EN 62325-451-4:2015

SLOVENSKI STANDARD
01-maj-2015
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Framework for energy market communications - Part 451-4: Settlement and
reconciliation business process, contextual and assembly models for European market
Ta slovenski standard je istoveten z: EN 62325-451-4:2015
ICS:
29.240.30 Krmilna oprema za Control equipment for electric
elektroenergetske sisteme power systems
33.200 Daljinsko krmiljenje, daljinske Telecontrol. Telemetering
meritve (telemetrija)
2003-01.Slovenski inštitut za standardizacijo. Razmnoževanje celote ali delov tega standarda ni dovoljeno.

EUROPEAN STANDARD EN 62325-451-4

NORME EUROPÉENNE
EUROPÄISCHE NORM
March 2015
ICS 33.200
English Version
Framework for energy market communications - Part 451-4:
Settlement and reconciliation business process, contextual and
assembly models for European market
(IEC 62325-451-4:2014)
Cadre pour les communications pour le marché de l'énergie Kommunikation im Energiemarkt - Teil 451-4: Abwicklungs-
- Partie 451-4: Processus métier de règlement des écarts et und Abstimmungsgeschäftsprozesse, kontextbezogene
de réconciliation, modèles contextuels et modèles Modelle und Einbindungsmodelle für den europäischen
d'assemblage pour le marché européen Markt
(IEC 62325-451-4:2014) (IEC 62325-451-4:2014)
This European Standard was approved by CENELEC on 2014-12-25. CENELEC members are bound to comply with the CEN/CENELEC
Internal Regulations which stipulate the conditions for giving this European Standard the status of a national standard without any alteration.
Up-to-date lists and bibliographical references concerning such national standards may be obtained on application to the CEN-CENELEC
Management Centre or to any CENELEC member.
This European Standard exists in three official versions (English, French, German). A version in any other language made by translation
under the responsibility of a CENELEC member into its own language and notified to the CEN-CENELEC Management Centre has the
same status as the official versions.
CENELEC members are the national electrotechnical committees of Austria, Belgium, Bulgaria, Croatia, Cyprus, the Czech Republic,
Denmark, Estonia, Finland, Former Yugoslav Republic of Macedonia, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia,
Lithuania, Luxembourg, Malta, the Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Switzerland,
Turkey and the United Kingdom.

European Committee for Electrotechnical Standardization
Comité Européen de Normalisation Electrotechnique
Europäisches Komitee für Elektrotechnische Normung
CEN-CENELEC Management Centre: Avenue Marnix 17, B-1000 Brussels
© 2015 CENELEC All rights of exploitation in any form and by any means reserved worldwide for CENELEC Members.
Ref. No. EN 62325-451-4:2015 E

Foreword
The text of document 57/1449/CDV, future edition 1 of IEC 62325-451-4, prepared by IEC/TC 57
"Power systems management and associated information exchange" was submitted to the IEC-
CENELEC parallel vote and approved by CENELEC as EN 62325-451-4:2015.
The following dates are fixed:
– latest date by which the document has to be implemented at (dop) 2015-09-27
national level by publication of an identical national
standard or by endorsement
– latest date by which the national standards conflicting with (dow) 2017-12-25
the document have to be withdrawn

Attention is drawn to the possibility that some of the elements of this document may be the subject of
patent rights. CENELEC [and/or CEN] shall not be held responsible for identifying any or all such
patent rights.
Endorsement notice
The text of the International Standard IEC 62325-451-4:2014 was approved by CENELEC as a
European Standard without any modification.
In the official version, for Bibliography, the following notes have to be added for the standards indicated:
IEC 61968-11 NOTE Harmonized as EN 61968-11.
IEC 61970-301 NOTE Harmonized as EN 61970-301.

