Glossary Term: Annual BSC Report
Each year Elexon publishes an Annual BSC Report and convenes an Annual BSC Meeting where stakeholders will be able to hear about key activities Elexon has been working on as well as Elexon’s strategic priorities for the following year.
BSC Parties will also be asked to vote on election or re-elections of the Board members. In keeping with corporate governance best practice, and to enhance the accountability of the Board, all Directors will be subject to election or re-election at the Annual BSC Meeting.
BSC defined definition
Means the report to be prepared in respect of each BSC Year pursuant to Section B6.1
Panel shall prepare and provide to all Parties and the Authority, no later than 30th June in each BSC Year (the “current” year), a report summarising the implementation of The Code and the activities of the Panel and its committees and of BSCCo in the preceding BSC Year.
The Annual BSC Report shall include:
(a) a review of the operation of Settlement and the implementation of The Code generally;
(b) a review of the implementation of the Modification Procedures and the Modification Proposals which have been subject to those procedures;
(c) a report on the performance by each BSC Agent of its functions under The Code and pursuant to its BSC Agent Contract;
(d) a review against the Business Strategy for that BSC Year of the activities undertaken by BSCCo, and a review against the Annual Budget for that BSC Year of the expenditure of BSCCo;
(e) a report on the performance of each SMRS and compliance with the BSC Requirements for the MRA, and a review of arrangements (relevant to implementation of The Code) between Parties and parties to the MRA;
(f) a report in relation to Trading Disputes
(g) a report on the performance by each Market Index Data Provider of its functions under The Code and pursuant to its Market Index Data Provider Contract; in and in respect of the report BSC Year.