P426 ‘Combining related BSC Parties’ Energy Indebtedness positions for the Credit Cover Percentage calculation’
Formal title: Combining related BSC Parties' Energy Indebtedness positions for the Credit Cover Percentage calculation
This Modification proposes to remove inefficiencies with the Credit Cover calculation by allowing related BSC Parties to combine their Energy Indebtedness prior to calculating the Credit Cover Percentage.
Where BSC Parties are related (e.g. within the same corporate body), the proposal is that the Energy Indebtedness of each BSC Party should be combined and the Credit Cover Calculation then performed on the combined position. Parties would assume joint liability in the event Elexon calls on Credit, and so overall risk to Settlement should remain the same as for the current arrangements.
Current Status
Submission
Assessment Procedure
Report Phase
With Authority
Awaiting Implementation
Implemented