- 3 - EN 62325-451-4:2015
Annex ZA
(normative)
Normative references to international publications
with their corresponding European publications
The following documents, in whole or in part, are normatively referenced in this document and are
indispensable for its application. For dated references, only the edition cited applies. For undated
references, the latest edition of the referenced document (including any amendments) applies.
NOTE 1 When an International Publication has been modified by common modifications, indicated by (mod), the relevant
EN/HD applies.
NOTE 2 Up-to-date information on the latest versions of the European Standards listed in this annex is available here:
www.cenelec.eu.
Publication Year Title EN/HD Year
IEC 62325-301 -  Framework for energy market EN 62325-301 -
communications -- Part 301: Common
Information Model (CIM) extensions for
markets
IEC 62325-351 -  Framework for energy market EN 62325-351 -
communications -- Part 351: CIM
European market model exchange profile
IEC 62325-450 2013 Framework for energy market EN 62325-450 2013
communications -- Part 450: Profile and
context modelling rules
IEC 62325-451-1 -  Framework for energy market EN 62325-451-1 -
communications -- Part 451-1:
Acknowledgement business process and
contextual model for CIM European market
IEC 62325-451-2 -  Framework for energy market EN 62325-451-2 -
communications -- Part 451-2: Scheduling
business process and contextual models
for European market
IEC 62361-100 -  Power systems managment and FprEN 62361-100 -
associated information exchange -
Interoperability in the long term -- Part 100:
CIM profiles to XML schema mapping
IEC/TS 61970-2 -  Energy management system application CLC/TS 61970-2 -
program interface (EMS-API) -- Part 2:
Glossary
IEC 62325-451-4 ®
Edition 1.0 2014-11
INTERNATIONAL
STANDARD
NORME
INTERNATIONALE
colour
inside
Framework for energy market communications –

Part 451-4: Settlement and reconciliation business process, contextual and

assembly models for European market

Cadre pour les communications pour le marché de l'énergie –

Partie 451-4: Processus métier de règlement des écarts et de réconciliation,

modèles contextuels et modèles d’assemblage pour le marché européen

INTERNATIONAL
ELECTROTECHNICAL
COMMISSION
COMMISSION
ELECTROTECHNIQUE
PRICE CODE
INTERNATIONALE
CODE PRIX XA
ICS 33.200 ISBN 978-2-8322-1914-0

– 2 – IEC 62325-451-4:2014 © IEC 2014
CONTENTS
FOREWORD . 5
INTRODUCTION . 7
1 Scope . 8
2 Normative references . 8
3 Terms and definitions . 9
4 Document contextual model and message assembly model basic concepts . 10
4.1 Overview. 10
4.2 European style market package structure . 11
4.3 From the European style market profile to the document contextual model . 13
4.4 From the document contextual model to the message assembly model . 13
4.5 From the assembly model to the XML schema . 13
5 The settlement and reconciliation business process . 13
5.1 Balance responsible party and settlement . 13
5.2 Overall business context . 16
5.3 Use cases . 16
5.4 Process flow . 18
5.5 Business rules for the settlement and reconciliation process . 20
5.5.1 General . 20
5.5.2 Attributes area_Domain.mRID and domain.mRID and quantity . 21
5.5.3 Dependency matrix for type, processType and businessType . 21
5.5.4 Dependency of attributes of the TimeSeries . 23
5.5.5 Rules governing the Point class . 23
5.5.6 Attribute price.amount . 23
6 Contextual and assembly models. 24
6.1 Energy account contextual model. 24
6.1.1 Overview of the model . 24
6.1.2 IsBasedOn relationships from the European style market profile . 26
6.1.3 Detailed Energy account contextual model . 26
6.2 Energy account assembly model . 35
6.2.1 Overview of the model . 35
6.2.2 IsBasedOn relationships from the European style market profile . 36
6.2.3 Detailed Energy account assembly model . 36
6.2.4 Datatypes . 40
6.2.5 Enumerations . 47
7 XML schema . 48
7.1 XML schema URN namespace rules . 48
7.2 Code list URN namespace rules . 48
7.3 URI rules for model documentation . 48
7.3.1 Datatype . 48
7.3.2 Class . 49
7.3.3 Attribute . 49
7.3.4 Association end role name . 49
7.4 EnergyAccount_MarketDocument schema . 50
7.4.1 Schema Structure . 50
7.4.2 Schema description . 52

