- This event has passed.
21 January 2016
We’ve issued EMRC73 and notified Suppliers, this included Supplier Company email, Finance Authorities and Credit Cover Contacts how to request the return of CFD Credit Cover. From Thursday 21 January 2016, Suppliers will not be required to provide Credit Cover due to the Interim Levy Rate being adjusted to £0.000 per MWh.
How do I request the return of my Credit Cover?
The process and timescales associated to the return of Credit Cover are detailed in WP42 – Supplier CFD Credit Cover.
The below highlights what the Suppliers needs to do as part of the request:
- From Thursday 21 January 2016 Suppliers can email [email protected] requesting the return of Credit Cover.
- The request must include the EMR Party ID, as well as the type of Credit Cover and amount of Credit Cover to be returned.
- If a Letter of Credit (LoC) has been lodged include the LoC reference number and the issuing bank.
- The request must be sent by either the Supplier’s Credit Cover contact, a Finance Authority or the Primary Party Authority.
To assist you in the process, we have included an example template email in WP42 – Supplier CFD Credit Cover, located in Appendix 3.
EMRS will validate requests once received from Suppliers. If successfully validated, EMRS will issue the request to Low Carbon Contracts Company (LCCC) to seek approval to either transfer cash or return LoCs via registered post back to the Supplier.
EMRC73 provides further details to support Suppliers.
- 21 January 2016