Originally Posted by
corporate-wage-slave
Yes, you're fine. If you are not going, then you can get a full refund. Compensation will be possibly, probably payable, since BA could not in any event rebook you within certain time limits. It makes no difference whether you go or not, the compensation is due.
I thought that you lose the right to EC261 if you cancel the booking ie - not accept the replacement flight and simply get your money back. Doesn't EC261 only kick in if the OP takes the offered (or another) flight that gets them into NCE later (or earlier!) than the time limit allowed?