Consultations for all Process, Operational and Credit areas

This page gives details of a consultation on revising the Credit Assessment Price (CAP) to £420/MWh from 12 October 2022 and to £465/MWh from 19 October. This two-day consultation will close at 17:00 on 27 September 2022.

This page gives details of a consultation on revising the Credit Assessment Price (CAP) to £350/MWh from 7 October 2022. This two-day consultation will close at 17:00 on 22 September 2022.

We are seeking your views on the annual Market Index Definition Statement (MIDS) review. If you represent BSC Parties or any other party in connection with the MIDS please respond to this online consultation.

This page gives details of a consultation on revising the Credit Assessment Price (CAP) to £515/MWh from 21 September 2022. This two-day consultation will close at 17:00 on 6 September 2022.

This consultation seeks views on the draft reference Network Mapping Statement (NMS) for use in the allocation of Transmission Loss Factors (TLFs) for BSC Year 2023-2024.

This page gives details of a consultation on revising the Credit Assessment Price (CAP) to £565/MWh from 15 September 2022. This two-day consultation will close at 17:00 on 31 August 2022.

Outcome

The Credit Committee has decided to withdraw the previously notified CAP of £475/MWh that was due for implementation from 16 September. This decision follows on from recent decreases in the forward market prices and means that the current CAP of £415/MWh will remain valid on and beyond 16 September until the next scheduled CAP replaces it.

• Elexon Circular EL03664 – first outcome where the Credit Committee did not go ahead with the consulted CAP but set a £475/MWh CAP
• Elexon Circular EL03676 – second outcome withdrawing of the £475/MWh CAP

This page gives details of a consultation on revising the Credit Assessment Price (CAP) to £435/MWh from 7 September 2022. This two-day consultation will close at 17:00 on 22 August 2022.

Outcome

The Credit Committee has decided to withdraw the notified 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.

• Elexon Circular EL03667

On 7 September, the CAP value will increase to £510/MWh. As a result, Parties may notice a change in their Credit Cover Percentage and should review the amount of Credit Cover lodged.

A Consultation paper on the value of the CAP was issued on 18 August as part of the alternative CAP review process. BSC Parties were invited to indicate whether they agreed with the proposal to increase the value of the CAP to £435/MWh effective from 7 September.

• Elexon Circular EL03654

This page gives details of a consultation on revising the Credit Assessment Price (CAP) to £395/MWh from 31 August 2022. This two-day consultation will close at 10:00 on 16 August 2022.

Outcome

On Wednesday 31 August, the CAP value will increase to £415/MWh. As a result, Parties may notice a change in their Credit Cover Percentage and should review the amount of Credit Cover lodged.

• Elexon Circular EL03650

This page gives details of a consultation on revising the Credit Assessment Price (CAP) to £330/MWh from 17 August 2022. This two-day consultation will close at 17:00 on 2 August 2022.

Outcome

On Wednesday 17 August 2022, the CAP value will increase to £330/MWh. As a result, Parties may notice a change in their Credit Cover Percentage and should review the amount of Credit Cover lodged.

• Elexon Circular EL03644

This page gives details of a consultation on revising the Credit Assessment Price (CAP) to £300/MWh from 9 August 2022. This two-day consultation will close at 17:00 on 25 July 2022.

Outcome

On Tuesday 9 August 2022, the CAP value will increase to £300/MWh. As a result, Parties may notice a change in their Credit Cover Percentage and should review the amount of Credit Cover lodged.

• Elexon Circular EL03635

This page gives details of a consultation on revising the Credit Assessment Price (CAP) to £270/MWh from 26 July 2022. This two-day consultation will close at 17:00 on 8 July 2022.

Outcome

On Tuesday 26 July 2022, the CAP value will increase to £270/MWh. As a result, Parties may notice a change in their Credit Cover Percentage and should review the amount of Credit Cover lodged.

• Elexon Circular EL03626

This page gives details of a consultation on revising the Credit Assessment Price (CAP) to £215/MWh from 8 July 2022. This two-day consultation will close at 17:00 on 23 June 2022.

Outcome

On Friday 8 July 2022, the CAP value will increase to £215/MWh. As a result, Parties may notice a change in their Credit Cover Percentage and should review the amount of Credit Cover lodged.

• Elexon Circular EL03615

This page gives details of a consultation on revising the Credit Assessment Price (CAP) to £190/MWh from 1 June 2022. This two-day consultation will close at 17:00 on 17 May 2022.

Outcome

The Credit Committee held a meeting today, 30 May 2022, and decided to postpone the implementation date of the last notified CAP of £190/MWh. It was due to go live on 1 June 2022 but this has now been postponed to 1 July 2022.

