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.
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:
Baseload Technologies (such as biomass with CHP);
Intermittent Technologies (such as solar or wind).
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.
Baseload Market Reference Price
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.
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 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 a 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 Strike Price Adjustment calculation details for some CFD Generators is available within the below spreadsheet. This spreadsheet also contains the TLM(D) and BSUoS data for the relevant generator settlement period data used in calculating the Balancing System Charge Difference and the TLM(D) Charges Difference.