Settlement Data for CfD Generators

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.

For more information about how Market Reference Prices are used the please see the Contracts for Difference page.

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.

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.

Baseload Market Reference Price

Season	BMRP
Winter 2023	128.81 £/MWh
Summer 2023	207.07 £/MWh
Winter 2022	405.26 £/MWh
Summer 2022	168.25 £/MWh
Winter 2021	102.45 £/MWh
Summer 2021	48.47 £/MWh
Winter 2020	44.91 £/MWh
Summer 2020	39.41 £/MWh
Winter 2019	55.98 £/MWh
Summer 2019	53.79 £/MWh
Winter 2018	62.55 £/MWh
Summer 2018	44.03 £/MWh

Intermittent Market Reference Price

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.

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 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.

LCCC has published a ‘Strike Price Adjustment Guidance’ which is intended to help CfD Generators understand the series of calculations that result in a Generators Annual Adjusted Strike Price. The document provides non-binding guidance and simplified worked examples of Strike Price adjustments for all contracts.

Spreadsheets saved here.

For more information about how Strike Prices are used, 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.

In instances where EMRS does not receive metered data for any Settlement Period on any Settlement day, it needs to run the settlement calculations in time for the invoices to be generated. This is mainly for two reasons:

• Meter Point Administration Number (MPAN) data has not been provided by the Data Aggregator; or
• Balancing Mechanism Unit (BMU) data from the Settlement Administration Agent (SAA) is delayed.

In order to maintain accuracy and reduce the impact on future reconciliation runs EMRS will use logic to provide estimates of missing data so that invoices can be generated according to the EMR Settlement Calendar. The logic used to default data will depend upon the type of EMR Party that has missing data and what data EMRS has available to use in the defaulting calculation. G13 – Defaulting Missing Data provides further details to support Suppliers and CfD Generators on this process. In the event, data default is applied Suppliers and CfD Generators will receive notification.

There are two types of email notification:

• Missing Metered Volumes via D0357
• Missing Metered Volumes from the Settlement Report

When a ‘Missing metered volumes from the Settlement Report’ notification is sent further information will be published below.