IEC 62325-451-4:2014 © IEC 2014 – 3 –
Bibliography . 57

Figure 1 – IEC 62325-450 modelling framework . 11
Figure 2 – Overview of European style market profile dependency . 12
Figure 3 – Balance responsible party relations . 15
Figure 4 – Settlement/reconciliation use case . 18
Figure 5 – Sequence diagram of the information flow . 19
Figure 6 – Energy account contextual model . 25
Figure 7 – Energy account assembly model . 35
Figure 8 – EnergyAccount_MarketDocument XML schema structure 1/2 . 50
Figure 9 – EnergyAccount_MarketDocument XML schema structure 2/2 . 51

Table 1 – Dependency table for type, processType and businessType . 22
Table 2 – Dependency table for TimeSeries attributes . 23
Table 3 – Dependency table for price.amount attribute . 24
Table 4 – IsBasedOn dependency. 26
Table 5 – Attributes of Energy account contextual
model::EnergyAccount_MarketDocument . 27
Table 6 – Association ends of Energy account contextual
model::EnergyAccount_MarketDocument with other classes . 28
Table 7 – Attributes of Energy account contextual model::Currency_Unit . 28
Table 8 – Attributes of Energy account contextual model::Domain . 29
Table 9 – Attributes of Energy account contextual model::MarketAgreement . 29
Table 10 – Attributes of Energy account contextual model::MarketEvaluationPoint . 29
Table 11 – Attributes of Energy account contextual model::MarketParticipant . 30
Table 12 – Association ends of Energy account contextual model::MarketParticipant
with other classes . 30
Table 13 – Attributes of Energy account contextual model::MarketRole. 30
Table 14 – Attributes of Energy account contextual model::Measure_Unit . 30
Table 15 – Attributes of Energy account contextual model::Party_MarketParticipant . 31
Table 16 – Attributes of Energy account contextual model::Point . 31
Table 17 – Association ends of Energy account contextual model::Point with other
classes . 31
Table 18 – Attributes of Energy account contextual model::Price . 32
Table 19 – Attributes of Energy account contextual model::Process . 32
Table 20 – Attributes of Energy account contextual model::Series_Period . 32
Table 21 – Association ends of Energy account contextual model::Series_Period with
other classes . 32
Table 22 – Attributes of Energy account contextual model::Time_Period . 33
Table 23 – Attributes of Energy account contextual model::TimeSeries . 33
Table 24 – Association ends of Energy account contextual model::TimeSeries with
other classes . 34
Table 25 – IsBasedOn dependency . 36
Table 26 – Attributes of Energy account assembly
model::EnergyAccount_MarketDocument . 37

– 4 – IEC 62325-451-4:2014 © IEC 2014
Table 27 – Association ends of Energy account assembly
model::EnergyAccount_MarketDocument with other classes . 37
Table 28 – Attributes of Energy account assembly model::Point . 38
Table 29 – Attributes of Energy account assembly model::Series_Period . 38
Table 30 – Association ends of Energy account assembly model::Series_Period with
other classes . 39
Table 31 – Attributes of Energy account assembly model::TimeSeries . 39
Table 32 – Association ends of Energy account assembly model::TimeSeries with
other classes . 40
Table 33 – Attributes of ESMPDataTypes::Action_Status . 40
Table 34 – Attributes of ESMPDataTypes::ESMP_DateTimeInterval . 40
Table 35 – Attributes of ESMPDataTypes::Amount_Decimal . 40
Table 36 – Restrictions of attributes for ESMPDataTypes::Amount_Decimal . 41
Table 37 – Attributes of ESMPDataTypes::AreaID_String. 41
Table 38 – Restrictions of attributes for ESMPDataTypes::AreaID_String . 41
Table 39 – Attributes of ESMPDataTypes::BusinessKind_String . 41
Table 40 – Attributes of ESMPDataTypes::ClassificationKind_String . 42
Table 41 – Attributes of ESMPDataTypes::CurrencyCode_String . 42
Table 42 – Attributes of ESMPDataTypes::EnergyProductKind_String . 42
Table 43 – Attributes of ESMPDataTypes::ESMP_DateTime . 42
Table 44 – Restrictions of attributes for ESMPDataTypes::ESMP_DateTime . 43
Table 45 – Attributes of ESMPDataTypes::ESMPVersion_String . 43
Table 46 – Restrictions of attributes for ESMPDataTypes::ESMPVersion_String . 43
Table 47 – Attributes of ESMPDataTypes::ID_String . 44
Table 48 – Restrictions of attributes for ESMPDataTypes::ID_String . 44
Table 49 – Attributes of ESMPDataTypes::MarketRoleKind_String . 44
Table 50 – Attributes of ESMPDataTypes::MeasurementPointID_String . 44
Table 51 – Restrictions of attributes for ESMPDataTypes::MeasurementPointID_String . 44
Table 52 – Attributes of ESMPDataTypes::MeasurementUnitKind_String . 45
Table 53 – Attributes of ESMPDataTypes::MessageKind_String . 45
Table 54 – Attributes of ESMPDataTypes::ObjectAggregationKind_String . 45
Table 55 – Attributes of ESMPDataTypes::PartyID_String . 45
Table 56 – Restrictions of attributes for ESMPDataTypes::PartyID_String . 46
Table 57 – Attributes of ESMPDataTypes::Position_Integer . 46
Table 58 – Restrictions of attributes for ESMPDataTypes::Position_Integer . 46
Table 59 – Attributes of ESMPDataTypes::ProcessKind_String . 46
Table 60 – Attributes of ESMPDataTypes::Status_String . 46
Table 61 – Attributes of ESMPDataTypes::YMDHM_DateTime . 47
Table 62 – Restrictions of attributes for ESMPDataTypes::YMDHM_DateTime . 47

