Credit Assessment Price Consultation 08 May 2018

Summary

A trigger event has occurred, meaning that the absolute difference between the CAP and the reference price is greater than the upper trigger level of £6/MWh. As a result, a consultation on a new CAP value has commenced. You are invited to respond to this consultation using the consultation proforma.

The consultation period will end on Tuesday 15 May 2018 at 17:00. Please return responses to Credit.committee@elexon.co.uk.

Following the end of the consultation period, if required, the Credit Committee will try to meet on the week commencing 14 May 2018 to consider the responses, and decide whether to change the current CAP value and the trigger level.

Any change will be notified to all BSC Parties, and the new value will come into effect at least 15 Working Days later. If a Credit Committee meeting is not required at the end of the consultation period, the new CAP value of £53/MWh will be implemented on Thursday 7 June 2018.

Outcome 

The consultation closed on Tuesday 15 May 2018. All responses were in agreement with the proposed value and therefore, in accordance with the CAP Review Guidance, a Credit Committee meeting will not be held. 

On Thursday 7 June 2018, the CAP value will increase from £47/MWh to £53/MWh. As a result, Parties may notice a change in their Credit Cover Percentage, and should review the amount of Credit Cover lodged.

The CAP review trigger level value will remain at its current value of +/- £6/MWh.

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