Glossary

CAP increases to £62/MWh from 27 January 2021

The CAP will increase to £62/MWh – not the proposed £60/MWh – on Wednesday 27 January 2021.

Decision on a new CAP

This decision was made to increase the CAP at a Credit Committee meeting on Wednesday 6 January 2021. The Committee considered the latest February, March and April 2021 forward prices and the factors leading to their increase since the consultation paper was issued.

A Credit Committee meeting was held as all consultation responses and Credit Committee members were not in agreement with the proposed value. Therefore, in accordance with the CAP Review Guidance, a meeting was arranged.

Initial consultation 

A consultation paper on the value of CAP was issued on Monday 21 December 2020 following a breach of the CAP trigger level. BSC Parties were invited to indicate whether they agreed with the proposal to increase the value of CAP to £60/MWh, from its current approved level of £56/MWh.

Change in Credit Cover Percentage

Parties may notice a change in their Credit Cover Percentage as a result of the new CAP, and should review the amount of Credit Cover lodged.

Previous CAP consultations

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