Industry settlements company Elexon is looking for early feedback on a digitalised version of the Balancing and Settlement Code.
The code details the requirements that have to be met by most companies who want to take part in the energy industry. But the code itself is long and complex and that presents a barrier to companies who want to enter the industry or fully understand their responsibilities – as well as making necessary industry chnages slow and cumbersome. They are faced with a 10,000 page document, with how-to guides, which presents a challenge to users and to code management.
Elexon has been heavily involved in industry initiatives such as the Energy Data Task Force and the recently launched Digitalisation Task Force. It believes they open the door to a future for the Code that will make it much easier to use, by digitalising the code itself.
Peter Stanley, who is director of digital operations supporting the transformation of the energy industry at Elexon, said the company plans digitalisation that will enable parties to directly engage with the code and personalise it so their obligations are much simpler to understand. It will have advanced searches to navigate the code, and also personalisation and alerts.
Digitalisation should also help code managers. Stanley said, “The plan is that the change process itself will be integrated, so that instead of legal drafting changes, it will enact on the platform. The change process is automated. If one part is changed it will automatically cross refence.”
Elexon believes its approach is unique. Although there are other code bodies that have claimed a digital code, Stanley says, “they are mainly searching through metadata”. He says, “We think our initiative is unparalleled in code body environment”.
The first iteration is due to go live next year and Elexon is looking for industry feedback now on the early versions. Contact [email protected] to take part.