Here you will find all the key information on settlement if you are a Capacity Provider.
EMRS Settlement CalendarArrow
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 Run.
Key Payment FiguresArrow
This 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.
Capacity Cleared Price Adjusted for UK Consumer Prices IndexArrow
Capacity Cleared Price (CCP) is adjusted for UK Consumer Prices Index (CPI) for T-4 Auctions only.
This must be calculated no later than three months before the commencement of the Delivery Year. CPI adjusted CCP is calculated in pounds per MW and is the price at which Capacity Payments are payable in respect of Capacity Market Units (CMU) for the Delivery Year. This is detailed within the Electricity Capacity Regulations 2014 (as amended).
The table below illustrates the CCP adjusted for CPI:
|Auction||Delivery Year||Clearing Price*||CPI Adjustment Multiplier**||Adjusted Capacity Cleared Price***|
|2014 T-4||1 October 2018 to 30 September 2019||£19,400.00 MW||1.073635||£20,828.517 MW|
|2014 T-4||1 October 2019 to 30 September 2020||£19,400.00 MW||1.09574||£21,257.356 MW|
|2015 T-4||1 October 2019 to 30 September 2020||£18,000.00 MW||1.070815||£19,274.678 MW|
|2014 T-4||1 October 2020 to 30 September 2021||£19,400.00 MW||1.11140||£21,561.238 MW|
|2015 T-4||1 October 2020 to 30 September 2021||£18,000.00 MW||1.08612||£19,550.214 MW|
|2016 T-4||1 October 2020 to 30 September 2021||£22,500.00 MW||1.08364||£24,381.968 MW|
|2014 T-4||1 October 2021 to 30 September 2022||£19,400.00 MW||1.11960||£21,720.275 MW|
|2015 T-4||1 October 2021 to 30 September 2022||£18,000.00 MW||1.09413||£19,694.420 MW|
|2016 T-4||1 October 2021 to 30 September 2022||£22,500.00 MW||1.09164||£24,561.804 MW|
|2017 T-4||1 October 2021 to 30 September 2022||£8,400.00 MW||1.07205||£9,005.214 MW|
*As stated in the Final Auction: Results T-4 Capacity Market Auction 2014, Auction Results: T-4 Capacity Market Auction 2015, Auction Results: T-4 Capacity Market Auction 2016 and Auction Results: T-4 Capacity Market Auction 2017 for this table it’s been converted from £ per kW to £ per MW.
** “CPI” means the UK Consumer Prices Index (All Items) published monthly by the Office for National Statistics or, if such index ceases to be published, such other index as may replace it.
*** As stated in the Electricity Capacity Regulations 2014 (as amended) to calculate the price in pounds per MW.
G17 – Capacity Provider Payments illustrates a worked example of Capacity Cleared Price (CCP) adjusted for inflation in Appendix 4.
Capacity Volume RegisterArrow
The Capacity Volume Register (CVR) will be published from 10th to 20th Working Day inclusive after the end of the month in which a System Stress Event occurred.
Delivery Year 2017-18 – No System Stress Events
The CVR lists all the CMUs’ over or under delivery positions from a System Stress Event with the aim of facilitating Volume Reallocation amongst CMUs. It also includes the following for each Settlement Period in the previous calendar month which was a System Stress Event and in respect of each CMU:
- The capacity delivered by a CMU (i) during the Settlement Period (j), (E);
- The Adjusted Load Following Capacity Obligation (ALFCO);
- (if any) the Initial Over-Delivery Volume (IOD);
- (if any) the Initial Under-Delivery Volume (IUD);
- The Aggregated traded Capacity Market Volume (ACMV); and
- The adjusted metered output (AE), which is equal to E plus ACMV.
The CVR will be updated and republished by 5pm daily throughout the window. We’d encourage you to check this webpage to view the latest CVR.
- During the Volume Reallocation window any CMVRNs received between 8.30am-4pm will be reflected in the CVR published by 5pm on the same day.
- CMVRNs received after 4pm will be processed the following day.
- At 5pm on WD19 EMRS will publish the CVR with all trades received up to 4pm.
While the Volume Reallocation window is open, your performance during the Stress Event (E) and your DSR baseline will be recalculated if EMRS receives updated data through a later Settlement Run. This may cause changes to your Over-Delivery or Under-Delivery amounts before the close of the window.
The Final Capacity Volume Register will be published Working Day 20. This will include any trades received between 4pm and 5pm on Working Day 19. This will indicate everyone’s positions as at 5pm on Working Day 19, the close of the Volume Reallocation window.
WP48 – Volume Reallocation provides details on how Capacity Providers can participate in Volume Reallocation and the timescales associated with this process.
In the Capacity Market, Capacity Committed CMUs must fulfil their Capacity Obligations during a System Stress Event. After a System Stress Event has occurred, Capacity Providers may use Volume Reallocation if they have under or over-delivered compared to their obligation. This can be done to reduce penalty charges they may face based on their performance during the System Stress Event and provide a mechanism for over-delivering CMUs to receive earlier payments for their excess capacity.