Glossary Term: Nominated Agreements
A Nominated Agreement under the Balancing and Settlement Code (BSC) refers to a specific type of contract or arrangement that is recognized and used within the framework of the BSC. The BSC governs the balancing and settlement of electricity in Great Britain, ensuring that the supply and demand of electricity are matched and any imbalances are settled appropriately.
Nominated Agreements typically involve contracts between parties such as generators, distributors, suppliers, and code bodies, detailing the terms under which electricity is produced, supplied, or transferred. These agreements are crucial for the accurate metering, reporting, and settlement of electricity transactions.
BSC defined definition
Has the meaning given to that term in Section H4.4.1; and means:
(i) The Code;
(ii) The Code Subsidiary Documents;
(iii) the Implementation Scheme;
(iv) the Scheme Subsidiary Documents;
(v) the Settlement Agreement for Scotland;
(vi) the Master Registration Agreement;
(vii) all Connection Agreements;
(viii) the Data Transfer Service Agreement; and
(ix) any other electricity industry agreement or document as may be specified (or of a type specified) as a Nominated Agreement by the Panel from time to time (following such consultation with Parties as the Panel considers appropriate for this purpose);