Glossary

CAP increases to £64/MWh from 23 February 2021

The Credit Assessment Price (CAP) will increase to £64/MWh, effective from Tuesday 23 February 2021. 

The CAP only recently increased to £62/MWh on Wednesday 27 January 2021, but this will increase again at the end of February. 

Decision on a new CAP

The decision was made to increase the CAP at a Credit Committee meeting on Monday 1 February 2021. The Committee considered the latest March and April 2021 forward and cash-out prices and the factors leading to their trend 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.

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.

Initial consultation

A consultation paper on the value of CAP was issued on Monday 18 January 2021 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 £64/MWh, from its last notified level of £62/MWh.

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