Below demontrates the steps for unit registration in the Balancing Market.
Registering a Unit
In parallel to registering as a Party, a company can commence Unit Registrations. On registration of a Unit, a Party becomes a Participant in the Single Electricity Market.
The first step to registering a unit is to submit the unit application. The steps to this are as follows:
- Pay the Participation fee
- Submit the relevant forms and data (Participation Notice, Unit Registration Data, Forecast Volumes).
- Submit copy of Generation/Supply Licence granted by the Regulatory Authority
- Submit Form of Authority & Regulatory Letter of Consent, if applicable
Other unit registration requirements
Once the unit application is received, further steps will need to be completed before the unit can be fully registered:
- Set up Authorised Signatories to change your bank details
- Return the completed Banking Details Confirmation Letter
- Submit Letter of Credit and/or open Cash Collateral account, and process associated Deed of Charge
To commence the application process, call and ask to speak to a Registration representative or email email@example.com. The Unit Application process can take at least 60 working days to complete, as defined in the Trading and Settlement Code.