
The FAA will check that the Bank’s credit rating is acceptable, that the Letter of Credit details are correct or that the cash deposit provided is as requested. |
Requirement ID: FAA-R005 | Status: M | Title: Monitor Credit Cover Provided | Source: FAA SD 5.5 RETA Sch 4 | |
Mechanism: Manual Telephone and confirmatory letter | Frequency: On-going as applicable | FAA Interface Ref: FAA-I013 FAA-I031 | ||
Requirement:
The FAA will notify the BSCCo and the BSC Party if the credit cover provided ceases to comply with the BSCCo credit policy. |
Requirement ID: FAA-R006 as amended by CR 033, CP 519 and P142 | Status: M | Title: Recalculate ECC | Source: FAA SD 5.6 FAA SD 5.3.1 RETA Sch 4 | |
Mechanism: Manual User entered variables User driven calculation process | Frequency: On-going as applicable | FAA Interface Ref: FAA-I012 FAA-I013 FAA-I027 FAA-I031 FAA-I035 FAA-I036 | ||
Requirement:
If any of the values utilised to calculate a BSC Party’s Energy Credit Cover (ECC) alter, the revised values are used to recalculate the ECC. Information required to recalculate Energy Credit Cover is as follows:
If the credit cover in place covers the new value of ECC, the values are accepted and no further action is required. If the credit cover in place is not sufficient, a Credit Call request is made to the BSC Party requesting the provision of additional credit cover or the resubmission of Credit Limit values.
If a Minimum Eligible Amount Notification for a Trading Party is received from the ECVAA the Minimum Eligible Amount Data will be stored. In the event of a request being received from the Party within 2 business days to reduce Credit Cover, the ECC will be recalculated as either the Minimum Eligible Amount or a higher amount as advised by the Trading Party.
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Requirement ID: FAA-R007 | Status: M | Title: Declare Defaults | Source: FAA SD 6.1 RETA Sch 4 | |
Mechanism: Manual Telephone and confirmatory letter | Frequency: On-going as applicable
| FAA Interface Ref: FAA-I007 FAA-I013 FAA-I019 FAA-I027 FAA-I031 | ||
Requirement:
If the credit cover in place does not meet the Required Credit Cover, the FAA will inform the BSCCo that the BSC Party is in Credit Default. If the BSC Party has failed to make a payment that has been notified in accordance with the Balancing and Settlement Code, the FAA will inform the BSCCo that the BSC Party is in Payment Default.
Information provided to the BSCCo will include:
The FAA will take the appropriate action, which may involve demanding payment of any credit or payment default amounts by drawing on a cash deposit or a Letter of Credit.
With specific regard to payment defaults, the FAA will make a judgmental decision as to whether the non-payment is accidental or wilful. A wilful non-payment will be deemed a payment default and the appropriate action taken.
Utilising the Borrowing Account will cover the shortfall resulting from an accidental non-payment. If an accidental default is outstanding for more than three business days, it will be deemed a payment default. |
Requirement ID: FAA-R008 | Status: M | Title: Utilise Credit Cover | Source: FAA SD 6.1 RETA Sch 4 | |
Mechanism: Manual User driven process | Frequency: On-going as applicable | FAA Interface Ref: FAA-I007 FAA-I013 FAA-I031 FAA-R014 FAA-R015 FAA-R016 FAA-R017 FAA-R045 | ||
Requirement:
If the BSC Party is in Credit or Payment Default, the FAA will draw on the credit cover provided, in line with the BSCCo Credit Policy.
This will include taking one or more of the following actions:
The FAA will notify the BSCCo of any actions taken.
The rules regarding the use of credit cover will be defined in the Credit Policy. |
Requirement ID: FAA-R009 | Status: M | Title: Maintain BSCCo Bank Accounts | Source: FAA SD 6.1 RETA Sch 4 P249 | |
Mechanism: Manual User entered parameters | Frequency: On-going | FAA Interface Ref: FAA-I008 FAA-I009 FAA-R014 FAA-R015 FAA-R016 FAA-R017 FAA-R045 FAA-F076 | ||
Requirement:
The current Clearing account, Reserve account and Collection accounts arrangements will remain in place. Barclays will act as the BSCCo Clearing Banker and as such will manage the clearing and reserve accounts on behalf of the FAA. Collection Accounts will be held at the following banks:
The FAA will arrange for BSC debtor payments to be paid into the Collection Account. Once funds due have been received, the FAA will instruct the Collection Bank to transfer the monies to the BSC Clearing Account. BSC creditor payments will then be made to the creditor BSC Parties from the Clearing Account.
Mandates will be signed with the bank detailing authorised account signatories. All instructions to the bank will be made in accordance with the mandate.
The FAA shall also establish on behalf of the BSC Clearer the means by which to facilitate and manage the transfer of Reserve Account monies between the Reserve Account and Investment Accounts. |
Requirement ID: FAA-R010 | Status: M | Title: Manage Banking Communication Links | Source: FAA SD 8.3 RETA Sch 4 | |
Mechanism: Manual User driven process | Frequency: On-going | FAA Interface Ref: FAA-I008 FAA-I009 FAA-I016 FAA-I017 | ||
Requirement:
The Barclays CHAPS and businessmaster software will be utilised to monitor incoming payments, collect direct debits and make payments to BSC Parties. |
Requirement ID: FAA-R011 as amended by CR 035, MP61 and P214 | Status: M | Title: Calculate Payments | Source: FAA SD 9 RETA Sch 4 | |
Mechanism: Manual User driven system process | Frequency: Daily (Per calendar Payment Date) | FAA Interface Ref: FAA-I022 FAA-I023 | ||
Requirement: Data will be sent to the FAA by the SAA as per the approved Payment Calendar. The Initial Settlement Run details for each Settlement Date will be provided in the form of a ‘debits and credits’ data file from the SAA.
The details included in this report will be an amount per charge type per Payment Party identifier.
The reconciliation data will be provided to the FAA as ‘revised debits and credits’. This data file will contain revised amounts per charge type per Payment Party identifier.
