The Credit Committee (CC) is one of six committees established to support the BSC Panel in fulfilling its various duties. It is responsible for all matters under the Balancing and Settlement Code (BSC) that relate to the Credit Assessment Price (CAP).
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Consultation: decreasing CAP to £110 from 11 May 202320 April 2023
Consultation: decreasing CAP to £125 from 14 April 202324 March 2023
Consultation: decreasing the CAP to £140/MWh from 22 March 20233 March 2023
Consultation: decreasing the CAP to £155/MWh from 1 March 202310 February 2023
Are you interested in becoming a member of the Credit Committee?23 January 2023
BSC Insight: What is Credit Cover and how does the Credit Assessment Price affect it?29 September 2021
Join the committee
The Credit Committee is looking for new members. The committee currently meets every two weeks to review (and if necessary) propose a new CAP.
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
Read the Terms of Reference for more information about how the committee operates.
Attend a meeting
Our meetings are held both virtually and in-person. If you would like to join a meeting, please email [email protected]. 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 chairperson.
We have created a set of principles for online meetings to enhance the experience. These will be highlighted at the beginning of each meeting.
Alternative CAP review process
The Credit Committee introduced an alternative review process in October 2021 to be used temporarily in volatile market conditions. The intention of the new process will be to give more flexibility to the Credit Committee to set a CAP faster, and based on a wider range of data sources.
Credit Assessment Price
The 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.
The current and historical values of the CAP can be found on the Elexon Portal.
- CAP values (Elexon Portal) – login may be required.
Calculating the CAP value
Find out how the CAP is calculated and what impacts a review.
Quarterly reports archive
The Committee published Quarterly Reports between 2008 and 2015 which are available on request from the Credit Committee.