What is BS EN 62325-451-4 - Framework for energy market communications about?
BS EN 62325 is a series on a framework for energy market communications. Framework for energy market communications is commodity markets that deal specifically with the trade and supply of energy. BS EN 62325-451-4 specifies a package for the settlement and reconciliation business process and the associated document contextual model, assembly model and XML schema for use within European style markets.
The relevant aggregate core components (ACCs) defined in BS EN 62325-451-4 have been contextualised into aggregated business information entities (ABIEs) to satisfy the requirements of this business process. The contextualised ABIEs have been assembled into the relevant document contextual models. Related assembly models and XML schema for the exchange of information between market participants are automatically generated from the assembled document contextual models.
BS EN 62325-451-4 provides a uniform layout for the transmission of aggregated data in order to settle the electricity market. It is however not the purpose of BS EN 62325-451-4 to define the formula to be considered to settle or reconcile a market. The purpose of BS EN 62325-451-4 is only to enable the information exchange necessary to carry out the computation of settlement and reconciliation. The settlement process or reconciliation process is the way to compute the final position of each market participant as well as its imbalance amounts.
Who is BS EN 62325-451-4 - Framework for energy market communications for?
BS EN 62325-451-4 on a framework for energy market communications is useful for:
- Telecommunication sector
- Business sector
- Design engineers
- Software engineers
- Quality control personnel
Why should you use BS EN 62325-451-4 - Framework for energy market communications?
BS EN 62325-451-4 is one of the IEC 62325 series which define protocols for deregulated energy market communications. The principal objective of BS EN 62325-451-4 is to produce standards that facilitate the integration of market application software developed independently by different vendors into a market management system, between market management systems and market participant systems. This is accomplished by defining message exchanges to enable these applications or systems access to public data and exchange information independent of how such information is represented internally.
BS EN 62325-451-4 provides the settlement and reconciliation business process that can be used throughout a European style market. BS EN 62325-451-4 was originally based upon the work of the European Transmission System Operators (ETSO) Task Force EDI (Electronic Data Interchange) and then on the work of the European Network of Transmission System Operators (ENTSO-E) Working Group EDI. BS EN 62325-451-4 describes the settlement and reconciliation process for wholesale markets; it is brought to the attention of the reader that it is envisaged to initiate work on a combined reconciliation process for retail and wholesale markets. Using BS EN 62325-451-4 you can specify a package for the settlement and reconciliation business process and the associated document contextual model, assembly model and XML schema for use within European style markets.
What’s changed since the last update?
BS EN 62325-451-4:2017 supersedes BS EN 62325-451-4:2015. BS EN 62325-451-4:2017 includes some technical changes with respect to BS EN 62325-451-4:2015. These include:
- Removal of the attribute’s “quantity” and “secondary quantity” of the class “Point”
- Introduction of the class “Quantity” from IEC 62351-351 UML package, with the following attributes “quantity” as mandatory and “quality” as optional, and create two associations 1.1 between the class “Quantity” and the class “Point” with the role “In Quantity” and “Out Quantity”
- Introduction of the class “Reason” from IEC 62351-351 UML package, with the following attributes “code” as mandatory and “text” as optional and create an association 0. * From the class “Reason” to the class “Point” with the role “Reason”