The Post Final Data will be provided to the FAA as a debits and credits report from the SAA.
The Calculate Payments process will include the following:
Details stored on the system relating to the creation of payments will include the following:
When applicable Extra-Settlement Determination (‘ESD’) data will be provided by the BSCCo in the form of a list, the BSCCo will provide the FAA with a further instruction to recover the ESD amount and calculate interest payable. If, for any reason, the billing data is unavailable, the BSCCo may instruct the FAA to postpone the billing run until the information is available. Once the data is provided to the FAA the billing amounts will be calculated and advised to the BSC traders for payment/receipt. Interest at the BSC Banker’s Base Rate will be levied on the payments and receipts from the date on which payment was originally scheduled up to (but not including) the new calendar Payment Date. |
Requirement ID: FAA-R013 as amended by CR 044, MP61 and P214 | Status: M | Title: Produce Statements | Source: FAA SD 10 RETA Sch 4 | |
Mechanism: Manual User driven system process | Frequency: Daily (per calendar Payment Date) | FAA Interface Ref: FAA-I002
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Requirement:
The statements will contain the breakdown of the Trading Charges for Initial Settlement Runs, Reconciliation Settlement Runs and Post-Final Settlement Runs detailed on the Invoice. A breakdown by charge type will be provided for both the current Reconciliation Settlement Run and the immediately preceding Settlement Run. Detailed interest calculations will be required to support the summary interest lines on the Invoice.
Statements will be available in both Portable Document Format and ASCII pipe delimited format.
BSCCo costs are not included as a charge on these statements but are invoiced separately.
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Requirement ID: FAA-R014 | Status: M | Title: Produce Bank Reports | Source: FAA SD 11.1 RETA Sch 4 | |
Mechanism: Manual User driven system process | Frequency: Daily (per payment date) | FAA Interface Ref: FAA-I008 FAA-I009 | ||
Requirement:
The system will produce, for a specified payment date, a report detailing all payments due from BSC Parties for the Collection Banks and all amounts payable to the BSC Parties from the Clearing Bank.
The Collection Bank report will contain a separate section for the Collection Bank. Details will include the following:
The Clearing Account report will include the following details:
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Requirement ID: FAA-R015 as amended by CRs 037 and 070 | Status: M | Title: Manage Non-Payments | Source: FAA SD 11.2 RETA Sch 4 | |
Mechanism: Manual User driven process | Frequency: On-going as applicable | FAA Interface Ref: FAA-I008 FAA-I009 FAA-I017 FAA-I035 | ||
Requirement:
Non-payments and any resulting action taken by the FAA will be detailed off-line, unless the action taken is to Scaledown the shortfall, when a system process to calculate the Scaledown amounts will be initiated.
If a payment is not received on the payment date, the FAA will take the relevant action as per the BSCCo Credit Policy and will inform BSCCo of the action taken. This may include one or more of the following:
The FAA will consult with the BSCCo re utilising credit cover or scaling down the creditor payments. Where appropriate and as instructed by BSCCo the FAA will go straight to scaledown. The detail of this will be included in the BSCP301. The FAA shall inform BSCCo if a Non-Paying Debtor has failed to pay the Amount in Default on the second Business Day after the Affected Date or an amount in respect of interest and banking charges notified on or before the time of payment. |
Requirement ID: FAA-R016 | Status: M | Title: Manage Excess Payments | Source: FAA SD 11.3 RETA Sch 4 | |
Mechanism: Manual ‘Off-line’ process | Frequency: On-going as applicable
| FAA Interface Ref: FAA-I008 FAA-I009 FAA-I016 | ||
Requirement:
Reasonable endeavours will be used to ascertain the nature of the excess payment, to calculate the entitlement to such payment and to instruct the BSC banker by 16.00 hours on the Payment Date to credit the reserve account (or any such account as authorised by BSCCo and agreed by the Payment Party) with the excess amount.
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Requirement ID: FAA-R017 | Status: M | Title: Initiate Payments to Creditors | Source: FAA SD 11.4 RETA Sch 4 | |
Mechanism: Manual User driven process | Frequency: Daily (per payment date) | FAA Interface Ref: FAA-I008 FAA-I009 FAA-I016 | ||
Requirement:
The system will produce a report detailing all amounts payable to BSC creditors for a specified payment date. The report details will be manually input into the FAA banking software as a CHAPS (Clearing House Automated Payment System) payment if the amount due is greater than £1000 or as a BACS (Bankers Automated Clearing System) payment if the amount due is less than £1000. The BSC Party creditor payments will be transferred utilising the Barclays software.
Details included in this report will include:
The timing of transferring the creditor amounts is dependent on receipt of funds from the Collection Bank. However, the FAA will endeavour to ensure that payments to BSC creditors are made as soon as possible, and in any event, no later than 13:00.
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Requirement ID: FAA-R018 as amended by P214 | Status: M | Title: Manage Short-Term Borrowing Arrangements | Source: FAA SD 11.5 RETA Sch 4 | |
Mechanism: Manual ‘Off-line’ process | Frequency: On-going as applicable
| FAA Interface Ref: NA | ||
Requirement:
The FAA will manage the short term borrowing facility. It is envisaged that this will take the form of a Borrowing Account facility from the BSC Clearing Banker, Barclays Bank Plc.
If a Payment Party fails to make a payment on the due date, or does not make a payment on the due date because the payments are greater than or equal to the positive Invoice Threshold Limit, or the payments are as negative or more negative than the negative Invoice Threshold Limit (or the due date is less than the last Payment Date before the next Quarter Date) for the Invoice Period, the FAA will arrange to transfer the Shortfall Amount from the Borrowing Account to the Clearing Account in accordance with the BSCCo credit policy. Once funds have been received from the Payment Party, the amount will be transferred from the Clearing Account to the Borrowing Account.
Interest on the ‘loan’ will be calculated in accordance with the BSCCo credit policy and billed to the Payment Party.
Any draw downs on or repayments to this facility will be recorded off line. The calculation and recharging of the interest accrued on the Borrowing Account will be recorded outside of the FTS system. Any excess/shortfall resulting from interest payments/charges will be settled using a separate process outside of the FTS system.
