Elexon Company Profile, Contacts & Intelligence

Elexon Overview

Elexon is a trusted, independent, expert enabler of the Net Zero energy system for Great Britain (GB) We are delivering a system that is more flexible, more secure, and more efficient. We manage wholesale electricity market arrangements for GB. Our core role is to perform electricity imbalance settlement, where we compare contracts from electricity companies to buy and sell power in the wholesale market, with actual volumes. We make sure everyone is paid accurately for any differences. We manage the Balancing and Settlement Code (BSC), one of the rule books which govern the GB energy system. We support companies through the electricity market entry process by registering their trading units, and helping them through our qualification processes. We also provide assurance to the rest of the market that all companies that are signed up to the BSC are performing to the required standards. This ensures that settlement is accurate. We calculate, collect and distribute payments for the Contracts for Difference and Capacity Market schemes, which are UK Government mechanisms to encourage development of renewable energy and deliver security of supply. Elexon is managing implementation of half hourly settlement, a major enabling reform for innovation in electricity tariffs and services, which will encourage consumers to be more flexible in their electricity use and deliver greater efficiency in how the system is managed. Elexon will also deliver the market facilitator role for flexibility, where we will work to develop more open, coordinated and transparent local flexibility markets, and supporting their growth. Elexon is independent from Government, Ofgem and the electricity industry. Elexon is also neutral as we do not buy or sell electricity products in any electricity markets.

Headquarters

United Kingdom

Website

elexon.co.uk

Industry

Utilities

Founded

2000

NAICS

Utilities, Electric Power Generation, Transmission and Distribution

Phone Number

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Company Email

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