Glossary Term: Framework Agreement
The balancing and settlement arrangements and their governance are enshrined in the BSC (collectively known as the BSC arrangements). The requirement to have the BSC in force is placed on National Grid through its Licence.
It is a condition of a Generation and Supply Licence that licensees are bound by the BSC, and that they must become BSC Parties by signing the BSC Framework Agreement (which gives contractual force to the BSC).
Other parties who are not licensees have the option to sign the BSC Framework Agreement, which provides them the right to notify energy contract volumes and register BM Units (if they are Interconnector Users or licence exempt). This exposes them to any charges and payments that result.
BSC defined definition
Means the BSC Framework Agreement, as defined in the Transmission Licence.