If necessary and if the FAA is satisfied that any Cash Cover provided by the Non-paying BSC Debtor will be paid into the Clearing Account in time to ensure that Cash Cover will be applied to the Amount in Default by close of business on the due date, the FAA will debit the Reserve Account and credit the Clearing Account with a sum being the lesser of the Amount in Default and that Cash Cover.
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Requirement ID: FAA-R019 | Status: M | Title: Maintain Bank Contract Standing Data | Source: FAA SD 11.6 RETA Sch 4 | |
Mechanism:
System via API | Frequency: BSC Party Registration and on-going as applicable | FAA Interface Ref: FAA-I014 FAA-I015 | ||
Requirement:
The system will store details of BSC Party bank details as follows:
The details will be received via an API into the system when the BSC Party provides trading charges details. |
Requirement ID: FAA-R021 as amended by P214 | Status: M | Title: Maintain BSC Party Standing Data | Source: FAA SD 6 | |
Mechanism: Manual User entered parameters System via API | Frequency: On-going as applicable | FAA Interface Ref: FAA-I015 FAA-I025 | ||
Requirement:
The system will hold details for each BSC Party that is a Payment Party. These details will be provided/updated by the BSC Parties on the form BSCP301/4 Funds Accession Form, and will be received into the system via an API from PMP.
Details stored in the system received via an API will include the following:
Threshold override flag – indicates that the BSC Party as independent of any Invoice Threshold Limit or time threshold.
The system will also store the Credit Cover formula variables for each BSC Party
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Requirement ID: FAA-R022 | Status: M | Title: Maintain Base Rates | Source: NA | |
Mechanism: Manual User entered variables | Frequency: On-going as applicable | FAA Interface Ref: FAA I028 | ||
Requirement:
The system will store historic and current Clearing Bank Base Rate information. Information stored will include the following:
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Requirement ID: FAA-R023 | Status: M | Title: Maintain VAT Information | Source: FAA SD 6.8 | |
Mechanism: System via API | Frequency: On-going as applicable | FAA Interface Ref: FAA I029 | ||
Requirement:
The system will maintain only the VAT codes currently assigned to BSC parties (historic VAT codes will not be maintained). Information stored will include the following;
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Requirement ID: FAA-R033 as amended by P214 | Status: M | Title: Produce Quarterly Statements | Source: FAA SD14 | |
Mechanism: Manual User driven system process | Frequency: Quarterly and ad-hoc as requested | FAA Interface Ref: FAA-I010 | ||
Requirement:
Quarterly Statements will be provided to H.M. Customs & Excise, detailing the following for each BSC Party:
The report can be produced in hard or soft copy format and the following variables can be entered:
1. BSC billing 2. All
The Quarterly Statements will also be provided to the BSC Parties and confirmation requested as to the accuracy of the details provided.
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Requirement ID: FAA-CP1078 Variation 068 | Status: M | Title: Produce BSCCo Quarterly VAT Statements | Source: FAA SD 6.7 | |
Mechanism: Manual User driven system process | Frequency: Quarterly and ad-hoc as requested | FAA Interface Ref: FAA – I034 | ||
Requirement:
Quarterly VAT Statements will be provided to BSCCo detailing the following for each VAT code:
The report can be run as:
1. BSC Billing 2. Disputes 3. Defaults 4. All
The report can be produced in hard copy. A soft copy will also be made available in the form of a ‘tab delimited data file’ suitable for loading to MS-Excel
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Requirement ID: CR 039 | Status: M | Title: Monitor Bank Credit Ratings | Source: BSC Section M 2.2.1 (b) | |
Mechanism: Manual FAA Bloomberg Software | Frequency: Daily | FAA Interface Ref: FAA-I013 FAA-I027 FAA-I031 | ||
Requirement:
In order to determine the continued validity of Letters of Credit lodged by BSC Parties, the FAA will monitor the credit ratings of the issuing banks daily.
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Requirement ID: CR 034 | Status: M | Title: Calculate Reserve Account Interest | Source: BSC Section N 4.6.4 | |
Mechanism: Manual Excel Spreadsheet | Frequency: Ad-hoc | FAA Interface Ref: FAA-I028 | ||
Requirement:
The FAA will calculate interest on amounts held in the Reserve Account. This includes the input and verification of interest rates and the calculation of each BSC Party’s proportion.
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Requirement ID: FAA-R077 | Status: M | Title: Establish Outstanding Liabilities | Source: FAA SD 5.3 | |
Mechanism: | Frequency: As requested | FAA Interface Ref: FAA-I0xx | ||
Requirement:
On receipt of notification from the BSCCo that a BSC Party has either:
The FAA will establish whether a BSC Party has paid all Trading Charges due on the Payment Date for the last Settlement Day on which it traded as well as all previously accrued Trading Charges.
The FAA will issue a report to the BSCCo by 17:00 on the 2nd full Business Day following receipt containing:
In the case of a withdrawing BSC Party, the FAA shall re-establish the above information as at 17:00 hours on 2 Business Days before the Withdrawal Date specified in the original notification and issue a report to BSCCo as soon as possible thereafter.
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Requirement ID: FAA-R078 | Status: M | Title: Maintain Tax Quarters | Source: NA | |
Mechanism: Manual User entered variables | Frequency: On-going as applicable
| FAA Interface Ref: NA | ||
Requirement:
The system will store the last Payment Date before each Quarter Date. Information stored will include the following:
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Requirement ID: FAA-R079 | Status: M | Title: Generate Invoices | Source: NA | |
Mechanism: Manual User driven system process | Frequency: Following threshold breach, or as manually triggered | FAA Interface Ref: FAA-I038 | ||
Requirement:
Backing Sheet data will remain within the system until an Invoice Threshold Limit is breached, or the system date is greater than or equal to the most recent working date associated with a Quarter Date.
The BSCCo and Payment Parties will receive an Invoice. An Invoice is a combination of Trading Charges, Default charges and Ad-Hoc Charges.
