On 16 December 2022, LCCC issued a Stakeholder Bulletin to announce the following:
Quarterly Obligation Period 1 January 2023 to 31 March 2023
- Adjustment to the Total Reserve Amount (TRA) from £100,000,00.00 to £300,000,000.00
Quarterly Obligation Period 1 April 2023 to 30 June 2023
- Interim Levy Rate is £0.000/MWh
- Total Reserve Amount (TRA) is £171,348,558.59
Notices will be issued to Suppliers to confirm the above changes.
The Key Payment Figures for 2022/23 and 2023/24 have been updated to reflect these changes and are located on the Settlement Data for Suppliers webpage.
Updates focused on the Quarterly Obligation Period 1 January 2023 to 31 March 2023 (Q1 2023)
LCCC will be monitoring the market prices closely, and may be required to consider an adjustment of the Interim Levy Rate, Total Reserve Amount or both, either upwards or downwards, during the Quarter Obligation Period. We will support LCCC in keeping Suppliers informed.
When will the Reserve Payment be invoiced to Suppliers?
The Reserve Payment will be invoiced as part of the next Quarterly Reconciliation scheduled on the 11 January 2023.
Where can I locate information on how my Reserve Payment is calculated?
G3 – CfD Reserve Payment provides information on how Suppliers Reserve Payment is calculated. Further information is available on the Stakeholder Support – CfD Supplier webpage.
Updates focused on the Quarterly Obligation Period 1 April 2023 to 30 June 2023 (Q2 2023)
LCCC has completed the Interim Levy Rate (ILR) and Total Reserve Amount (TRA) forecasts for Q2 2023. The ILR and TRA determination was run on 6 December 2022 and the market information input included data up to and including 5 December 2022.
For further detail on the timings involved in calculating the ILR and TRA forecasts and how these fit into the quarterly reconciliation process, please refer to this presentation. Please note, whilst the presentation was delivered as part of our Q3 2022 ILR and TRA webinar on 28 April 2022, the process is comparable across quarters.
LCCC will be monitoring the market prices closely, and may be required to consider an adjustment of the Interim Levy Rate, Total Reserve Amount or both, either upwards or downwards, prior to the start of the Quarter Obligation Period. We will support LCCC in keeping Suppliers informed.
When will the Reserve Payment be invoiced to Suppliers?
You will receive confirmation of your share of the Total Reserve Amount as part of the next Quarterly Reconciliation on 11 January 2023. The Reserve Payment will be invoiced as part of the Quarterly Reconciliation scheduled on the 13 April 2023.
Where can I locate information on how my Reserve Payment is calculated?
G3 – CfD Reserve Payment provides information on how Suppliers Reserve Payment is calculated. Further information is available on the Stakeholder Support – CfD Supplier webpage.
What are my requirements against Interim Rate payments and Credit Cover?
From 1 April 2023, Suppliers will be required to maintain Credit Cover using the ILR of £0.000/MWh. Further information on the process on lodging or requesting excess Credit Cover is available in WP42 – Supplier CfD Credit Cover.
Where can I locate information on when invoices are generated?
EMRS Settlement Calendar will provide the dates for when invoices will be generated and when payments are due. Key Payment Figures will provide details of the ILR and the TRA amounts for each Quarterly Obligation Periods. These are both available on the Settlement Data webpage on the EMRS website.
Who do I contact if I have a query?
Contact | Query Topic | Telephone | |
EMRS | Reserve Payment, Total Reserve Amount & Interim Levy Rate Notice, Quarterly Supplier Reconciliation Invoice, and Credit Cover | 020 7380 4333 | [email protected] |
LCCC | Calculation of the Total Reserve Amount and Interim Levy Rate | 020 7211 8881 | [email protected] |
LCCC | General queries about LCCC or the management of the CFD scheme | 020 7211 8881 | [email protected] |