Credit Assessment Price (CAP) consultation: 10 August

We are consulting on an increase of the CAP to £46/MWh from the current CAP value of £36/MWh. A change to CAP can impact the amount of Credit Cover required by a Trading Party.

Summary

The Credit Assessment Price (CAP) is used in the Energy Indebtedness calculations to convert Credit Cover into an energy value. We are consulting on an increase of the CAP to £46/MWh from the current CAP value of £36/MWh. A change to CAP can impact the amount of Credit Cover required by a Trading Party.

If all respondents and Credit Committee members are in agreement, the proposed value will be implemented on Thursday 10 September 2020 and the trigger level will increase to +/- £5/MWh.

If at least one respondent or Credit Committee member requests it or disagrees with the proposed value, Elexon will arrange a Credit Committee meeting. The Credit Committee will determine if a change needs to be made to the value of the CAP, the trigger level and when any new value should be implemented.

Outcome

No responses were in disagreement with the new suggested CAP value. 

On Thursday 10 September 2020, the CAP value will increase £46/MWh. As a result, Parties may notice a change in their Credit Cover Percentage, and should review the amount of Credit Cover lodged.

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