IEC 62325-451-4:2014 © IEC 2014 – 5 –
INTERNATIONAL ELECTROTECHNICAL COMMISSION
____________
FRAMEWORK FOR ENERGY MARKET COMMUNICATIONS –

Part 451-4: Settlement and reconciliation business process,
contextual and assembly models for European market

FOREWORD
1) The International Electrotechnical Commission (IEC) is a worldwide organization for standardization comprising
all national electrotechnical committees (IEC National Committees). The object of IEC is to promote
international co-operation on all questions concerning standardization in the electrical and electronic fields. To
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with the International Organization for Standardization (ISO) in accordance with conditions determined by
agreement between the two organizations.
2) The formal decisions or agreements of IEC on technical matters express, as nearly as possible, an international
consensus of opinion on the relevant subjects since each technical committee has representation from all
interested IEC National Committees.
3) IEC Publications have the form of recommendations for international use and are accepted by IEC National
Committees in that sense. While all reasonable efforts are made to ensure that the technical content of IEC
Publications is accurate, IEC cannot be held responsible for the way in which they are used or for any
misinterpretation by any end user.
4) In order to promote international uniformity, IEC National Committees undertake to apply IEC Publications
transparently to the maximum extent possible in their national and regional publications. Any divergence
between any IEC Publication and the corresponding national or regional publication shall be clearly indicated in
the latter.
5) IEC itself does not provide any attestation of conformity. Independent certification bodies provide conformity
assessment services and, in some areas, access to IEC marks of conformity. IEC is not responsible for any
services carried out by independent certification bodies.
6) All users should ensure that they have the latest edition of this publication.
7) No liability shall attach to IEC or its directors, employees, servants or agents including individual experts and
members of its technical committees and IEC National Committees for any personal injury, property damage or
other damage of any nature whatsoever, whether direct or indirect, or for costs (including legal fees) and
expenses arising out of the publication, use of, or reliance upon, this IEC Publication or any other IEC
Publications.
8) Attention is drawn to the Normative references cited in this publication. Use of the referenced publications is
indispensable for the correct application of this publication.
9) Attention is drawn to the possibility that some of the elements of this IEC Publication may be the subject of
patent rights. IEC shall not be held responsible for identifying any or all such patent rights.
International Standard IEC 62325-451-4 has been prepared by IEC technical committee 57:
Power systems management and associated information exchange.
The text of this standard is based on the following documents:
CDV Report on voting
57/1449/CDV 57/1501/RVC
Full information on the voting for the approval of this standard can be found in the report on
voting indicated in the above table.
This publication has been drafted in accordance with the ISO/IEC Directives, Part 2.

