Virtual Trading Party VTP Market Entry Consulting Service

An asset operator must undertake a self-assessment qualification process to trade as a Virtual Trading Party (VLP) in the wholesale electricity markets.

The self-assessment is a subset of the supplier accreditation process using the same self-assessment document (SAD) and is assessed by KPMG on behalf of Elexon prior to submission to the Elexon Performance Assessment Board (PAB) for approval. It is evidence based and aims to ensure that the participant can adequately fulfil its obligations under the Balancing and Settlement Code (BSC).

Market entry requires the applicant to have suitable robust systems in place to perform its VTP obligations which have been fully tested following a recognised software methodology alongside documented business process flows covering VLP operational scenarios.

The applicant must complete the relevant sections SAD with supporting evidence. The topics under examination are:

• Applicant Information
• Project Management
• Testing
• Operational Security and Controls
• Change Management and Risk Assessment Process
• Management, Resource Planning and Local Working Procedures
• Virtual Trading Party

Given that an AMVLP registers behind-the-meter assets in the Balancing Mechanism, there are addition requirements for an AMVLP as opposed to a VLP covering a supplier’s business processes. This requires the ability to manage certain SVA ‘D’ flows in addition to the standard 'P' flows of the VLP role.

Enegen and its partner Datamere have collaborated to provide a comprehensive end to end solution for an AMVLP providing support for both 'D' and 'P' flows using their Genstar4 and Genus GridFlo applications. Enegen and Datamere also provide a comprehensive AMVLP market entry service for applicants selecting Genstar4 and Genus for their AMVLP operations. This includes:

• Template responses for all relevant sections of the SAD.
• Professional guidance and advise for the completion of responses pertinent to the applicant.
• Examples of appropriate business process flows for all AMVLP operational scenarios.
• All evidential documents covering Enegen as a supplier and Genstar4 as a product.
• All evidential documents covering Datamere as a supplier and Genus as a product.

Enegen’s Genstar4 software will fully support the requirements of a VTP upon market launch in November 2024. Enegen provides a comprehensive VTP market entry service for applicants selecting Genstar4 for their VTP operations. This includes:

• Template responses for all relevant sections of the SAD.
• Professional guidance and advise for the completion of responses pertinent to the applicant.
• Examples of appropriate business process flows for all VTP operational scenarios.
• All evidential documents covering Enegen as a supplier and Genstar4 as a product.
• Typical timelines for self-assessment are quoted at 5 months however Enegen have guided applications through the process in around 3 months.

Enegen will also perform the required CVA testing with Elexon which includes the VTP data flows.

Follow this link for Enegen's VLP Accreditation Service and AMVLP Accreditation Service.

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