On 14 November 2023, LCCC issued a Stakeholder Bulletin to confirm for the Quarterly Obligation Period 1 January 2024 to 31 March 2024 the following:
- Adjusted the Interim Levy Rate to £4.540/MWh from 4.355/MWh
- Adjustment to the Total Reserve Amount to £467,160,775.24 from £559,042,630.40
To view LCCC’s calculations, please visit the CfD Levy Dashboards. For background information the confirms the reasons for the adjustments being made in advance of the Quarterly Obligation Period.
EMRS Settlement Calendar will provide the dates for when invoices will be generated and when payments are due. The Key Payment Figures for 2023/24 have been updated to reflect these changes and are located on the Settlement Data for Suppliers webpage.
Suppliers must make Interim Rate payments and provide Credit Cover if they supply electricity within the Quarterly Obligation Period. Suppliers are required to maintain their Credit Cover requirement using the ILR applicable for the Quarterly Obligation Period.
We previously published a news item for Quarterly Obligation Period 1 January 2024 to 31 March 2024, where more information about the process for lodging Credit Cover and specific Credit Cover deadlines is available.
What are the key dates I need to be aware of?
The table below shows the key dates for the 1 January 2024 to 31 March 2024 Quarterly Obligation Period following this announcement.
|29 December 2023||Suppliers ensure sufficient Credit Cover lodged for ILR of £4.540/MWh|
|1 January 2024||ILR of £4.540/MWh applies|
|10 January 2024||Suppliers invoiced for the first ILR payment based on £4.540/MWh|
Who do I contact if I have a query?
|EMRS||Interim Levy Rate Notice, Quarterly Supplier Reconciliation Invoice, and Credit Cover||020 7380 4333||[email protected]|
|LCCC||Calculation of the 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]|