On this page you can find key information that is used in EMR Settlement calculations.
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EMRS Settlement Calendar
The EMRS Settlement Calendar provides a schedule of when payments for Suppliers, CFD Generators and Capacity Provider will be invoiced, when payment is due, and if applicable, the Settlement Date and the Settlement Code. It covers the period 1 April 2016 to 31 March 2017. Further information is included in the introduction tab of the calendar.
EMRS Settlement Calendar 2017/2018
EMRS Settlement Calendar 2016/2017
Key payment figures
The key figures for payments document sets out the main rates and amounts used in the calculation of payments under both the Contracts for Difference (CFD) and Capacity Market (CM) schemes. For example, it includes the interim levy rate for the CFD scheme and weighting factors for the CM scheme.
Key Figures for Payments in 2017/18
Key figures for payments in 2016/17
Market Reference Prices
Market Reference Prices are used to calculate CFD Generator payments. There are two classifications of generation under a CFD contract and each has its own Market Reference Price:
- Intermittent Technologies (such as solar or wind);
- Baseload Technologies (such as biomass with CHP).
EMRS calculates both these reference prices, known as the Intermittent Market Reference Price (IMRP) and the Baseload Market Reference Price (BMRP), on behalf of Low Carbon Contracts Company.
The BMRP is calculated on a seasonal basis pursuant to condition 15 of the Contract for Difference Standard Terms and Conditions. Baseload prices are calculated using a traded volume weighted average based on forward season data received from LEBA. The BMRP is published in April and October of each year.
The Intermittent Market Reference Price is calculated using day-ahead data received from EPEX SPOT and N2EX. An IMRP is calculated for every hour of the day pursuant to condition 21 of the Contract for Difference Standard Terms and Conditions.
For more information about how Market Reference Prices are used the please see the Contracts for Difference page.
Baseload Market Reference Price
|Summer 2017||43.52 £/MWh|
|Winter 2016||43.67 £/MWh|
|Summer 2016||34.85 £/MWh|
Intermittent Market Reference Price January 2017 onwards
Intermittent Market Reference Price July – December 2016
Strike Price Adjustments
Each year Strike Price Adjustments are calculated for the CFD contracts, which then apply from the relevant Indexation Anniversary. The purpose of these adjustments is to keep the Strike Prices aligned with movements in CPI inflation and electricity market charges (if applicable in the CFD contract).
The Balancing System Charge and TLM(D) Charge are each a Strike Price Adjustment, based on the Actual Balancing System Charge and the Actual TLM Charge respectively, as detailed in the Contract for Difference Standard Terms and Conditions.
The Actual Balancing System Charge is sourced from relevant data provided by the GB System Operator (in the case of BSUoS Charges) or ELEXON (in the case of RCRC Credits) for the period from 01 February in the calendar year immediately preceding the relevant Balancing System Charge Report Year to 31 January in such Balancing System Charge Report Year.
The Actual TLM(D) Charge is sourced from relevant data provided by ELEXON for the period from 01 January in the calendar year immediately preceding the relevant TLM(D) Charge Report Year to 31 December in such TLM(D) Charge Report Year.
The following spreadsheets contain copies of relevant generator settlement period data used in calculating the Balancing System Charge Difference and the TLM(D) Charges Difference.
For more information about how Strike Prices are used the please see the Contracts for Difference page. For more information about how Strike Prices are adjusted please see the Indexation section of the LCCC Payments page.