– 6 – IEC 62325-451-4:2014 © IEC 2014
A list of all parts in the IEC 62325 series, published under the general title Framework for
energy market communications, can be found on the IEC website.
The committee has decided that the contents of this publication will remain unchanged until
the stability date indicated on the IEC website under "http://webstore.iec.ch" in the data
related to the specific publication. At this date, the publication will be
• reconfirmed,
• withdrawn,
• replaced by a revised edition, or
• amended.
IMPORTANT – The 'colour inside' logo on the cover page of this publication indicates
that it contains colours which are considered to be useful for the correct
understanding of its contents. Users should therefore print this document using a
colour printer.
IEC 62325-451-4:2014 © IEC 2014 – 7 –
INTRODUCTION
This standard is one of the IEC 62325 series which define protocols for deregulated energy
market communications.
The principal objective of the IEC 62325 series of standards is to produce standards which
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.
The common information model (CIM) specifies the basis for the semantics for this message
exchange.
The European style market profile is based on different parts of the CIM IEC standard. The
CIM is defined through a series of standards, i.e. IEC 62325-301, IEC 61970-301 and
IEC 61968-11 standards.
This document provides for the European style market profile the settlement and
reconciliation business process that can be used throughout a European style market. This
standard 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.
This document 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.

– 8 – IEC 62325-451-4:2014 © IEC 2014
FRAMEWORK FOR ENERGY MARKET COMMUNICATIONS –

Part 451-4: Settlement and reconciliation business process,
contextual and assembly models for European market

1 Scope
Based on the European style market profile (IEC 62325-351), this part of IEC 62325-451
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 IEC 62325-351 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.
This International Standard provides a uniform layout for the transmission of aggregated data
in order to settle the electricity market. It is however not the purpose of this International
Standard to define the formula to be taken into account to settle or reconcile a market. The
purpose of this standard 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.
2 Normative references
The following documents, in whole or in part, are normatively referenced in this document and
are indispensable for its application. For dated references, only the edition cited applies. For
undated references, the latest edition of the referenced document (including any
amendments) applies.
IEC TS 61970-2, Energy management system application program interface (EMS-API) –
Part 2: Glossary
IEC 62325-301, Framework for energy market communications – Part 301: Common
information model (CIM) extensions for markets
IEC 62325-351, Framework for energy market communications – Part 351: CIM European
market model exchange profile
IEC 62325-450:2013, Framework for energy market communications – Part 450: Profile and
context modelling rules
IEC 62325-451-1, Framework for energy market communications – Part 451-1:
Acknowledgement business process and contextual model for CIM European market
IEC 62325-451-2, Framework for energy market communications – Part 451-2: Scheduling
business process and contextual model for CIM European market

IEC 62325-451-4:2014 © IEC 2014 – 9 –
IEC 62361-100, Power systems management and associated information exchange –
Interoperability in the long term – Part 100: CIM profiles to XML schema mapping
3 Terms and definitions
For the purposes of this document, the terms and definitions of IEC TS 61970-2 apply, as well
as the following.
NOTE Refer to IEC 60050, International Electrotechnical Vocabulary, for general glossary definitions.
3.1
aggregate business information entity
ABIE
aggregate business information entity is a re-use of an aggregate core component (ACC) in a
specified business
[SOURCE: ISO/TS 15000-5:2005, Clause 9, modified (modification of the definition)]
3.2
aggregate core component
ACC
collection of related pieces of business information that together convey a distinct business
meaning, independent of any specific business context
Note 1 to entry: Expressed in modelling terms, this is the representation of an object class, independent of any
specific business context.
[SOURCE: ISO/TS 15000-5:2005, Clause 9, modified (modification of the definition)]
3.3
application program interface
API
set of public functions provided by an executable application component for use by other
executable application components
3.4
assembly model
assembly model is a model that prepares information in a business context for assembly into
electronic documents for data interchange
3.5
based on or IsBasedOn
use of an artefact that has been restricted according to the requirements of a specific
business context
[SOURCE: IEC 62325-450:2013, 3.4]
3.6
business context
formal description of a specific business circumstance as identified by the values of a set of
context categories, allowing different business circumstances to be uniquely distinguished
[SOURCE: UN/Cefact, Unified Context Methodology Technical Specification]
___________
To be published.
– 10 – IEC 62325-451-4:2014 © IEC 2014
3.7
European style market profile
ESMP
the European style market profile, the object of this International Standard
3.8
information model
representation of concepts, relationships, constraints, rules, and operations to specify data
semantics for a chosen domain of discourse
Note 1 to entry: It can provide shareable, stable, and organized structure of information requirements for the
domain context.
3.9
market management system
MMS
computer system comprised of a software platform providing basic support services and a set
of applications providing the functionality needed for the effective management of the
electricity market
Note 1 to entry: These software systems in an electricity market may include support for capacity allocation,
scheduling energy, ancillary or other services, real-time operations and settlements.
3.10
message business information entity
MBIE
aggregation of a set of ABIEs that respects a define set of assembly rules
4 Document contextual model and message assembly model basic concepts
4.1 Overview
IEC 62325-450 defines a set of CIM profiles that follows a layered modelling framework as
outlined in Figure 1 going from the common information model (CIM, IEC 61968-11,
IEC 61970-301 and IEC 62325-301), to different regional contextual models and their
subsequent contextualized documents for information exchange; the final step being the
message specifications for information interchange.

