|Headquarters:||4th Floor, 350 Euston Road, London NW1 3AW, United Kingdom|
|Location(s):||London, United Kingdom|
|Date of foundation:||2000|
|Traded commodities and traded volumes in 2015:||
Please note that being bi-lateral, this is the sum of both the buy and sell sides of the contract (effectively a double count).
|Current number of employees (April 2016):||150|
|Annual report(s):||ELEXON 2015 Annual Report|
ELEXON, founded in 2000 with the New Electricity Trading Arrangements (NETA) introduced in England and Wales in March 2001 and in Scotland in 2005, administers the Balancing and Settlement Code (BSC). The requirement to have the BSC in force is placed on the TSO, National Grid, through its Transmission Licence. We administer the BSC, and provide and procure the services needed to implement it. Our expertise and impartiality give our customers the confidence that the BSC operates efficiently and accurately.
What we do
ELEXON is vital to the operation of the wholesale electricity market as we compare how much electricity generators and suppliers said they would produce or consume with actual volumes. We work out a price for the difference and transfer funds accordingly. This involves taking 1.25 million meter readings every day and handling £1.5 billion of our customers’ funds each year.
EMR Settlement Ltd (EMRS) is a wholly owned subsidiary of ELEXON Ltd. It was set up in March 2014 after the Government’s Department of Energy and Climate Change (DECC) recognised that ELEXON had the experience and capability to provide settlement services to deliver the Government’s new policies to support low carbon generators (Contracts for Difference (CFD)) and to introduce a Capacity Market (CM). It recognised the similarities between the data, systems and processes that successfully operate under the BSC and those that will be required for CFD and CM.