For each type of Charge, details for that charge will include the following:
The Invoice will also show
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Requirement ID: FAA-R080 | Status: M | Title: Produce Default Statements | Source: NA | |
Mechanism: Manual User driven system process | Frequency: Following threshold breach, or as manually triggered | FAA Interface Ref: FAA-I039 | ||
Requirement:
The statements will contain the breakdown of Default charges detailed on the Invoice. A breakdown by Default will be provided.
Default statements will be available in Portable Document Format.
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Requirement ID: FAA-R082 | Status: M | Title: Monitor Thresholds | Source: N/A | |
Mechanism: Manual User driven system process | Frequency: Daily (per Payment Date) | FAA Interface Ref: N/A | ||
Requirement:
If immediate Invoices are not required, the following tests are applied to each Payment Party that has backing sheets not already included on a Invoice:
If any test is passed, an Invoice is generated for the Payment Party and Payment Date. |
Requirement ID: FAA-R083 | Status: M | Title: Produce Ad-Hoc Statements | Source: NA | |
Mechanism: Manual User driven system process | Frequency: When an Ad-Hoc Charge occurs, or following threshold breach, or as manually triggered | FAA Interface Ref: N/A | ||
Requirement:
The Ad-Hoc statements will contain the breakdown of Ad-Hoc Charges detailed on the Invoice. A breakdown by Ad-Hoc Charge will be provided.
Ad-Hoc statements will be available in Portable Document Format.
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Requirement ID: FAA-R034 as amended by P214 | Status: M | Title: Issue Draft Payment Calendar | Source: FAA SD 4.3.2 RETA Sch 4 SAA SD 2.8, AI SAA BPM 3.2, 4.27 | |
Mechanism: Manual Data File (csv) | Frequency: Annually
| FAA Interface Ref: FAA-I018 | ||
Requirement:
The draft Payment Calendar will be issued to the BSCCo. A CSV data file will be sent in December of each year, and accompanied with details of the Payment Dates associated with the next four Quarter Dates.
The draft Payment Calendar will include the following information:
The BSCCo will liaise with the SAA, CDCA etc and provide authorisation that the Payment Calendar is acceptable. |
Requirement ID: FAA-R064 | Status: M | Title: Obtain Approval of Payment Calendar | Source: FAA SD 4.3.2 Reta Sch 4 SAA SD 2.8, A1 SAA BPM: 3.2,4.27 | |
Mechanism: Manual- Fax/Letter/E-mail | Frequency: Annually
| FAA Interface Ref: FAA-I021 | ||
Requirement:
Approval of the draft payment calendar issued by the FAA (interface requirement ‘Issue Draft Payment Calendar’, FAA-R034) by an Authorised signatory from BSCCo
Information will include:
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Requirement ID: FAA-R035 as amended by P214 | Status: M | Title: Issue Agreed Payment Calendar | Source: FAA SD 4.3.2 RETA Sch 4 SAA SD 2.8, AI SAA BPM 3.2, 4.27 | |
Mechanism: Manual Data File (csv) and hard copy post | Frequency: Annually | FAA Interface Ref: FAA-I006 | ||
Requirement: Once the BSCCo has approved the draft calendar, an approved Payment Calendar data file will be produced from the system and dispatched to all Payment Parties and the BSCCo, and accompanied with details of the Payment Dates associated with the next four Quarter Dates. The agreed Payment Calendar will detail the following:
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Requirement ID: FAA-R070 as amended by CR 038 | Status: M | Title: Receive Credit Policy | Source: FAA SD 5.1 FAA SD A1 RETA SCH 4 | |
Mechanism: Manual Post | Frequency: Annually and ad hoc as appropriate | FAA Interface Ref: FAA-I031 | ||
Requirement:
The BSCCo will issue the Credit Policy to the FAA. This document will define rules for Credit Cover requirements and on-going credit monitoring, credit calls and default proceedings.
The document will also contain parameters utilised by the FAA to calculate ECC.
Parameters received will include:
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The BSCCo may also, from time to time, issue notification to the FAA of the certain circumstances that require special treatment from the FAA. Such notification may include any BSC Party that has:
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Requirement ID: FAA-R066 | Status: M | Title: Obtain Credit Ratings | Source: FAA SD 5.1.2 RETA SCH 4 | |
Mechanism: Manual FAA Bloomberg Software | Frequency: Ongoing as applicable | FAA Interface Ref: FAA-I027 | ||
Requirement:
The FAA shall utilise the Bloomberg Software in order to check appropriate credit ratings for BSC Parties Banks issuing Letters of Credit. The information entered into the NETA Funds Transfer System will include the following:
The FAA will monitor the Bank credit ratings on an ongoing basis. The information required is:
As defined by Standard & Poors or Moodys Corporation.
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Requirement ID: FAA-R036 as amended by CR 033 | Status: M | Title: Request Credit Cover | Source: FAA SD 5.2 RETA Sch 4 | |
Mechanism: Manual – Letter | Frequency: On-going as applicable | FAA Interface Ref: FAA-I004 | ||
Requirement:
The FAA accept Credit Cover (Cash and/or by Letter(s) of Credit) from BSC Parties. Credit cover may be provided by one or more of the following means:
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Requirement ID: FAA-R072 | Status: M | Title: Issue Credit Call Request | Source: ECVAA SD 5 ECVAA BPM 3.3, 4.17 RETA SCH 4, B, 3.3, FAA 5.3.3 | |
Mechanism: Manual - Letter | Frequency: Ongoing as applicable | FAA Interface Ref: FAA-I005 | ||
Requirement:
Upon the instruction of BSCCo, the FAA will issue a request for additional collateral from a BSC Party who wishes to continue trading past the agreed credit limit as applicable.
