Glossary

Credit Cover explained: News

View Consultation: decreasing CAP to £72 from 7 August 2024

Consultation: decreasing CAP to £72 from 7 August 2024

This page gives details of a consultation on decreasing the Credit Assessment Price (CAP) to £72 from 7 August 2024. This two-day consultation will close at 17:00 on 23 July 2024.

View Consultation: increasing CAP to £78 from 18 June 2024

Consultation: increasing CAP to £78 from 18 June 2024

This page gives details of a consultation on increasing the Credit Assessment Price (CAP) to £78 from 18 June 2024. This two-day consultation will close at 17:00 on 31 May 2024.

View Consultation: increasing CAP to £70 from 31 May 2024

Consultation: increasing CAP to £70 from 31 May 2024

This page gives details of a consultation on increasing the Credit Assessment Price (CAP) to £70 from 31 May 2024. This two-day consultation will close at 17:00 on 15 May 2024.

View Enhancing our customer enquiry processes using Elexon Support

Enhancing our customer enquiry processes using Elexon Support

In our recent customer feedback survey, a number of customers expressed the need for a more efficient and streamlined process to submit and track enquiries and concerns related to the BSC and its services.

We’ve taken this feedback on board and have been working on an enquiry management tool called Elexon Support. Elexon Support will provide you with a centralised platform to easily manage your interactions with us.

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View Consultation: decreasing CAP to £100 from 4 January 2024

Consultation: decreasing CAP to £100 from 4 January 2024

This page gives details of a consultation on decreasing the Credit Assessment Price (CAP) to £100 from 4 January 2024. This two-day consultation will close at 17:00 on 15 December 2023.

View Consultation: increasing CAP to £120 from 21 November 2023

Consultation: increasing CAP to £120 from 21 November 2023

This page gives details of a consultation on increasing the Credit Assessment Price (CAP) to £120 from 21 November 2023. This two-day consultation will close at 17:00 on 6 November 2023.

View Consultation: increasing CAP to £130 from 3 November 2023

Consultation: increasing CAP to £130 from 3 November 2023

This page gives details of a consultation on increasing the Credit Assessment Price (CAP) to £130 from 3 November 2023. This two-day consultation will close at 17:00 on 19 October 2023.

View Consultation: increasing CAP to £95 from 5 September 2023

Consultation: increasing CAP to £95 from 5 September 2023

This page gives details of a consultation on increasing the Credit Assessment Price (CAP) to £95 from 5 September 2023. This two-day consultation closed at 17:00 on 18 August 2023.

View Consultation: decreasing CAP to £90 from 2 August 2023

Consultation: decreasing CAP to £90 from 2 August 2023

This page gives details of a consultation on decreasing the Credit Assessment Price (CAP) to £90 from 2 August 2023. This two-day consultation will close at 17:00 on 18 July 2023.

View Consultation: increasing CAP to £100 from 5 July 2023

Consultation: increasing CAP to £100 from 5 July 2023

This page gives details of a consultation on increasing the Credit Assessment Price (CAP) to £100 from 5 July 2023. This two-day consultation will close at 17:00 on 20 June 2023.

View Consultation: decreasing CAP to £90 from 13 June 2023

Consultation: decreasing CAP to £90 from 13 June 2023

This page gives details of a consultation on decreasing the Credit Assessment Price (CAP) to £90 from 13 June 2023. This two-day consultation will close at 17:00 on 25 May 2023.

View Consultation: decreasing CAP to £125 from 14 April 2023

Consultation: decreasing CAP to £125 from 14 April 2023

This page gives details of a consultation on decreasing the Credit Assessment Price (CAP) to £125 from 14 April 2023. This two-day consultation will close at 17:00 on 28 March 2023.

View Consultation: decreasing the CAP to £140/MWh from 22 March 2023

Consultation: decreasing the CAP to £140/MWh from 22 March 2023

This page gives details of a consultation on decreasing the Credit Assessment Price (CAP) to £140/MWh from 22 March 2023. This two-day consultation will close at 17:00 on 7 March 2023.

