EMRS, on behalf of the Low Carbon Contracts Company (LCCC) and Electricity Settlements Company (ESC), confirms for the Financial Year 2023/24 (1 April 2023 to 31 March 2024):
A repayment of excess CfD Operational Costs will be paid to Suppliers based on the Total Repayment of Excess Operational Costs: £8,171,983.90. On 19 September 2024, only Suppliers who made Operational Costs Payments during the Financial Year 2023/24 received a credit note for the repayment of excess CfD Operational Costs refund with a payment date of 26 September 2024.
A CM Settlement Costs Levy refund will be paid to Suppliers based on the Total Settlement Costs Levy refund: £6,020,057.46. On 19 September 2024, only Suppliers who made Settlement Costs Levy Payments during the Financial Year 2023/24 will receive a credit note for the CM Settlement Costs Levy refund with a payment date of 26 September 2024.
These amounts are confirmed in the Key Figures for Payment 2024/25.
Will I receive backing data to support the credit notes received?
There will be no associated backing data for the repayment of the excess CfD Operational Costs. There will be associated backing data available for the CM Settlement Costs Levy refund.
How is my share calculated?
A repayment of excess CfD Operational Costs to Suppliers is calculated based on their overall market share over the Financial Year. This is in accordance with the Contracts for Difference (Electricity Supplier Obligations) Regulations 2014, (as amended), Part 3, Chapter 8, Regulation 24(3).
A CM Settlement Costs Levy refund to Suppliers is calculated using a payment share based on the amount of Settlement Costs Levy Payments paid in the Financial Year. This is in accordance with the Electricity Capacity (Supplier Payment etc.) Regulations 2014, (as amended) Part 3, Regulation 10(3) (a).
More information
The LCCC & ESC Annual Report and Accounts 2023/24 were published on the 26 August 2024 on the LCCC website, access the full reports here:
- Low Carbon Contracts Company (LCCC) Annual Report 2023/24
- Electricity Settlements Company (ESC) Annual Report 2023/24
If you have any queries please do reach out via [email protected].