P469 proposal seeks to delay the Credit Default Refusal and Rejection Periods. This change would give parties a two-hour window from the Level 2 Credit Default notification until the time when any Energy Contract Volume Notifications (ECVN) related to a defaulting party are rejected.
To implement the proposed Solution, this Modification aims to change BSC Section M, 3.3.3 a (i) and (ii).
Status
Who will this impact?
This Modification is expected to impact:
- All Parties with an Energy Account
- Energy Contract Volume Aggregation Agent (ECVAA)
What is proposed?
This Modification follows on from discussions held as part of Issue 106 ‘Review of BSC Credit Cover Arrangements’, which made a recommendation that a Modification be raised to modify the Credit Default process by delaying the start of the Credit Default Rejection Period and the start of the Credit Default Refusal Period for any ECVNs and/or MVRNs submitted after a Party has entered authorised Level 2 Default, where such ECVNs and/or MVRNs would increase the Party’s Energy Indebtedness.