The Credit Committee (CC) is responsible for all matters under the Balancing and Settlement Code (BSC) that relate to the Credit Assessment Price (CAP).
Credit Committee Meetings are open to any BSC Party and the business discussed is non-confidential. Attendees can observe the proceedings but cannot speak unless invited by the chairman.
The last meeting was held on 5 September 2017 where the Committee discussed a Review of the Credit Assessment Price.
The BSC Panel has established six Panel Committees to support it in fulfilling its various duties. Membership of the committees and groups is drawn from the industry.
The powers, functions and responsibilities of the Credit Committee include the following:
- Setting, reviewing and amending the trigger level value used to determine when a review of the CAP will be held
- Considering the CAP value proposed by ELEXON
- Deciding whether or not to propose new CAP values which are subject to consultation with the Trading Parties
- Arranging for ELEXON to consult with Trading Parties in relation to any proposed new CAP values
- Setting any new CAP value
- Examining the suitability of the CAP Review process
- Keeping under review the suitability and availability of the forward price data
- Section M 1.4 of the BSC defines the role of the Credit Committee
- Formal terms of reference for the Credit Committee (January 2012)
Credit Assessment Price
Credit Assessment Price (CAP) is a parameter set by the Credit Committee, and is compared against current wholesale prices to ensure it reflects the current market value of electricity.
Details of the CAP review process can be found in the Guidance Note: CAP Review Document
The current value of the CAP can be found on the Credit web page.
Previous values of the CAP
These are published on the ELEXON Portal.
An ELEXON Portal user account is required to see certain data on the Portal.
Credit Committee Quarterly Reports
The Committee no longer publishes the Quarterly Reports, which were published between 2008 and 2015.
The reports have been removed from the website but are available on request from the Credit Committee.