IEC 62325-451-4:2014 © IEC 2014 – 11 –

IEC
Figure 1 – IEC 62325-450 modelling framework
The regional contextual models are the basic core components that are necessary to build
electronic documents for information interchange. This is defined in the European style
market contextual model (IEC 62325-351). These core components are also termed
aggregate core components (ACCs).
A document contextual model is based upon a specific business requirements specification
and is constructed from the contextualisation of the ACCs that can be found in the European
style market contextual model. The contextualised ACCs at this stage are terms aggregate
business information entities (ABIEs) These ABIEs are the constructs that are assembled
together into a specific electronic document to satisfy the information requirements outlined in
the business requirements specification. The transformation from an ACC to an ABIE shall
respect the rules defined in IEC 62325-450.
Once a document contextual model has been built that satisfactorily meets the business
requirements, a message assembly model can be automatically generated from it.
XML schema then may be automatically generated from the message assembly model. If
necessary specific mapping can take place at this stage to transform the CIM class and
attribute names into more market legacy names.
4.2 European style market package structure
Figure 2 describes the main package structure of the European style market profile.

– 12 – IEC 62325-451-4:2014 © IEC 2014

IEC
Figure 2 – Overview of European style market profile dependency
For each business process, a business process package is described in an IEC 62325-451-x
(x from 1 to n) standard. A business process package contains:
• The document contextual model (ABIE) and the automatically generated message
assembly model (MBIE) for each electronic document required to enable the completion of
the business process. Each document is a sub contextual model derived by restriction
from the European style market profile.
• The XML schema of the business document that is automatically generated from the
message assembly model.
The European style market profile (ESMP), as defined in IEC 62325-351, provides the core
components permitted for use in an IEC 62325-451-x standard as all ABIEs shall be “based
on” the IEC 62325-351 core components:
• ESMPClasses: Defining all the semi-contextual classes of the European style market
profile derived by restriction from the CIM model.
• ESMPDataTypes: Defining all the core datatypes used within the ESMP classes.