The information sent will include:
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Requirement ID: FAA-R037 as amended by CR 033 & CR 067 | Status: M | Title: Issue Acceptance of Credit Limit | Source: FAA SD 5.3 RETA Sch 4 | |
Mechanism: BSC Party- Manual Telephone and confirmatory letter ECVAA-Electronic | Frequency: On-going as applicable | FAA Interface Ref: FAA-I019 | ||
Requirement:
Once credit cover has been provided, the FAA will calculate the Energy Credit Cover (ECC) value. The FAA will inform the ECVAA, BSCCo and the BSC Party that the values of ECC (MWh) have been accepted.
Information sent will include:
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Requirement ID: FAA-R038 as amended by CR 033 | Status: M | Title: Issue Confirmation of ECC | Source: FAA SD 5.3 RETA Sch 4 | |
Mechanism: Manual Telephone and confirmatory letter | Frequency: On-going as applicable | FAA Interface Ref: FAA-I019 | ||
Requirement:
Once credit cover has been provided, the FAA will calculate value for ECC. The FAA will confirm the value of ECC with the ECVAA and the BSC Party.
Information sent will include:
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Requirement ID: FAA-R039 as amended by CR 033 | Status: M | Title: Obtain Credit Cover | Source: FAA SD 5.4 RETA Sch 4 | |
Mechanism: Manual Letter of Credit sent by registered post or courier
Cash deposits received by electronic bank transfer | Frequency: On-going as applicable | FAA Interface Ref: FAA-I013 | ||
Requirement:
The FAA will obtain credit cover. The credit cover may be provided in the form of one or more of the following:
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Requirement ID: FAA- R067 | Status: M | Title: Obtain Base Rate Details | Source: NA | |
Mechanism: Manual Media | Frequency: Ongoing as applicable | FAA Interface Ref: FAA-I028 | ||
Requirement:
The FAA shall obtain details of current and historic Base Rates and will update the NETA Funds Transfer System accordingly.
Notification of changes to the Base Rate will be obtained from media notification.
The information entered into the system is as follows:
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Requirement ID: FAA-R040 as amended by CR 033 | Status: M | Title: Issue Credit Cover Default Notice | Source: FAA SD 6.1 RETA Sch 4 | |
Mechanism: Manual Telephone call by authorised FAA personnel and confirmatory letter | Frequency: On-going as applicable | FAA Interface Ref: FAA-I007 | ||
Requirement: The FAA will notify the BSCCo if Credit Cover is utilised to cover non-payment, a BSC Party thereby in Credit Default. Information provided to the BSCCo will include the following:
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Requirement ID: FAA-R041 | Status: M | Title: Receive ECVAA Exception Report | Source: FAA SD 5.6 RETA Sch 4 | |
Mechanism: Automatic Electronic Network | Frequency: On-going as applicable | FAA Interface Ref: FAA-I024 | ||
Requirement:
The ECVAA will notify the FAA if there has been a problem with any of the information provided by the FAA e.g. if ECVAA has a problem processing the Credit Limit data.
The report will be provided on an ad-hoc exception basis.
Details provided will include:
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Requirement ID: FAA-R042 | Status: M | Title: Obtain BSC Party Bank Details and VAT Details | Source: FAA SD 8.2 RETA Sch 4 | |
Mechanism: Completed Funds Accession Form | Frequency: On-going as applicable | FAA Interface Ref: FAA-I011 FAA-I014 FAA-I015 | ||
Requirement:
The FAA will request that the BSC Party complete a Funds Accession Form (BSCP301/4 (a). This will provide the FAA with the following information.
Any subsequent amendments must be communicated to the FAA on form BSCP301/4(b).
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Requirement ID: FAA-R044 As amended by CR 026, MP61 and P214 | Status: M | Title: Issue Statements | Source: FAA SD 10 RETA Sch 4 | |
Mechanism: Manual Electronic Network | Frequency: Daily (per calendar Payment Date) | FAA Interface Ref: FAA-I002 | ||
Requirement:
The statements provide supporting documentation relating to the Invoice, in particular details of previous Settlement code amounts to enable verification of reconciliation calculations and interest calculations for each interest line detailed on the Trading Charges backing sheet.
The statements will contain the breakdown of the Initial Settlement Run and Reconciliation Settlement Run amounts detailed on the Advice Note, and where applicable the Post Final Settlement Run amount. A breakdown by charge type will be provided for both the current Reconciliation Settlement Run and the immediately preceding run. Detailed interest calculations will be required to support the summary interest lines on the Advice Note.
The statements will be emailed in both Portable Document Format and ASCII pipe delimited format to all Payment Parties.
The details included on the statements will include the following:
1. Settlement Date 2. Settlement code (SF, R1, R2, R3, RF) 3. Calendar Payment Date 4. Charge type 5. Amount (£) 6. Total 7. VAT 8. Total including VAT
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Requirement ID: FAA-R045 as amended by P214 | Status: M | Title: Issue Bank Reports | Source: FAA SD 11.1 RETA SCH 4 | |
Mechanism: Manual
| Frequency: Daily (per Payment Date) | FAA Interface Ref: FAA-I008 FAA-I009 | ||
Requirement:
The system will produce, for a specified Payment Date, a report detailing all payments due from Payment Parties into the Collection Account, and all amounts payable to the Payment Parties from the Clearing Bank.
The Collection Account reports will include the following:
Passwords provided by the Collection Account are written on the Collection Account reports prior to faxing.
The details included in the Clearing Bank report are as follows:
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Requirement ID: FAA-R071 | Status: M | Title: Receive Payment Confirmations | Source: FAA SD 11.7 RETA SCH 4 |
Mechanism: Manual Telephone to authorised FAA personnel Confirmatory reports produced from CHAPS terminal | Frequency: Daily | FAA Interface Ref: FAA-I016 | |
Requirement:
The FAA will receive confirmation from the Collection banks that all funds due for the payment date (as advised by the FAA in the requirement ‘Issue Bank Reports’, FAA-R045) have been received and are available to be transferred to the Clearing account for distribution to creditors.
Information received will include:
Not later than 16:00 hours on the Payment Date the FAA will take such action as is required to determine that all amounts have been credited to each Collection Account on behalf of each BSC Payment Party.
Not later than 16.00 hours the FAA will take such action as required to determine all amounts credited to each Collection Account on such Payment Date have been remitted to the Clearing Account.
