If you are ready to join the GB wholesale electricity market as a Virtual Lead Party (VLP), you now need to navigate the registration process with Elexon. This blog provides a step-by-step guide on registering and becoming certified as a VLP and unlocking access to this exciting market.
Step 1: Understand the VLP Essentials
Before starting your registration, ensure you understand the VLP role and its implications. Familiarise yourself with BSC P415, the code modification paving the way for VLP participation. Engage wrote a previous blog “Summary of BSC Modification P415: Facilitating access to wholesale electricity markets for flexibility dispatched by Virtual Lead Partners.”
Step 2: Market Entry Readiness
- Accession: Formally express your intent by completing the BSC accession form and agreement. This grants you basic participant status within the Balancing Mechanism (BM).
- Market Entry Route: Choose your path – manual or Elexon Kinnect Customer Solution. Elexon Kinnect offers a guided, digital experience, while the manual route requires form submissions.
Step 3: Registration
- Central Volume Allocation (CVA) Qualification: required to prove you have the ability to send and receive data items from Balancing and Settlement Code (BSC) Agents.
- Supplier Volume Allocation (SVA) Qualification: required to confirm VLPs understanding of the obligations and activities of the BSC and the service levels they need to adhere too.
- Party Registration: Submit the BSCP65/01 form online or through Elexon Kinnect. This registers your organization as a VLP.
Step 4: Secondary Balancing Market Unit (SBMU) Management
- Register SBMUs: Define your trading units using the BSCP15/4.14 form or Elexon Kinnect. This specifies whether you are buying or selling electricity within each SBMU.
- MSID Allocation: Obtain Metering System Identifier (MSID) pairs for each SBMU, allowing data exchange with metering operators.
Elexon Resources
Elexon provides resources to guide and help you through the process:
- Detailed guidance notes: https://www.elexon.co.uk/market-entry/becoming-virtual-lead-party/
- Step-by-step process overview: https://www.elexon.co.uk/market-entry/becoming-virtual-lead-party/
- Elexon Kinnect Customer Solution: https://www.elexon.co.uk/settlement/bsc-central-services/elexon-kinnect-platform/
Engage Consulting
At Engage, we have a team of expert consultants with extensive experience in energy sector Market Arrangements. We can support clients through this registration process, and once registered, we can help you unlock the benefits of becoming a VLP. Contact us today to learn more about how we can help.