Quarterly Obligation Period 1 July 2023 to 30 September 2023
- Interim Levy Rate to £2.789/MWh
- Total Reserve Amount £373,510,977.62
LCCC have provided details in the Stakeholder Bulletin about the determination. For further detail on LCCC’s calculations, please refer to our online CfD Levy Dashboards.
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.
When will the Reserve Payment be invoiced to Suppliers?
You will receive confirmation of your share of the Total Reserve Amount as part of the next Quarterly Reconciliation on 13 April 2023. The Reserve Payment will be invoiced as part of the Quarterly Reconciliation scheduled on the 11 July 2023.
What are my requirements against Interim Rate payments and Credit Cover?
From 1 July 2023, Suppliers will be required to maintain Credit Cover using the ILR of £2.789/MWh.
Further information on the process on lodging or requesting excess Credit Cover is available in WP42 – Supplier CfD Credit Cover and G5 – Supplier CfD Credit Cover. Further information is available on the Stakeholder Support – CfD Supplier webpage.
Can a Supplier request the return of Credit Cover?
WP42 – Supplier CfD Credit Cover provides details on the request of return of Credit Cover via the Service Desk. Credit Cover will be released subject to the Supplier holding excess Credit Cover and not having any outstanding obligations.
What are the key dates I need to be aware of?
The table below shows the key dates for the 1 July 2023 to 30 September 2023 Quarterly Obligation Period following this announcement.
|13 April 2023||Suppliers receive confirmation of share of the Total Reserve Amount|
|30 June 2023||Suppliers ensure sufficient Credit Cover lodged for ILR of £2.789/MWh|
|1 July 2023||ILR of £2.789/MWh applies|
|11 July 2023||Suppliers invoiced for the first ILR payment based on £2.789/MWh and the Reserve Payment will be invoiced.|
Who do I contact if I have a query?
|EMRS||Reserve Payment, Total Reserve Amount and Interim Levy Rate Notice, Quarterly Supplier Reconciliation Invoice, and Credit Cover||020 7380 4333||[email protected]|
|LCCC||Calculation of the Total Reserve Amount and Interim Levy Rate||020 7211 8881||[email protected]|