IEC 62325-451-4:2014 © IEC 2014 – 13 –
All the core components that are used in every electronic document structure have been
harmonized and centralized in the European style market profile. These core components are
consequently the basic building blocks from which all electronic document ABIEs are derived.
4.3 From the European style market profile to the document contextual model
The document contextual model for a given business process is constructed by an information
analyst who identifies all the information requirements necessary to satisfy the business
process.
Once the information requirements have been identified the information analyst identifies the
related ACCs that are available in the European style market profile and contextualises them
to meet the information requirements. This contextualisation step creates a set of aggregate
business information entities (ABIEs).
In a final step the information analyst assembles together into a specific document contextual
model package the ABIEs to form a document model satisfying the business requirements.
4.4 From the document contextual model to the message assembly model
Once the document contextual model has been finalised, the message assembly model may
be automatically generated.
All document contextual models share the same core components and core datatypes. These
are defined in the European style market profile (IEC 62325-351) and are contextualised and
refined in all document contextual models (IEC 62325-451-x series) respecting the rules as
described in IEC 62325-450.
4.5 From the assembly model to the XML schema
The final modelling step applies a standardized set of criteria in order to generate a uniform
XML schema from the assembly model. This transformation process respects the rules
defined in IEC 62361-100.
5 The settlement and reconciliation business process
5.1 Balance responsible party and settlement
As indicated in the IEC 62325-301 “MarketRoleKind enumeration”, in the European style
electricity market, a balance responsible party could be defined as:
• A party that has a contract proving financial security and identifying balance responsibility
with the imbalance settlement responsible for the market balance area entitling the party
to operate in the market. This is the only role allowing a party to nominate energy on a
wholesale level.
NOTE The meaning of the word "balance" in this context signifies that the quantity contracted to provide or to
consume shall be equal to the quantity really provided or consumed.
The role of balance responsible party is linked to the role of balance supplier, i.e.
• A party that markets the difference between actual metered energy consumption and the
energy bought with firm energy contracts by the party connected to the grid. In addition
the balance supplier markets any difference with the firm energy contract (of the party
connected to the grid) and the metered production. There is one balance supplier for each
accounting point.
A party connected to the grid could be defined as:

– 14 – IEC 62325-451-4:2014 © IEC 2014
• A party that contracts for the right to consume or produce electricity at an accounting
point.
Figure 3 describes the different transactions of a balance responsible party that could have to
be considered when carrying out a settlement or a reconciliation process:

IEC 62325-451-4:2014 © IEC 2014 – 15 –

IEC
Figure 3 – Balance responsible party relations
The settlement process enables thus to reconcile all the “commercial transactions” with the
actual measured values either from meters, estimated values or profiles.
class Balance responsible part relations
The balance responsible party could provide ancillary
services and/or balancing services to a system operator.
This transaction is accounted either as "generation" or
"consumption" for the settlement, i.e. increase or decrease of
Balance responsible
generation, demand response, etc.
party
(from Actors)
System operator
(from The trade responsible party could exchange energy with
Contract agreement to be included in
Actors)
other trade responsible party through bilateral (over
the balance responsible party settlement.
the counter) transactions (national or international
transactions).
This transaction is accounted as generation or
consumption for the settlement.
Trade responsible
Balance supplier
Other trade
party
responsible party
(from
(from
Actors)
Actors)
A party connected to the grid
The trade responsible party could buy or sell
could sell or buy its measured
energy on power exchange.
generation or consumption.
This transaction is accounted as "generation"
Metered values are thus
or "consumption" for the settlement, i.e. "in
necessary to define that was
quantity" or "out quantity".
A party connected to the grid could
really injected or withdrawn
sell or buy a block of energy.
from the grid.
This transaction is accounted
Depending upon the meter
either as "generation" or
equipment, profile could be
"consumption" for the settlement.
used to estimate the energy
values.
Power exchange
Party connected to
Party connected to
Party connected to
the grid_1
the grid
(from
the grid_n
Actors)
– 16 – IEC 62325-451-4:2014 © IEC 2014
The main purpose is thus to assess, after the fact, that the balance responsible party was
balanced and if not to compute the deviations and to settle them.
5.2 Overall business context
Within an electricity market, actors are buying/selling energy between them as well as selling
energy to end users or buying energy from generating units. These activities are carried out
from the time of early planning and trading, until the intraday processes.
When the market business processes as well as the operational processes (real-time
operation) are closed, then comes the time to settle or reconcile the market, i.e. to compute
for each balance responsible party what he has injected in a market area and what he has
withdrawn from this market area.
For proper operation of an European style electricity market, each balance responsible party
shall be balanced, i.e. he should have the sufficient “generation” (physical inputs or buying
transactions) to cover its “consumption” (physical outputs or selling transactions) at each
time.
The settlement process is the basic process to compute an imbalance deviation based on
commercial transactions and accounting energy values. It should be pointed out that the
accounting energy values could be energy meter readings, estimated energy meter readings
or profiles (derived from an index value and not based upon a load/generation curve).
Settlement and reconciliation processes are often carried out several times, i.e. typically there
are one or more re runs of the processes based on more accurate accounting energy values.
Typically, the reconciliation process is spread ov
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