On 28 June 2021, LCCC issued a Stakeholder Bulletin to announce the following:
Quarterly Obligation Period 1 July 2021 to 30 September 2021
- Adjusted Interim Levy Rate is £6.373/MWh
- Adjusted the Total Reserve Amount £95,117,804.99
Quarterly Obligation Period 1 October 2021 to 31 December 2021
- Interim Levy Rate is £6.494/MWh
- Total Reserve Amount is £208,986,765.06
LCCC’s Forecasting Team is hosting a webinar at 10-11am on 23 July 2021. This will discuss the forecast for Quarterly Obligation Period 1 October 2021 to 31 December 2021. To register for the webinar please complete this registration link.
Updates focused on the Quarterly Obligation Period 1 July 2021 to 30 September 2021
How does this affect my Interim Rate payments and Reserve Payment requirements?
As the Quarterly Obligation Period 1 July 2021 to 30 September 2021 has not yet commenced. Suppliers will be notified of their adjusted proportion of the TRA and this will be invoiced via the Quarterly Reconciliation issued on 9 July 2021.
Reminder: Do you have sufficient Credit Cover lodge?
Please ensure you have sufficient Credit Cover lodged by 5pm on 30 June 2021.
Updates focused on the Quarterly Obligation Period 1 October 2021 to 31 December 2021
What are the key dates I need to be aware of?
The table below shows the key dates for the 1 October 2021 to 31 December 2021 Quarterly Obligation Period:
|9 July 2021||Suppliers Reserve Payment Notice issued|
|30 September 2021||Suppliers to ensure their Credit Cover lodged is sufficient for ILR of £6.494/MWh from 1 October 2021 to 31 December 2021|
|1 October 2021||ILR of £6.494/MWh applies from 1 October 2021|
|12 October 2021||Suppliers to be invoiced for the first Interim Rate payment based on £6.494/MWh|
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.
What are my requirements against Interim Rate payments and Credit Cover?
Suppliers must make Interim Rate payments and provide Credit Cover if they supply electricity within the Quarterly Obligation Period. Suppliers are required to maintain their Credit Cover requirement using the ILR applicable for the Quarterly Obligation Period. If Suppliers need to lodge additional Credit Cover or reduce Credit Cover the process is detailed in WP42 – Supplier CFD Credit Cover and G5 – Supplier CFD Credit Cover.
How is my Credit Cover requirement calculated?
The minimum Credit Cover requirement is a Supplier’s metered volumes for a 21 day reference period multiplied by the Interim Levy Rate. G5 – Supplier CfD Credit Cover provides information on how to calculate your Credit Cover, the daily Credit Cover report and what happens if a Supplier doesn’t lodge sufficient Credit Cover.
What is the process for lodging Credit Cover?
WP42 – Supplier CfD Credit Cover provides details on the process for lodging Credit Cover including the Letter of Credit templates (p21-25) and the approved bank account details for cash Credit Cover (p6).
In order for Credit Cover to be considered;
- Cash amount must have been received in the relevant bank account;
- Valid Letter of Credit received electronically; and
- Received by 5pm on 30 September 2021
Where can I locate information on how my Reserve Payment is calculated?
G3 – CfD Reserve Payment provides information on how the Reserve Payments are calculated.
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]|