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15 September 2016
Suppliers recieved a schdule of their minimium Credit Cover requirements for the upcoming Delivery Year on 29 July. Suppliers’ first deadline to lodge CM Credit Cover for October 2016 is 5pm on 15 September 2016.
Credit Cover can be accepted as either cash or Letter of Credit or a combination of the two. Please note, in order for Credit Cover to be considered to be lodged the cash amount must have been received in the relevant bank account or a valid Letter of Credit must have been received by EMRS.
WP45 – Supplier CM Credit Cover provides information on the process for lodging Credit Cover including the Letter of Credit templates and bank details. We will also be publishing a Guidance document on Supplier CM Credit Cover shortly. EMRC86 also highlights some of the key differences between Credit Cover for Suppliers under the Capacity Market and Contracts for Difference schemes.