Settlement

Overview of the Settlement Process on Piclo

This guide explains how settlement works on Piclo and the setup required by System Operators.

Settlement is typically run at the start of each month for the previous month. For example, in January, settlement calculations are based on dispatches and availability payments from December.

FSP Meter Data Submission

Ahead of settlement, FSPs are usually required to upload 30- or 15-minute meter data for each MPAN or asset group unless this data is provided by the System Operator through a DERMs integration.

Piclo calculates settlement values based on the following settings, which are configured per market:

1. Dispatch Configuration: Defines rules, such as how quickly FSPs must accept dispatches. Learn more about Dispatches.
2. Baseline Methodology: Specifies whether baselines are based on historical data or nomination and how many pre-event days are included.
3. Performance Methodology: Determines how over- or under-delivery is assessed and whether penalties apply.

Accessing Settlement Reports

System Operators can view and download settlement reports for each FSP and market directly through Piclo. Reports include a version history, showing if the settlement process was rerun (e.g., due to missing meter data that was later completed with Piclo’s support).

Settlement calculations and provided data can be reviewed by downloading each settlement report.

Invoices

System Operators have two options for managing invoices:

1. Off-Platform Invoicing: Issue invoices directly to FSPs outside of the Piclo platform.
2. On-Platform Invoicing: Publish invoices within the Piclo platform for FSPs to view and download.

FAQs

1. How often is settlement run on Piclo?

Piclo currently runs settlement for several UK markets, one Italian market, and one US market at the beginning of each month for the previous month. If you have specific timing needs, please discuss them with your Account Manager.

2. Can I review settlement calculations before they are published?

Yes, you can review settlement calculations before they are published. This is especially helpful in new markets to verify that totals and calculations are accurate before they’re made available to FSPs.

3. What happens if an FSP doesn’t provide meter data on time?

If meter data is incomplete or missing, Piclo will support the resolution process. In some cases, default or estimated values may be used to ensure settlement can proceed without delays.

4. Can I publish invoices directly in Piclo?

Yes, you can choose to publish invoices directly in the Piclo platform for FSPs to view and download. Alternatively, you can issue invoices off-platform if that suits your process better.

5. How are disputes handled in Piclo?

FSPs can review settlement reports and raise disputes if there are discrepancies. The settlement process can be rerun multiple times with adjusted data if required to ensure accuracy.

6. I use an existing system for settlement and meter data management. Can this system be used with Piclo?

Yes, Piclo can integrate with existing systems, such as DERMs or other platforms, for settlement and meter data management. Integration options depend on the system you use and the market requirements. Contact your Account Manager to explore integration possibilities and ensure smooth data sharing.