EMRS, on behalf of Low Carbon Contracts Company (LCCC) and Electricity Settlements Company (ESC) would like to reassure Suppliers, CFD Generators and Capacity Providers that we will continue to deliver the Settlement Services for Capacity Market and the CFD schemes while working remotely, and we do not expect closure of the office to result in any issues for our services.
Latest update on the CFD schemes
On 24 April 2020, EMRS, on behalf of Low Carbon Contracts Company (LCCC), would like to confirm to Suppliers the Interim Levy Rate (ILR) and Total Reserve Amount (TRA) for the current Quarterly Obligation Period remains unchanged from the rate previously published.
LCCC issued a Stakeholder Bulletin to confirm without additional revenue, it is highly likely LCCC will have insufficient funds in June. This is mainly due to the significant drop in demand resulting from actions to combat COVID-19. BEIS and LCCC have agreed, BEIS will extend to LCCC a one-off interest-free loan, up to a designated amount, that LCCC will be able to use to cover any shortfall in funds to make payments to CFD Generators this Quarterly Obligation Period (Q2).
EMRS issued EMRC207 to provide details to Suppliers.
Latest update on the Capacity Market schemes
On 24 April 2020, BEIS communicated about amendments they are considering introducing with respect to the GB Capacity Market (CM) in recognition of the potential impact of the COVID-19 pandemic on Capacity Providers. Further details about the consultation are available https://www.gov.uk/government/consultations/capacity-market-proposal-to-relax-the-rules-temporarily-in-response-to-covid-19.
Also, do visit the EMR Delivery Body website for updates on the current Delivery Year.