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The Credit Assessment Price (CAP) is a parameter (defined in BSC Section M1.4(223Kb) ) set by the BSC Panel and subject to periodic review. The CAP is a notional value of 1 MWh of energy that is used in determining a Party’s Energy Indebtedness and amount of Energy Credit Cover and hence adequacy of Credit Cover.
The Credit Committee is responsible for all matters under the BSC that relate to the CAP.
A trigger level system is used to determine when reviews of CAP shall be held. For more information on this process please see the CAP Review Guidance Document(112Kb) .
Credit Assessment Load Factors (CALF) values are published in accordance with the CALF Guidance(735Kb) document as described in the Balancing and Settlement Code (BSC) BSC Section M 1.5.3(223Kb) .
Credit Assessment Load Factors are central to the determination of Trading Party’s Energy Indebtedness and are calculated on a seasonal basis. The seasonal CALF values are published at the beginning of the preceding BSC Season. The values are available in Excel and PDF format from the table below:
Where necessary, the Lead Party of a BM Unit may request a re-determination of the CALF value(s) assigned to it’s BM Unit(s) within a period of two months following the determination by BSCCo of a CALF value or revised CALF value. Further information is provided in Appendix 5 of the CALF Guidance document.
Parties may also request a re-determination of a CALF value following an update to the CALF Guidance document used to determine the values.
The CALF Appeals are presented to the Imbalance and Settlement Group (ISG) as a confidential decision paper.
A Party may also request a Holiday-Ratio which is applied to the CALF values during Annual Holiday Periods (Easter and Christmas/New Year). Further information is provided in Section 6 of the CALF Guidance document. Holiday CALF values should be requested in advance of the season in which the period falls.
