Each year, the BSC Panel and the Performance Assurance Board (PAB) identify, evaluate and prioritise the risks that may occur within Settlement and the extent to which they apply to each Performance Assurance Party (PAP).
What is a Settlement Risk?
A Settlement Risk is any potential failure point within a Settlement process or system that may prevent the provision of timely, accurate data.
How Elexon identifies risks
Elexon identifies settlement risks by reviewing the obligations placed on Parties and Agents under the Code and Code Subsidiary Documents (CSDs). This includes the steps they are required to complete within the processes set out in the Balancing and Settlement Code Procedures (BSCPs).
Each step where a Party or Agent must complete a specific action is identified as a potential failure point and recorded as a Risk Factor. Risk Factors linked to the same process are then grouped together to form Settlement Risks for inclusion in the Risk Ledger.
Ledger of Settlement Risks
The ledger below sets out the current Settlement Risks. It can be filtered to show which Party or Agent is responsible for the associated Risk Factors. It also serves as the Risk Evaluation Register (RER) for the current Performance Assurance Operating Period (PAOP).
Current Risk Ledger
The current Risk Ledger has 21 risks associated with one of four different process areas:
- registration and appointments
- data retrieval and processing
- metering installation and maintenance
- central systems and BSC Agents
See the full list of Settlement Risks:
Techniques to manage risks
We have a set of process designed to manage the impact of risks, referred to as Performance Assurance Techniques. See a detailed explanation:
More on Settlement Risk
You can read more about Settlement Risks in the Performance Assurance: Settlement Risk Guidance Note.