16 - Behind the Balancing and Settlement Code with Aditi Tulpule (Legal Counsel @ Elexon)

How is electricity traded? And what is 'imbalance settlement'? The Balancing and Settlement Code, or BSC, is a document outlining the rules of the balancing mechanism and imbalance pricing in Great Britain. In today's episode, Quentin speaks to Aditi Tulpule, Legal Counsel at Elexon - the organisation that manages imbalance pricing and payment. In this episode they discuss:A brief history of the BSC, how it works, and why it's integral to the smooth running of the balancing mechanism.The importance of data transparency in our newly decentralised, increasingly real-time energy system.Why innovation and collaboration are vital when it comes to creating market environments that work for all parties.Recent regulatory changes that participants need to be aware of (including where energy storage fits into the 'generation vs. supply' categorisation). And, of course, Elexon's role in all of the above.Find Aditi on LinkedIn: linkedin.com/in/aditi-tulpule-4693448Elexon is a not-for-profit entity, funded by electricity market participants. It was established to manage the Balancing and Settlement Code. For more information on Elexon, head to: https://www.elexon.co.uk/Modo is a leading voice in the world of battery energy storage. We provide transparency around BESS revenues, as well as unique research and analysis to help you get to grips with energy markets. To find out how we can help you build the future energy system, check out: https://modo.energy/To keep up with all of our latest Insights, follow us on LinkedIn: https://www.linkedin.com/company/modo-energy/