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Requirement ID: FAA- R072 | Status: M | Title: Receive Non-receipt Notifications | Source: FAA SD 7 FAA SD 11.2 RETA SCH 4 | |
Mechanism: Manual Telephone to authorised FAA personnel | Frequency: As applicable | FAA Interface Ref: FAA-I017 | ||
Requirement:
The FAA will receive details of any non-payments or any variance in the payments received from the Bank Advice Report, (Requirement ‘Issue Bank Reports’ FAA-R045). The information received will include:
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Requirement ID: FAA-R073 as amended by P214 | Status: M | Title: Issue Payment Default Notice | Source: FAA SD 6.1 RETA SCH 4 | |
Mechanism: Manual Telephone call by authorised FAA personnel and confirmatory letter | Frequency: Ongoing as applicable | FAA Interface Ref: FAA-I007 | ||
Requirement:
The FAA will notify the BSCCo of any payment defaults. A payment default is deemed to have occurred if the Credit Cover provided by the defaulting Payment Party cannot cover any outstanding debt resulting from the non-payment of an Invoice.
The information will include:
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Requirement ID: FAA-R052 as amended by P214 | Status: M | Title: Issue Quarterly Statements | Source: FAA SD 6.0 | |
Mechanism: Manual csv data file and hard copy post | Frequency: Quarterly and ad-hoc as requested | FAA Interface Ref: FAA-I010 | ||
Requirement:
Quarterly Statements will be provided to H.M. Customs & Excise detailing the following for each BSC Party:
The report will be sent to H.M. Customs & Excise in hard and soft copy format. The report variables are as follows:
1. BSC billing 2. All
The Quarterly Statements will also be dispatched to the BSC Parties and confirmation requested as to the accuracy of the details provided.
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Requirement ID: FAA-R052 (CP1078 Variation 068), as amended by P214 | Status: M | Title: Issue VAT Quarterly Statements | Source: NA | |
Mechanism: Manual, tab delimited data file and hard copy by post | Frequency: Quarterly and ad-hoc as requested | FAA Interface Ref: FAA-I034 | ||
Requirement:
Quarterly VAT Statements will be provided to BSCCo detailing the following for each VAT code:
The report can be run as;
1. BSC billing 2. Disputes 3. Defaults 4. All
The report can be produced in hard copy. A soft copy will also be made available in the form of a ‘tab delimited data file’ suitable for loading to MS-Excel
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Requirement ID: FAA-R053 as amended by CR 036 | Status: M | Title: Receive Credits & Debits | Source: FAASD9 RETA SCH 4 | |
Mechanism: Automatic Electronic Transfer | Frequency: Daily as per payment calendar | FAA Interface Ref: FAA-I022 | ||
Requirement:
The initial settlement run information is provided to the FAA in the form of a Credits and Debits report.
The system will load the data provided in the Credits and Debits report in order to create payments.
Data received will include:
1. Administration Charge 2. Energy Imbalance Cashflows 3. Information Imbalance Charge 4. Non Delivery Charge 5. Residual Cashflow Reallocations 6. BM Payments 7. System Operator (NETSO) Charges 8. Daily Party RR Cashflow 9. Daily Party RR Instruction Deviation Cashflow 10. Daily Compensation Cashflow 11. Daily Supplier Compensation Cashflow
The main validation check performed on the data is that the net total of each file is zero, i.e. credit total = debit total. The BSC defines a maximum allowable tolerance on any difference between debits and credits.
If there are any problems with the data, the FAA will liaise with the SAA and inform the BSCCo of any actions taken.
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Requirement ID: FAA-R054 as amended by MP61 | Status: M | Title: Receive Revised Credits & Debits | Source: FAASD9 RETA SCH 4 | |
Mechanism: Automatic Electronic Network | Frequency: Daily as per Payment Calendar | FAA Interface Ref: FAA-I023 | ||
Requirement:
The reconciliation settlement run information and where applicable the Post Final Settlement Run information is provided to the FAA in the form of a Revised Credits and Debits report.
The system will load the data provided in the Revised Credits and Debits report in order to create payments.
Data received will include:
1. Administration Charge 2. Energy Imbalance Cashflows 3. Information Imbalance Charge 4. Non Delivery Charge 5. Residual Cashflow Reallocations 6. BM Payments 7. System Operator (NETSO) Charges 8. Daily Party RR Cashflow 9. Daily Party RR Instruction Deviation Cashflow 10. Daily Compensation Cashflow 11. Daily Supplier Compensation Cashflow
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Requirement ID: MP61 | Status: M | Title: Extra Settlement Determination Data | Source: BSCCo | |
Mechanism: Manual | Frequency: As applicable | FAA Interface Ref: FAA-I037 | ||
Requirement:
The Extra Settlement Determination Data is provided to the FAA in the form of a list of BSC Parties (Affected Parties) that the ESD amounts are to be recovered from and the BSC Party (Receiving Party) to whom the ESD will be paid. The list will include Party IDs and amounts involved.
Further instruction will be provided by BSCCo to recover the ESD amount from the Receiving Party and pay that amount to the Affected Parties. BSCCo will provide instructions to calculate an interest payment payable by the Receiving Party to the Affected Parties based on the BSC Banker Rate.
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Requirement ID: FAA-R055 | Status: M | Title: Issue Payment Date Exception Report | Source: NA | |
Mechanism: Manual | Frequency: On-going as applicable | FAA Interface Ref: FAA-I032 | ||
Requirement:
The FAA will notify the BSCCo if the funds transfer process for a payment date has been unsuccessful. The funds transfer process would be deemed unsuccessful if the funds have not been transferred to the BSC creditors for same day value or if any of the Collection Accounts have not transmitted the incoming funds to the Clearing Account.
Information provided will include the following:
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Requirement ID: CR 034 | Status: M | Title: Pay Reserve Account Interest | Source: BSC Section N 4.6.3 (a) | |
Mechanism: Manual | Frequency: Quarterly | FAA Interface Ref: FAA- | ||
Requirement:
The FAA will pay quarterly from the Reserve Account interest to each BSC Party attributable to their cash share credited to the account. Invoices will also be produced and dispatched to the BSC Parties.
