Settlement
Depending on the market, Flexibility Service Providers (FSPs) will manage their meter data, receive settlement reports, and access invoices via Piclo. This article explains how settlement works on Piclo, the key differences between markets, and the actions FSPs need to take.
Markets with Settlement
| Market (Region - SO - market) | Meter data required | When is settlement run? | Baseline type | Calcula |
| UK - NESO - LCM Intra-Day and Day Ahead | FSPs need to provide half-hourly meter data for assets used in dispatches. | Settlement is run in the second week of every month for the previous month. | Historical | |
| UK - SPEN - Month Ahead | FSPs need to provide half-hourly meter data for assets used in dispatches. | Settlement is run in the second week of every month for the previous month. | Historical | |
| UK - SPEN - Long Term | FSPs need to provide half-hourly meter data for assets used in dispatches. | Settlement is run in the second week of every month for the previous month. | Historical | |
| CT - Eversource and UI | FSPs need to provide quarter hourly meter data. | Settlement is run in the second week of every month for the previous month | 10 out of 10 historical days, with adjustments made 2 hours before the event start, excluding holidays and days with ISO-NE or ConnectedSolutions events. | |
| ITA - Enel | FSPs don’t need to provide meter data via Piclo. This is managed via an integration. | Settlement is run in the second week of every month for the previous month. | Nominal | |
| UK - NGED | FSPs provide half-hourly meter data via Piclo. It is then forwarded to the Flexible Power Portal to calculate invoices. | Settlement is run in the second week of every month for the previous month. | Historical |
Managing meter data
Depending on the market, FSPs need to provide both baseline data and actual meter data. Based on dispatches and bids, Piclo provides a customised template for meter data submission. FSPs can download the template from the “Settlement Data Required” section or alternatively upload meter data via API.
Meter data needs to be provided for particular MPANs or asset references. If the "Settlement Data Required" template does not look right, please contact support.
Tip: Converting MW to kWh for CT markets (Eversource & UI). When uploading asset level or operational data, ensure you convert MW into kWh for accuracy. Example calculation: If an asset operates at 0.07 MW for 15 minutes:
0.07 MW x 1000 kW x 0.25 = 17.5 kWh
Settlement calculations
Settlement performance is calculated monthly for each market. FSPs can download a detailed settlement report. Settlement calculations account for availability and utilisation payments.
For some markets such as LCM, a supplementary payment (ABSVD) may be applied or in case of under-performance a penalty may apply.
FSPs can review detailed performance and, if necessary, raise disputes.
Invoices
In some markets, System Operators issue their own invoices. For all other markets, PDF invoices are automatically generated and made available for download in Piclo.
