Posted on: 18/03/2024

On 18 March 2024, LCCC issued a Bulletin to confirm for the Quarterly Obligation Period 1 July 2024 to 30 September 2024 as follows:

• Interim Levy Rate is £11.816/MWh
• Total Reserve Amount is £213,397,705.39

Suppliers will receive formal notices to confirm this announcement. LCCC have provided details in the Bulletin about this determination. For further detail on LCCC’s calculations, please refer to the CfD Levy Dashboards.

On the Settlement Data for Suppliers webpage, the updated Key Payment Figures for 2024/25 are now available.

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.

If a Supplier is required to lodge additional Credit Cover, please ensure you have sufficient Credit Cover lodged by 5:00pm on 28 June 2024.

To help Suppliers we have provided the following useful Frequently Asked Questions (FAQs).

What is the process for lodging Credit Cover or additional Credit Cover?

WP42 – Supplier CfD and Nuclear RAB Credit Cover provides details on the process for lodging Credit Cover including the Letter of Credit templates (p37-46) and the approved bank account details for cash Credit Cover (p6).

In order for Credit Cover to be considered;

  • Cash amount must have been received in the relevant bank account;
  • Valid Letter of Credit received electronically; and
  • Received by 5:00pm on 28 June 2024

PLEASE NOTE: The bank account details and Letter of Credit templates are different to those used for CM Credit Cover.

How do I calculate my CfD Credit Cover?

The minimum Credit Cover requirement is a Supplier’s metered volumes for 21 days reference period multiplied by the Interim Levy Rate.

G5 – Supplier CfD and Nuclear RAB Credit Cover provides further details and an example to illustrate how to calculate your Credit Cover.

What is my current CfD Credit Cover balance?

You can locate your CfD Credit Cover balance in the latest Daily Credit Cover Report sent to your company email and available to download on My EMRS.

Please see item J2022 (Column H) on the report which reflects the Total Credit Cover held (combination of cash and LoC value) as of the day. Items names and further details are available within the Data Transfer Catalogue (DTC).

Where can I locate more information on CfD Credit Cover?

We have summarised information on the Stakeholder Support – CfD Supplier webpage.

For more detail on Credit Cover please refer to WP42 – Supplier CfD and Nuclear RAB Credit Cover and G5 – Supplier CfD and Nuclear RAB Credit Cover.

When will I receive my invoice for my Reserve Payment?

Suppliers will receive confirmation of their share of the Total Reserve Amount as part of the next Quarterly Reconciliation on 10 April 2024.

The Reserve Payment is part of the subsequent Quarterly Reconciliation within the Quarterly Obligation Period and invoiced on the 10 July 2024.

Where can I locate information on how my Reserve Payment is calculated?

G3 – CfD and Nuclear RAB Reserve Payment provides information on how Suppliers Reserve Payment is calculated. Further information is available on the Stakeholder Support – CfD Supplier webpage.

What are the key dates I need to be aware of?

The table below shows the key dates for the 1 July 2024 to 30 September 2024 Quarterly Obligation Period following this announcement.

Date Activity
10 April 2024 Suppliers receive confirmation of share of the Total Reserve Amount
28 June 2024 Suppliers ensure sufficient Credit Cover lodged for ILR of £11.816/MWh
1 July 2024 ILR of £11.816/MWh applies
10 July 2024 Suppliers invoiced their Reserve Amount
10 July 2024 Suppliers invoiced for the first ILR payment based on £11.816/MWh

Who do I contact if I have a query?

Contact Query Topic Telephone Email
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]