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Requirement ID: FAA-R084 | Status: M | Title: Obtain Tax Quarters | Source: NA | |
Mechanism: Manual Media | Frequency: Ongoing as applicable | FAA Interface Ref: NA | ||
Requirement:
The FAA shall obtain details of the last Payment Dates associated with Quarter Dates and will update the NETA Funds Transfer System accordingly.
Notification of changes to the Quarter Dates will be obtained from media notification.
The information entered into the system is as follows:
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Requirement ID: FAA-R085 | Status: M | Title: Issue Invoices | Source: NA | |
Mechanism: | Frequency: Following threshold breach, or as manually triggered | FAA Interface Ref: FAA-I038 | ||
Requirement:
Invoices are issued to relevant Payment Parties following an Invoice Threshold Limit or time threshold breach. Invoices are emailed to the Payment Party in Portable Document Format or can be downloaded via Self-serve from the Elexon Portal.
Header details will include the following:
For each type of Charge, details for that charge will include the following:
The Invoice will also show
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Requirement ID: FAA-R086 | Status: M | Title: Issue Default Statements | Source: NA | |
Mechanism: | Frequency: Following threshold breach, or as manually triggered | FAA Interface Ref: FAA-I039 | ||
Requirement:
The Default Statements provide supporting documentation relating to the Invoice, in particular details of Default charges.
The statements are emailed in Portable Document Format.
The details included on the statements will include the following:
1. Affected Date 2. Defaulting Party 3. Amount in Default
1. Amount excluding VAT 2. VAT 3. Amount including VAT 4. Non-VATable share 5. Interest 6. Total amount payable/receivable net of tax liabilities
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Requirement ID: FAA-R088 | Status: M | Title: Issue Default Statements | Source: NA | |
Mechanism: Manual download via Elexon Portal | Frequency:
Following threshold breach.
| FAA Interface Ref: FAA-I041 | ||
Requirement:
The Ad-Hoc Statements provide supporting documentation relating to the Invoice, in particular details of Ad-Hoc charges.
The statements will be available to be manually downloaded via the Elexon Portal.
Header details will include the following:
Report body details will include the following:
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Requirement ID: FAA-R056 | Status: M | Title: Audit Requirements | Source: NA | |
Mechanism: Automatic | Frequency: All business transactions | FAA Interface Ref: NA | ||
Requirement:
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Requirement ID: FAA-R057 | Status: M | Title: Security Requirements | Source: NA | |
Mechanism: Manual and Automatic | Frequency: As required | FAA Interface Ref: NA | ||
Requirement:
1. Entry of 6-character user PIN. The user is prompted to change the PIN on a regular basis every 28 days. 2. Entry of user ID and non-displayed alphanumeric password. The password must be a minimum of 8 characters in length. The user is requested to change the password on a regular basis every 28 days 3. In order to transmit a CHAPS payment, three suitably authorised persons are required. To transmit a BACS payment or collect a direct debit, two suitably authorised persons are required. Two separate individuals are required to make any CHAPS, BACS or Direct Debit standing data changes. These two individuals can play no part in the collection or transmission of funds.
1. Authentication: a mechanism to verify that the parties on either side of the data link are who they claim to be. 2. Privacy: a mechanism to ensure that transmitted content is not read or intercepted by unauthorised recipients. 3. Integrity: a mechanism to verify that transmitted data is received in an unchanged state.
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Requirement ID: FAA-R058 | Status: M | Title: Operational Control | Source: NA | |
Mechanism: Manual and Automatic | Frequency: As required | FAA Interface Ref: NA | ||
Requirement:
Operation control procedures are likely to include the following:
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Requirement ID: FAA-R059 | Status: M | Title: Euro Compliance | Source: NA | |
Mechanism: Manual and Automatic | Frequency: As required | FAA Interface Ref NA | ||
Requirement:
The FAA system and services shall be Euro Compliant in accordance with legal requirements applicable in England.
Euro-compliance functionality shall not be used prior to the Go-live date.
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Issues:
The complete definition of Euro compliance requirements relating to NETA is not yet specified. |
Requirement ID: FAA-R060 | Status: M | Title: Backup and Recovery Requirements | Source: NA | |
Mechanism: Manual and Automatic | Frequency: On-going as detailed below | FAA Interface Ref: NA | ||
Requirement:
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Requirement ID: FAA-R061 | Status: M | Title: Archiving Requirements | Source: NA | |
Mechanism: Manual | Frequency: As required | FAA Interface Ref: NA | ||
Requirement:
1. On-line access must be available within 5 minutes for data up to one month old; 2. On-line access must be available within 24 hours for data up to one year old; 3. On-line access must be available within one week for data up to seven years old.
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Requirement ID: FAA-R062 as amended by P214 | Status: M | Title: Resilience Requirements | Source: NA | |
Mechanism: Manual and Automatic | Frequency: NA | FAA Interface Ref: NA | ||
Requirement:
1. Manual data entry facility. If the data files cannot be loaded into the system, trading details for each of the BSC Parties can be manually input.
2. Back-up system on site. If the main system is unavailable, the back-up system, which is restored with the main system backup every night (and is therefore only ‘one day behind’) could be utilised.
3. Offsite system access. If access to the business premises is denied, the FAA have a comprehensive Disaster Recovery plan in place which involves relocating to the Disaster Recovery site where all the required hardware and software will be available.
4. Manual faxing facilities. The BSC Party reports can be manually faxed when the email of electronic Advice Notes facility is unavailable.
5. Alternate funds transfer arrangements. If the Barclays Bank software is not available, the FAA has an agreement in place whereby the Bank will arrange to make the payments to the BSC Parties upon receipt of duly authorised instructions from the FAA.