• Elexon Circular EL035897

Previous decision

On Wednesday 1 June 2022, the CAP value will increase to £190/MWh from the current CAP of £177/MWh. As a result, Parties may notice a change in their Credit Cover Percentage and should review the amount of Credit Cover lodged.

• Elexon Circular EL03586

This page gives details of a consultation on decreasing the Credit Assessment Price (CAP) to £177/MWh from the current CAP value of £215/MWh. This two-day consultation will close at 17:00 on 28 April 2022.

Outcome

On Tuesday 17 May 2022, the CAP value will decrease to £177/MWh from the current CAP of £215/MWh. As a result, Parties may notice a change in their Credit Cover Percentage and should review the amount of Credit Cover lodged.

• Elexon Circular EL03573

ELEXON has received a new GSP registration application from the National Electricity Transmission System Operator (NETSO) relating to two new circuits at Axminster. BSC Parties are invited to respond to this consultation using the proforma available.

This page gives details of a consultation on revising the Credit Assessment Price (CAP) to £235/MWh. This two-day consultation will close at 17:00 on 31 March 2022. Please note the previously notified CAP value of £250/MWh is confirmed to go live on 1 April 2022. The last notified CAP value is £215 which is due to go live on 8 April provided it is not withdrawn by the Credit Committee before implementation.

Outcome

The Credit Committee has decided to withdraw the last notified CAP of £235/MWh before implementation on 21 April 2022. This means the current CAP value of £215/MWh remains valid until the Credit Committee sets the next CAP value and its implementation date.

The Credit Committee has been monitoring the market very closely and has decided that the CAP value of £235/MWh would no longer be reflective of market data for implementation from 21 April.

• Elexon Circular EL03562
• Elexon Circular EL03566

This page gives details of a consultation on decreasing the Credit Assessment Price (CAP) to £215/MWh. This two-day consultation will close at 17:00 on 24 March 2022.

Please note the last notified CAP value of £250/MWh will still go ahead on 1 April 2022.

Outcome

On Friday 8 April 2022, the CAP value will decrease to £215/MWh. As a result, Parties may notice a change in their Credit Cover Percentage and should review the amount of Credit Cover lodged.

• Circular EL03554

We are seeking views on two new Grid Supply Point (GSP) registration applications from the National Electricity Transmission System Operator (NETSO).

This page gives details of a consultation on increasing the Credit Assessment Price (CAP) to £231/MWh. This two-day consultation will close at 17.00 on 2 March 2022.

Outcome

Following a consultation on the value of the CAP which we issued on 28 February, the Credit Committee has decided that the consulted on CAP value of £231/MWh (for implementation on 17 March 2022) is no longer reflective of market data.

Based on the latest market data available, the Credit Committee has set a new CAP of £330/MWh to be implemented on 17 March.

• Elexon Circular EL03542

This page gives details of a consultation on decreasing the Credit Assessment Price (CAP) to £175/MWh. This two-day consultation will close at 17.00 on 21 February 2022.

Please note the last notified CAP value of £190/MWh will still go live on 22 February.

Outcome

The Credit Assessment Price (CAP) will stay at £190/MWh

The Credit Committee has decided that the consulted on CAP value of £175/MWh would no longer be reflective of market data for implementation in March. Therefore it will not be implemented unless forward market prices revert to their former downward trends very soon which will be observed very closely over the coming days until the next Credit Committee meeting.

• Circular EL03533

This page gives details of a consultation on decreasing the Credit Assessment Price (CAP) to £190/MWh. This two-day consultation will close at 17.00 on 7 February 2022. Please note the last notified CAP value of £245/MWh will still go live on 8 February.

Outcome

No consultation responses were received. As a result the CAP value will decrease from £245/MWh to £190/MWh, effective from Tuesday 22 February 2022.

• Circular EL03521

This page gives details of a consultation on decreasing the Credit Assessment Price (CAP) to £245/MWh. This two-day consultation will close at 17.00 on 24 January 2022. Please note the last notified CAP value of £340/MWh will not go live on 25 January following a Credit Committee decision on 20 January 2022 to retain the current CAP of £305/MWh.

Outcome

The consultation closed on Monday 24 January 2021 and it received no responses. As a result the CAP will decrease to £245/MWh from its current value of £305/MWh on Tuesday 8 February 2022.

• Elexon Circular EL03517

This page gives details of a consultation on increasing the Credit Assessment Price (CAP) to £340/MWh. This two-day consultation will close at 17.00 on 7 January 2022. Please note the last notified CAP value of £380/MWh will not go live on 7 January following a Credit Committee decision on 5 January 2022 to retain the current CAP of £305/MWh.

