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Project TERRE edges closer as Elexon opens market entry process

Image: Getty.

Image: Getty.

Elexon, the entity tasked with delivering the UK’s balancing and settlement code, has opened the market entry process for independent aggregators.

Late last week Elexon issued modification P344, which allows independent aggregators, or Virtual Lead Parties (VLPs) to start registering secondary Balancing Mechanism units in order for them to participate in the groundbreaking Project TERRE.

The Trans-European Replacement Reserves Exchange (TERRE) project is aiming to establish a platform for trading electricity for balancing means in nine participating nations, of which Great Britain is one.

Elexon and National Grid in its capacity as Electricity System Operator (ESO) are now implementing modification P344 in anticipation for Project TERRE to begin in December 2019.

Elexon described the modification as important to the project as it opens up participation in the project to aggregators not affiliated with a licensed energy supplier.

The body has also produced a webinar which explains more about the roles of independent aggregators in the project, and how they can begin preparing to participate in it.

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