New Anglia Energy has proposed a modification to the Balance and Settlement Code (BSC) that would allow consumers to buy and sell energy through multiple parties.
To enable meter splitting, P379 would create the new role of “customer notification agent” as suggested in a white paper published by the code administrator Elexon in April.
Customer notification agents would be responsible for reconciling power flows through meters so volumes and costs could be allocated to trading parties and reflected in their bills to consumers.
New Anglia Energy said the current settlement arrangements are stifling the development of peer-to-peer trading and local energy markets, whilst limiting competition and consumer choice.
According to its submission, P379 has support from a number of other companies including Ovo Energy, Cooperative Energy, Powervault and Verv.
The energy consultancy said it is hoping for the modification to be implemented in early 2020 following further development and testing.
It would build upon the changes to settlement arrangements being introduced through the code modification P344 in order to allow Great Britain to participate in the Trans-European Replacement Reserves Exchange (TERRE).
P344 will create a new type of BSC signatory called a “virtual lead party” that will be able to create an aggregated balancing mechanism unit without being the registered supplier for the sites they are aggregating or holding a supply licence at all.
The modification was approved by Ofgem in August last year and is due to be implemented in February.