Withdrawing the CAP of £510/MWh resulting in CAP staying at £415/MWh
The Credit Committee has decided to withdraw the notified Credit Assessment Price (CAP) of £510/MWh before implementation on 7 September 2022. This means the current CAP value of £415/MWh remains valid at least until it is replaced by the next scheduled CAP of £475/MWh on 16 September.
The Credit Committee has been monitoring the market very closely. Although market volatility has made it very difficult to see a clear view of the market direction.
Based on the latest available data the Credit Committee members have agreed that the CAP of £510/MWh would no longer be reflective of market data for implementation from 7 September.
Therefore it will not be implemented meaning the current CAP of £415/MWh valid at least until it is replaced by the next scheduled CAP of £475/MWh on 16 September.