Providers still submit an FPN to National Grid (NGESO) so the grid knows what to expect in real-time.
P376 solves this by "decoupling" the data used for grid instructions from the data used for payment.
Before P376, energy providers were required to submit a , which is a forecast of exactly how much energy they intended to generate or consume. For large power stations, this is straightforward. However, for "Virtual Lead Parties" (VLPs) managing many small household or business assets, predicting a precise baseline is extremely difficult. Providers still submit an FPN to National Grid
Allows specific sites within a group to be marked as "inactive" if they are experiencing abnormal behavior (like maintenance), preventing them from skewing the group's baseline data.
By reducing financial risk, P376 encourages more independent aggregators and customers to participate in the market, leading to a more efficient and lower-cost transmission system. Implementation Timeline Proposed: December 2018. Approved by Ofgem: August 6, 2021. Go-Live Date: February 23, 2023. Other Potential Meanings For large power stations, this is straightforward
Implements standardized algorithms (like the BL01 methodology) that account for differences between working days and weekends.
Understanding P376: The Shift to Baselining in Energy Settlement Introduction By reducing financial risk, P376 encourages more independent
P376 ‘Utilising a Baselining Methodology to set Physical ... - Elexon