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.
BSC Insight: What is driving the latest increases in Credit Assessment Price?23 September 2021
BSC Insight: What is Credit Cover and how does the Credit Assessment Price affect it?29 September 2021
BSC insight: Forward Market Prices drive six CAP value reviews this year28 May 2021
CAP increase consultation announced 17 May 202117 May 2021
CAP increase announced for 12 May 202121 April 2021
CAP increase consultation announced 04 May 20214 May 2021
CAP increase consultation announced 12 April 202112 April 2021
CAP increases to £64/MWh from 23 February 20211 February 2021
CAP increases to £62/MWh from 27 January 20216 January 2021
Credit Assessment Price (CAP) – price stays at £30/MWh3 June 2020
CAP decreases to £30/MWh from 16 April 202025 March 2020
CAP review consultation – decrease from £41/MWh to £36/MWh19 February 2020
Remote meetings due to COVID-19
We have decided that we will not be re-opening the Elexon office to external visitors, save in exceptional circumstances, until at least the beginning of 2021 and we will therefore continue to hold all meetings, committees and workgroups virtually. This was decided after viewing the feedback and results from an internal and external survey.
To recognise this prolonged change to our working arrangements, we have created a set of principles to be followed when holding online meetings. These principles will be highlighted at the beginning of each meeting to hopefully improve your virtual meeting experience.
Join the committee
We have a number of vacancies to participate in the TDC. If you are interested please complete the application form on our website, setting out your relevant experience/expertise for the Committee(s) you are interested in.
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 (March 2021)
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 here Guidance Note: CAP Review Document
The current value of the CAP can be found on the Credit web page.
Calculating the CAP value
Find out how the CAP is calculated and what impacts a review.
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.
CAP review meeting
The last meeting was held on 24 June 2019 where the Committee discussed a Review of the Credit Assessment Price. More on Credit Committee meeting 40.
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.