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 |
| 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 will need to upload meter data. More details to be shared soon. | TBC | TBC |
| 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 don’t provide meter data to Piclo. Instead, FSPs provide meter data to Market Gateway. | N/A | 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.
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
PDF invoices are automatically generated and available for download in Piclo.