View Consultation: decreasing the CAP to £155/MWh from 1 March 2023

Consultation: decreasing the CAP to £155/MWh from 1 March 2023

This page gives details of a consultation on decreasing the Credit Assessment Price (CAP) to £155/MWh from 1 March 2023. This two-day consultation will close at 17:00 on 14 February 2023.

View Give your feedback on BSC Credit Cover Arrangements

Give your feedback on BSC Credit Cover Arrangements

Ahead of the first meeting of BSC Issue 106 ‘Review of BSC Credit Cover Arrangements’, we are seeking feedback from stakeholders via a short (5-10 min) survey. Survey responses will be used to inform the meeting materials and focus areas for the first meeting, and must be submitted by 17:00 on Wednesday 15 February.

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View Consultation: decreasing CAP to £170 from 3 February 2023

Consultation: decreasing CAP to £170 from 3 February 2023

This page gives details of a consultation on decreasing the Credit Assessment Price (CAP) to £170/MWh from 3 February 2023. This two-day consultation will close at 17:00 on 19 January 2023.

Earlier this month, the Credit Committee notified a Credit Assessment Price (CAP) decrease to £220/MWh from 20 January 2023. A further decrease in forward market prices has prompted the Credit Committee to propose a £170/MWh CAP value effective from 3 February 2023 for consultation.

View Consultation: decreasing CAP to £250 from 20 January 2023

Consultation: decreasing CAP to £250 from 20 January 2023

This page gives details of a consultation on decreasing the Credit Assessment Price (CAP) to £250/MWh from 20 January 2023. This two-day consultation will close at 17:00 on 5 January 2023.

View Consultation: revising CAP to £400 from 5 January 2023

Consultation: revising CAP to £400 from 5 January 2023

This page gives details of a consultation on revising the Credit Assessment Price (CAP) to £400/MWh from 5 January 2023. This two-day consultation will close at 17:00 on 16 December 2022.

Earlier this month, the Credit Committee confirmed a Credit Assessment Price (CAP) increase to £450/MWh from 21 December 2022. However, a decrease in forward prices since this was notified has resulted in an additional CAP value of £400/MWh effective from 5 January 2023 to be proposed by the Credit Committee for consultation. This gives the Credit Committee the optionality to change the CAP, or the option to withdraw any notified CAP(s) when further data is available closer to the implementation date.

View Consultation: increasing CAP to £490 from 21 December 2022

Consultation: increasing CAP to £490 from 21 December 2022

This page gives details of a consultation on increasing the Credit Assessment Price (CAP) to £490/MWh from 21 December. This two-day consultation will close at 10:00 on 7 December 2022.

Last month, the Credit Committee confirmed a Credit Assessment Price (CAP) increase to £350/MWh from 14 December 2022. However, significant increases in forward prices since this was notified has resulted in an additional higher CAP value of £490/MWh effective from 21 December 2022 to be proposed by the Credit Committee for consultation. This gives the Credit Committee the optionality to increase the CAP if System Prices significantly increases, or the option to withdraw when further data is available closer to the implementation date.

View Consultation: increasing CAP to £300/MWh from 30 November 2022

Consultation: increasing CAP to £300/MWh from 30 November 2022

This page gives details of a consultation on increasing the Credit Assessment Price (CAP) to £300/MWh from 30 November. This two-day consultation will close at 10:00 on 16 November 2022.

Last month, the Credit Committee confirmed a Credit Assessment Price (CAP) at £250/MWh from 8 November 2022. However, following prices in December remaining higher, a CAP value of £300/MWh effective from 30 November 2022 has been proposed by the Credit Committee for consultation. This gives the Credit Committee the optionality to increase the CAP were December prices to remain higher, or the option to withdraw it if prices remain steady, or decrease, when further data is available closer to December delivery.