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Requirement ID: FAA-R063 | Status: M | Title: Volumetric Requirements | Source: NA | |
Mechanism: Manual and Automatic | Frequency: As required | Volumes: As below | FAA Interface Ref: NA |
Assumption | Volumes | ||
BSC Parties | Low | Average | High |
100 | 200 | 300 |
Transaction | Explanation | Volumes | ||
Aggregated Debits/Credits per day |
5 Settlement Runs 1 Initial Settlement Run 4 Reconciliation Settlement Runs (3 after Bank Holidays etc) | Low | Average | High |
500
1500 | 1000
3000 | 1500
4500 | ||
Statements produced per day | One statement per Payment Party per Payment Date | 100 | 200 | 300 |
Invoices produced | Following threshold breaches | 1 per tax quarter | Unknown | 300 per day |
Threshold Default Statements produced | Following threshold breaches | 1 per tax quarter | Unknown | 300 per day |
Payment to BSC Creditors per day | 50% net debtors 50% net creditors One payment per creditor per Payment Date (assuming an Invoice Threshold Limit of £500) | 10 | 75 | 150 |
Requirement ID: FAA-R074 | Status: M | Title: Reports on FAA Performance | Source: Schedule 3 | |
Mechanism: Manual. | Frequency: Monthly | FAA Interface Ref: NA | ||
Requirement: The FAA shall provide a report on the FAA performance to the BSCCo on a monthly basis. The report will include the following information:
1. Incidents of late/non billing 2. Incidents of late/non payment of sums due to BSC creditors 3. Details of credit cover issues and concerns 4. Details of banking issues and concerns
1. Problems logged and severity levels allocated 2. Total number of calls received 3. Confirmations of calls resolved within agreed response time 4. Details of calls escalated 5. Call sign-off dates 6. Summary of outstanding problems
The FAA shall provide a report on the FAA performance to the BSCCo on an annual basis.
The report will include the following information:
1. Successful production of the Payment Calendar by 15 January each year 2. Successful publication of the Payment Calendar by 31 January each year | ||||
Issues:
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Requirement ID: FAA-R075 | Status: M | Title: Problem Management | Source: Schedule 3 | |
Mechanism: Manual Help Desk Facility | Frequency: On-going as applicable | FAA Interface Ref: NA | ||
Requirement:
The FAA shall establish and operate a Help Desk to receive notification of, investigate, manage and resolve any Incidents. The FAA Help Desk facility must be available on working days between the hours of 9:00 a.m. and 5:00 p.m.
The Help Desk will include:
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Issues:
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Requirement ID: FAA-R076 | Status: M | Title: Invest Credit Cover | Source: FAA SD 6.2 | |
Mechanism: Manual | Frequency: Ad-hoc | FAA Interface Ref: FAA-I038 | ||
Requirement:
1. The FAA will seek to maximise return on the cash deposits held in the Reserve Account by the following means:
(a) At its own discretion, the FAA may instruct the BSC Banker to place amounts as it may determine from the Reserve Account into an Overnight Deposit with the BSC Banker for the purposes of earning interest.
(b) Upon instruction from BSCCo, the FAA shall, by 14:00 on the same Working Day as receiving the instruction, instruct the BSC Banker to place such amounts as determined by BSCCo into an Investment Account.
2. The FAA will consider any return as being part of the overall interest determined for the Reserve Account.
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Issues:
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Role | Activities |
System Administrator | Database management
Specific aspects of system configuration
User account and security management
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Billing Operations Manager | Management of operators
Management of standing data updates
Co-ordination of creation of the payment calendar
Management of planned operational activities to meet Payment Calendar timescales and service level requirements
Creation of management information reports
Support for communication with external parties
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Billing Operator | Performance of procedures to monitor receipt and processing of debit and credit amounts from SAA.
Performance of procedures to initiate and monitor billing runs and reports.
Effect the transfer of funds.
Second level support for ad hoc queries raised by external parties
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Help Desk Operator | First level support for ad hoc queries raised by external parties.
Note that the Help Desk facility shall be shared by more than one service provision.
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Auditor | There shall be a specific user security configuration, which allows an external auditor to review data within the system, but prevents the initiation of batch processes or logical edits to business data.
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Role | Summary of Activities related to FAA |
BSCCo | Receives summary financial reports from FAA at periodic intervals (daily, weekly, monthly) and notified of expected and unexpected VAT Imbalances, to be paid / received to / from BSC Clearer.
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BSC Party | Establishes Credit Cover with the FAA. Receives detailed Invoices and Statements (Backing documentation)..
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CRA | Provides authentication and registration details for BSC Parties data to the FAA.
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ECVA | Receives credit limit data and contract notifications for each BSC Party. Provides total energy contract volume associated with each energy account and settlement period.
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Customs and Excise | Receives Quarterly reports from FAA detailing VAT information for each BSC Party
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Inland Revenue | Provides details of current and historic income tax rates to the FAA
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Credit Rating Agencies | Provides initial credit rating information for each BSC Party to the FAA |
Collection Bank | Provides confirmation that all funds due for the payment date have been received and are available for clearing.
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BSC Banks | Provides details of current and historic Base Rates to the FAA
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Settlement Administration Agent (SAA) | Provides debit/credit instructions in order to perform funds clearance. Provides payment calendar annually. |
Daily Settlement processing;
Funds Transfer;
Payment Calendar; and
Non process specific
Settlement Date | Settlement Code | Notification Date | Calendar Payment Date |
7th April 2000 | SF | 4th May 2000 | 9th May 2000 |
8th April 2000 | SF | 4th May 2000 | 9th May 2000 |
9th April 2000 | SF | 4th May 2000 | 9th May 2000 |
13th March 2000 | R1 | 4th May 2000 | 9th May 2000 |
10th January 2000 | R2 | 4th May 2000 | 9th May 2000 |
28th September 1999 | R3 | 4th May 2000 | 9th May 2000 |
11th March 1999 | RF | 4th May 2000 | 9th May 2000 |
A Logical Data Structure (diagram);
Entity descriptions;
List of the main attributes for each entity. ‘p’ = primary key attribute, ‘*’ = foreign key attribute, ‘o’ = optional key attribute.
1 The proposed withdrawal date will also be included.