Update (20 Jan 2022)

The Credit Committee has been monitoring market data and held a meeting on 20 January 2022 to decide if the last notified CAP value of £340/MWh was still reflective of the recent market data and/or to propose a new CAP value for consultation.

The Credit Committee decided to cancel the last notified CAP value of £340/MWh, which was due to go live on 25 January 2022.

They also proposed a new CAP value of £245/MWh, which will go live on 8 February 2022. The next scheduled Credit Committee meeting is on 27 January where a new CAP could potentially be proposed. Therefore, the minimum duration of the new proposed CAP (£245/MWh) will be between 8 February 2022 and 15 February 2022.

We have provided more information on the rationale for this proposed CAP on the consultation webpage. Parties are invited to respond by 17:00 on Monday 24 January 2022.

• Consultation on CAP decrease to £245/MWh from 8 February 2022
• Elexon Circular EL03514

Outcome (10 Jan 2022)

On Tuesday 25 January 2022, the CAP value will increase to £340/MWh from current value of £305/MWh. As a result, Parties may notice a change in their Credit Cover Percentage and should review the amount of Credit Cover lodged.

• Circular EL03506

This page gives details of a consultation on increasing the Credit Assessment Price (CAP) to £380/MWh from the last notified value of £305/MWh. This two-day consultation will close at 17.00 on 20 December.

Update impacting this decision

(Published: 5 January 2022)

Please note the last notified CAP value of £380/MWh will not go live on 7 January following a Credit Committee decision on 5 January 2022 to retain the current CAP of £305/MWh.

• Maintaining Credit Cover news

There is now a consultation (dated 5 January 2022) on increasing the Credit Assessment Price (CAP) to £340/MWh.

• Consultation on Credit Assessment Price increase to £340/MWh from 25 January 2022

Outcome

On Friday 7 January 2022, the CAP value will increase to £380/MWh. As a result, Parties may notice a change in their Credit Cover Percentage and should review the amount of Credit Cover lodged.

In accordance with the alternative CAP Review Process the implementation period for a new CAP has been shortened to 10 working days and the CAP will be reviewed by the Credit Committee every two weeks. The next Credit Committee meeting to determine the CAP will be on 29 December 2021.

This page gives details of a consultation on increasing the Credit Assessment Price (CAP) to £305/MWh from the last notified value of £230/MWh. This two-day consultation closed at 17.00 on 2 December.

Outcome

The CAP value will increase to £305/MWh on Friday 17 December 2021. As a result, Parties may notice a change in their Credit Cover Percentage and should review the amount of Credit Cover lodged.

Three consultation responses disagreed with the proposed value. The Credit Committee considered the consultation responses without holding a Credit Committee meeting, so as not to hold up the implementation of the increased CAP value. These responses will also be considered in more detail at the next Credit Committee meeting, which will be in the week beginning 13 December 2021.

We are consulting on a decrease of the CAP to £230/MWh from the last notified value of £240/MWh. This is a two day consultation, and will close at 17:00 on 18 November 2021.

Outcome

The consultation closed on Thursday 18 November 2021 and two responses disagreed with the proposed value.

The Credit Committee considered the consultation responses without holding a Credit Committee meeting, so as not to hold up the implementation of the reduced CAP value. These responses will be considered in more detail at the next Credit Committee meeting, which will be in the week beginning 29 November 2021.

• Circular EL03457

We are consulting on a decrease of the CAP to £240/MWh from the last notified value of £259/MWh. A change to CAP can impact the amount of Credit Cover required by a BSC Party.

This consultation seeks views on including an alternative review process in the Credit Assessment Price (CAP) Review Guidance Document in light of volatile electricity market prices.

We are consulting on an increase of the CAP to £259/MWh from the last notified value of £184/MWh. A change to CAP can impact the amount of Credit Cover required by a BSC Party.

We are consulting on an increase of the CAP to £184/MWh from the last notified value of £137/MWh.

We are seeking your views on the annual Market Index Definition Statement (MIDS) review. If you represent BSC Parties or any other party in connection with the MIDS please respond to this online consultation.

We are consulting on an increase of the CAP to £137/MWh from the last notified value of £113/MWh. 

This consultation details the proposed methodology for setting Load Periods and Sample Settlement Periods used in the derivation of Zonal Transmission Loss Factors (TLFs), as required by the Balancing and Settlement Code (BSC).

We have issued a consultation paper on the value of the Credit Assessment Price (CAP). We are consulting on an increase of the CAP to £113/MWh from the current value of £96/MWh. 

This consultation has now closed. See the outcome of the consultation.