On 29 March 2021, Low Carbon Contracts Company (LCCC) announced it has determined the Total Reserve Amount (TRA) and the Interim Levy Rate (ILR) for Quarterly Obligation Period 1 July 2021 to 30 September 2021 are as follows:
- Total Reserve Amount is £103,253,186.38
- Interim Levy Rate is £8.608/MWh
LCCC communicated this information via the Stakeholder Bulletin. This confirms the Forecasting Team will be hosting a webinar at 10-11am on 29 April 2021 to talk through how the Quarterly Obligation Period 1 July 2021 to 30 September 2021 has been forecasted. To register for the webinar please use this registration link.
Also, LCCC confirm they have now extended its 15-month forecast to cover three additional quarters in the future. This will provide Suppliers a deeper insight and understanding of the longer term CfD costs. The data is presented in the CfD Advanced Forecast Dashboard and on the LCCC Data Portal.
What are the key dates I need to be aware of?
The table below shows the key dates for the 1 July 2021 to 30 September 2021 Quarterly Obligation Period.
|13 April 2021||Suppliers Reserve Payment Notice issued|
|30 June 2021||Suppliers to ensure their Credit Cover lodged is sufficient for ILR of £8.608/MWh from the 1 July 2021 to 30 September 2021|
|1 July 2021||ILR of £8.608/MWh applies for 1 July 2021 to 30 September 2021|
|12 July 2021||Suppliers to be invoiced for the first Interim Rate payment based on £8.608/MWh applies for 1 July 2021 to 30 September 2021|
EMRS Settlement Calendar will provide the dates for when invoices will be generated and when payments are due. Key Payment Figures will provide details of the ILR and the TRA for the Quarterly Obligation Periods. These are both available on the Settlement Data webpage on the EMRS website.
What are my requirements against Interim Rate payments and Credit Cover?
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 Suppliers need to lodge additional Credit Cover the process is detailed in WP42 – Supplier CFD Credit Cover and G5 – Supplier CFD Credit Cover.
Where can I locate information on how my Reserve Payment is calculated?
G3 – CfD Reserve Payment provides information on how the Reserve Payments are calculated.