Balancing and Settlement Code P468: Enabling Elexon to support the (currently in draft) Electricity Support Payments and Levy Regulations 2024

OFGEM·decision·low·5 Apr 2024·source document

Summary

Ofgem approves BSC Modification P468, enabling Elexon to administer the government's Electricity Support Payments and Levy scheme. The modification allows Elexon to collect industry levies and distribute support payments under draft regulations from DESNZ. This creates new administrative functions for the settlement body without changing market structure.

Why it matters

Administrative change that socialises the costs of a government support scheme across electricity market participants through industry levies. Elexon becomes a conduit for fiscal policy rather than focusing solely on market settlement.

Key facts

•BSC Modification P468 approved April 2024
•Enables Elexon to support draft Electricity Support Payments and Levy Regulations 2024
•Creates new levy collection and payment distribution functions

Areas affected

wholesale marketsuppliers

Memo

Balancing and Settlement Code P468: Enabling Elexon to support the (currently in draft) Electricity Support Payments and Levy Regulations 2024 | Ofgem Please enable JavaScript in your web browser to get the best experience. BETA This site is currently in BETA. Help us improve by giving us your feedback . Close alert: Balancing and Settlement Code P468: Enabling Elexon to support the (currently in draft) Electricity Support Payments and Levy Regulations 2024 Publication type: Code modification Publication date: 5 April 2024 Topic: Energy codes Subtopic: Balancing and settlement code (BSC) Print this page Share the page Share on Facebook Share on Twitter Share on LinkedIn This letter presents the Authority's decision to approve the Proposed Solution for Balancing and Settlement Code (BSC) Modification P468 ‘Enabling Elexon to support the (currently in draft) Electricity Support Payments and Levy Regulations 2024’. Main document Decision on BSC Modification P468 [PDF, 138.28KB] Print this page Share the page Share on Facebook Share on Twitter Share on LinkedIn Close