Settlement Data for All Roles

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.

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 Total Annual Capacity Payments for a specific Delivery year in the CM schemes.

 

Monthly Weighting Factors are produced annually and used in the calculation of payments under the Capacity Market (CM) scheme in accordance with Schedule 1 of The Electricity Capacity Regulations 2014.

The table below includes the Monthly Weighting Factors for Delivery Year from 1 October 2023 to 30 September 2024:

Month	Weighting Factor (%)
October	8.380579787
November	8.930509763
December	9.860162114
January	10.053927678
February	8.573247574
March	9.072292639
April	7.931914713
May	7.592097804
June	7.077413906
July	7.434257582
August	7.503479847
September	7.590116592

The table below includes the Monthly Weighting Factors for Delivery Year from 1 October 2024 to 30 September 2025:

Month	Weighting Factor (%)
October	8.232537543
November	9.097099115
December	9.805377105
January	10.081017868
February	8.653466267
March	9.109261050
April	7.878323808
May	7.420295955
June	7.216985236
July	7.448957596
August	7.464962507
September	7.591715951

Capacity Provider’s Capacity Payments, Supplier’s Capacity Market Supplier Charge and Credit Cover requirements will vary from month to month as the above Monthly Weighting Factors are used to calculate payments.

Historical Weighting Factors are available in the ‘Key Payment Figures’ option on this webpage.

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.

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
Summer 2024	80.52 £/MWh
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.

All Strike Price Adjustment (SPA) spreadsheets are now published on LCCC’s website.

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

Capacity Cleared Price (CCP) is adjusted for UK Consumer Prices Index (CPI) for T-4 and T-3 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 for Delivery Year from 1 October 2023 to 30 September 2024:

Auction	Clearing Price*	CPI Adjustment Multiplier**	Adjusted Capacity Cleared Price***
2014 T-4	£19,400.00 MW	1.308300	£25,381.03 MW
2015 T-4	£18,000.00 MW	1.278541	£23,013.73 MW
2016 T-4	£22,500.00 MW	1.275621	£28,701.47 MW
2017 T-4	£8,400.00 MW	1.252733	£10,522.96 MW
2019 T-3	£6,440.00 MW	1.218571	£7,847,60 MW
2019 T-4	£15,970.00 MW	1.193988	£19,067.99 MW

The table below illustrates the CCP adjusted for CPI for Delivery Year from 1 October 2024 to 30 September 2025:

Auction	Clearing Price*	CPI Adjustment Multiplier**	Adjusted Capacity Cleared Price***
2014 T-4	£19,400.00 MW	1.355878	£26,304.03 MW
2015 T-4	£18,000.00 MW	1.325036	£23,850.64 MW
2016 T-4	£22,500.00 MW	1.322010	£29,745.22 MW
2017 T-4	£8,400.00 MW	1.298290	£10,905.64 MW
2019 T-3	£6,440.00 MW	1.262885	£8,132.98 MW
2019 T-4	£15,970.00 MW	1.237408	£19,761.41 MW
2020 T-4	£18,000.00 MW	1.219968	£21,959.43 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, Auction Results: T-4 Capacity Market Auction 2017, Final Auction Results: T-3 2019 and Final Auction Results: T-4 Capacity Market Auction 2020 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.

On behalf of Electricity Settlements Company (ESC) we publish the Capacity Market Credit Cover Default Register in relation to the Electricity Capacity (Supplier Payment etc.) Regulations 2014, as amended and the Capacity Market Non-Payment Register in relation to the Electricity Capacity Regulations 2014, as amended.

Capacity Market Non-Payment Register sets out the names and details relating to Suppliers and Capacity Providers who have not paid an invoice under these regulations by 5:00 pm on the payment due date.

Credit Cover Default Register contains details of Suppliers who have entered Stage 1 or Stage 2 Credit Cover Default. Suppliers who subsequently lodge Credit Cover whilst in Stage 1 Default will be removed from the register. Suppliers who enter Stage 2 Default will remain on the register up to 295 Working Days following the end of the relevant Delivery Year.

On behalf of Electricity Settlements Company, we publish the Capacity Market Metering Registers. The registers maintain details that are essential in the administration and settlement of the Capacity Market, including:

• Metering Test requirements
• Metering Assessment requirements
• Status of DSR Components
• Metering identification codes and if there are any changes to these

The registers validate metered data to ensure Capacity Providers are complying with Chapter 7 of the Capacity Market Rules. The registers will be published in accordance with the timeframes as set out in the Capacity Market Rules.

To help interpret the file name of the registers to ensure you’ve selected the correct register. Let’s, use T-4-2019(DY-2024)-31_07_2024 as an example. We’ve summarised this as follows:

• 2019 refers to the first Delivery Year for that auction (e.g. T-4 2014 Auction)
• DY-2024 is the current Delivery Year when we produce the report
• 31_07_2024 the last date in the filename is the date the file was generated

Do note, that the Delivery Year is always the current year, except where we show the first Delivery Year for Auctions, those Delivery Year starts in the future (e.g. T-4-2026(DY-2026)-31_07_2024).

Please also note that filtering by Company Name will display CMU rows, but not individual components. Metering Identifiers are associated with components, not CMUs, so you will not be able to view Metering Identifiers when filtering by Company Name.

For more information about the registers, please see G1 – Capacity Market Metering, G20 – Capacity Market Metering Statement and G25 – My EMRS User Guide.

The Mock System Stress Event Reporting is to address data quality issues to improve the overall settlement accuracy if a System Stress Event were to happen. This reporting replicates the calculations involved in a System Stress Event. It will help Capacity Providers understand their initial position had a Stress Event occurred and be informed of any issues identified against individual CMUs.

When is the next Mock System Stress Event Reporting scheduled for 2024/25 Delivery Year?

Date	Activity
13 November 2024	Issue Mock System Stress Event Reporting to Capacity Providers with no exceptions identified and with exceptions identified.
7 February 2025	Issue Mock System Stress Event Reporting to Capacity Providers with no exceptions identified and with exceptions identified.

What happens if you have any queries regarding the Mock System Stress Event Reporting received?

EMRS will be available to respond to any queries related to your Mock System Stress Event Reporting during the period 13 November – 6 December 2024 following the first reporting period, and 7 February – 28 February 2025 following the second reporting period. Please do contact our Service Desk and they’ll assign your query accordingly.

Where can I locate further information on this activity?

Further details about this reporting is available in the Latest Changes section and is directly accessible by the Latest Change – Mock System Stress Event Reporting webpage. This provides information to help support Capacity Providers in reviewing the Mock System Stress Event Reporting received.

Also, we thought it would be helpful to highlight these items:

• The format of the reporting is based on the Capacity Volume Register (CVR) and WP48 – Volume Reallocation ‘Appendix 1. Capacity Volume Register’ (p16) has the definitions of the column headers that are used.
• Frequently asked Questions on the Mock System Stress Event Reporting.
• Watch the Mock System Stress Event Webinar held on 4 July 2023 or you can view the slides that were presented.
• G18 – Capacity Market Stress Event Guide will help Capacity Providers the processes involved, their obligations, and penalties for failing to deliver in an actual System Stress Event.

The Capacity Volume Register (CVR) will be published from 24^th to 34^th Working Day inclusive after the end of the month in which a System Stress Event occurred.

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.

Please note:

• 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 WD33 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 34. This will include any trades received between 4pm and 5pm on Working Day 33. This will indicate everyone’s positions as at 5pm on Working Day 33, 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.