On 15 December 2021, LCCC issued a Stakeholder Bulletin to announce the following:
Quarterly Obligation Period 1 January 2022 to 31 March 2022
- Adjusted Interim Levy Rate (ILR) is £0.000/MWh
Quarterly Obligation Period 1 April 2022 to 30 June 2022
- Interim Levy Rate is £0.000/MWh
- Total Reserve Amount (TRA) is £233,290,074.31
Notices will be issued to Suppliers to confirm the above changes. The Key Payment Figures 2021/22 and Key Payment Figures 2022/23 reflect these changes and are located on the Settlement Data for Suppliers webpage.
Updates focused on the Quarterly Obligation Period 1 January 2022 to 31 March 2022 (Q1 2022)
LCCC have made the decision to reduce the Interim Levy Rate to £0.000/MWh. LCCC will be monitoring market prices closely during the quarter and will make appropriate decisions to ensure payments are covered via the Total Reserve Amount and the Interim Levy Rate. Further details are available in the LCCC Stakeholder Bulletin.
How does this affect my Interim Rate payments?
Invoices issued from 12 January 2022 will use the adjusted Interim Levy Rate £0.000/MWh for the Quarterly Obligation Period 1 January 2022 to 31 March 2022.
How does this affect my Credit Cover requirement?
From 1 January 2022, Suppliers will be required to maintain Credit Cover using the adjusted ILR of £0.000/MWh. Further information on the process on lodging or requesting excess Credit Cover is available in WP42 – Supplier CfD Credit Cover.
Updates focused on the Quarterly Obligation Period 1 April 2022 to 30 June 2022 (Q2 2022)
LCCC will be monitoring the market prices closely, and may be required to consider an adjustment of the Interim Levy Rate or Total Reserve Amount or both, either upwards or downwards, prior to the start of the Quarter Obligation Period. We will support LCCC in keeping Suppliers informed.
What are my requirements against Interim Rate payments and Credit Cover?
From 1 April 2022, Suppliers will be required to maintain Credit Cover using the adjusted ILR of £0.000/MWh. Further information on the process on lodging or requesting excess Credit Cover is available in WP42 – Supplier CfD Credit Cover.
Where can I locate information on how my Reserve Payment is calculated?
Your Reserve Payment Notice will be issued 12 January 2022. G3 – CfD Reserve Payment provides information on how the Reserve Payments are calculated.
EMRS Settlement Calendar will provide the dates for when invoices will be generated and when payments are due. Key Payment Figures will provide details of the ILR and the TRA for the Quarterly Obligation Periods. These are both available on the Settlement Data webpage on the EMRS website.
Who do I contact if I have a query?
|EMRS||Reserve Payment, Total Reserve Amount & Interim Levy Rate Notice, Quarterly Supplier Reconciliation Invoice, and Credit Cover||020 7380 4333||[email protected]|
|LCCC||Calculation of the Total Reserve Amount and Interim Levy Rate||020 7211 8881||[email protected]|
|LCCC||General queries about LCCC or the management of the CFD scheme||020 7211 8881||[email protected]|