Glossary Term: Party
A BSC Party is any company that has acceded to the Balancing and Settlement Code (i.e. that has signed the BSC Framework Agreement). This includes all licensed electricity companies in Great Britain who are required by their license obligations to sign the BSC. Other companies who are not licensees also have the option to sign the BSC Framework Agreement.
Most Suppliers, Generators, and Licensed Distribution System Operators may have to become a BSC Party because it is a condition within their Ofgem licence. Other companies wishing to trade within the BSC arrangements, like Non-Physical Trader and Virtual Lead Parties, may also have to do so.
BSC defined definition
Means a person who is for the time being bound by the Code by virtue of being a party to the Framework Agreement;