P511 Balancing and Settlement Code Urgency Decision - Trading Eligibility Threshold
Summary
Ofgem has granted urgency status for Balancing and Settlement Code modification proposal P511, which was raised by Axle Energy on 18 March 2026. P511 proposes introducing a trading eligibility threshold above which generation assets would be ineligible to participate in wholesale markets via Virtual Trading Parties. The urgency was granted in light of concerns about increasing volume and cost of the P415 mutualised compensation fund. The BSC Panel unanimously recommended urgency for P511.
What changed
Ofgem granted urgency status for BSC modification proposal P511, which would introduce eligibility boundaries restricting certain generation assets from participating in wholesale markets via Virtual Trading Parties. The urgency was requested by Axle Energy following data showing increased volume and cost of the P415 mutualised compensation fund.
Affected parties include generation asset owners, Virtual Trading Party operators, and market participants in the UK's electricity balancing and settlement framework. The urgency designation means P511 will be expedited through the code modification process, potentially accelerating implementation of trading eligibility restrictions for larger generation assets.
Archived snapshot
Apr 16, 2026GovPing captured this document from the original source. If the source has since changed or been removed, this is the text as it existed at that time.
P511 Balancing and Settlement Code (BSC) urgency decision
Publication type: Code modification Publication date:
16 April 2026
Topic: Energy codes, Electricity generation Subtopic: Balancing and settlement code (BSC), Wholesale markets Print this page
Related links
- Ofgem decision P415 'Facilitating Access to Wholesale Markets for Flexibility Dispatched by VLPs'
- P509 Balancing and Settlement Code (BSC) urgency decision
- P510 Balancing and Settlement Code (BSC) urgency decision
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- Outcome of request for an urgent review of proposed changes to Balancing and Settlement Code P511 Eligibility Boundaries for Generation Participation in P415.
Details of outcome
We have decided to grant urgency for Balancing and Settlement Code (BSC) modification proposal P511.
Code modification description
P511 was raised by Axle Energy on 18 March 2026. P511 proposes introducing a trading eligibility threshold, above which, generation assets would be ineligible to participate in the wholesale market via Virtual Trading Parties.
At the Special BSC Panel on 18 March, Axle Energy requested urgency in light of information showing that there has been a recent increase in the volume and cost of the P415 mutualised compensation fund. Related code modifications P509 and P510 also requested urgency on similar grounds.
The BSC Panel unanimously agreed to recommend to Ofgem that P511 should be progressed as an urgent modification proposal.
We have considered P511 alongside the related urgency requests for P509 and P510. We have decided to grant the request for urgency for P511. This letter sets out our reasoning.
Documents
BSC modification proposal P511 Eligibility Boundaries for Generation Participation in P415 – decision on urgency [PDF, 176.66KB] Print this page
Related links
- Ofgem decision P415 'Facilitating Access to Wholesale Markets for Flexibility Dispatched by VLPs'
- P509 Balancing and Settlement Code (BSC) urgency decision
- P510 Balancing and Settlement Code (BSC) urgency decision
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