Glossary Term: Settlement
Contract notifications, bids and offers, and other data, is sent to BSC Central Services for Imbalance Settlement. At the end of a Settlement Period, BSC Systems compare a Party’s contracted (traded) volume with the metered volume of energy used in the Settlement Period. Settlement is how financial charges are calculated and settled.
BSC defined definition
The determination and settlement of amounts payable in respect of Trading Charges (including Reconciliation Charges) in accordance with the Code (including where the context admits Volume Allocation).