View Consultation on Credit Assessment Price increase to £525/MWh from 1 November 2022

Consultation on Credit Assessment Price increase to £525/MWh from 1 November 2022

This page gives details of a consultation on revising the Credit Assessment Price (CAP) to £525/MWh from 1 November. This two-day consultation will close at 17:00 on 17 October 2022.

View Changes to Settlement Calendars due to additional Bank Holiday on 19 Sept 2022

Changes to Settlement Calendars due to additional Bank Holiday on 19 Sept 2022

Due to the announcement of an additional Bank Holiday on 19 September 2022 for the Queen’s funeral, Elexon are currently working through re-aligning all impacted Settlement Calendars.

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View Withdrawing the CAP of £510/MWh resulting in CAP staying at £415/MWh

Withdrawing the CAP of £510/MWh resulting in CAP staying at £415/MWh

The Credit Committee has decided to withdraw the notified Credit Assessment Price (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.

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View Consultation on CAP change to £515/MWh from 21 September 2022

Consultation on CAP change to £515/MWh from 21 September 2022

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.

View Consultation: CAP increase to £565/MWh from 15 September 2022

Consultation: CAP increase to £565/MWh from 15 September 2022

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

View Consultation: Credit Assessment Price increase to £435/MWh from 7 September 2022

Consultation: Credit Assessment Price increase to £435/MWh from 7 September 2022

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

View Consultation on CAP increase to £395/MWh from 31 August 2022

Consultation on CAP increase to £395/MWh from 31 August 2022

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

View Consultation on CAP increase to £390/MWh from 24 August 2022

Consultation on CAP increase to £390/MWh from 24 August 2022

This page gives details of a consultation on revising the Credit Assessment Price (CAP) to £390/MWh from 24 August 2022. This two-day consultation will close at 17:00 on 9 August 2022.


Outcome

On Wednesday 24 August 2022, the CAP value will increase to £390/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 EL03648

View Consultation: Credit Assessment Price increase to £300/MWh from 9 August 2022

Consultation: Credit Assessment Price increase to £300/MWh from 9 August 2022

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

View Consultation: Credit Assessment Price increase to £270/MWh from 26 July 2022

Consultation: Credit Assessment Price increase to £270/MWh from 26 July 2022

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

View Consultation: Credit Assessment Price increase to £215/MWh from 8 July 2022

Consultation: Credit Assessment Price increase to £215/MWh from 8 July 2022

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

View Consultation: Credit Assessment Price change to £190/MWh from 1 June 2022

Consultation: Credit Assessment Price change to £190/MWh from 1 June 2022

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

View Consultation: Credit Assessment Price decrease to £177/MWh from 17 May 2022

Consultation: Credit Assessment Price decrease to £177/MWh from 17 May 2022

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

View Consultation on CAP change to £235/MWh from 20 April 2022

Consultation on CAP change to £235/MWh from 20 April 2022

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

View Consultation on CAP decrease to £215/MWh from 8 April 2022

Consultation on CAP decrease to £215/MWh from 8 April 2022

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

View Consultation on CAP increase to £231/MWh from 17 March 2022

Consultation on CAP increase to £231/MWh from 17 March 2022

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

View Consultation on CAP decrease to £175/MWh from 8 March 2022

Consultation on CAP decrease to £175/MWh from 8 March 2022

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

View Consultation on CAP decrease to £190/MWh from 22 February 2022

Consultation on CAP decrease to £190/MWh from 22 February 2022

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

View Consultation on CAP decrease to £245/MWh from 8 February 2022

Consultation on CAP decrease to £245/MWh from 8 February 2022

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

View Consultation on CAP increase to £340/MWh from 25 January 2022

Consultation on CAP increase to £340/MWh from 25 January 2022

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

View Credit Assessment Price to remain at £380/MWh – update published 5 Jan 2022

Credit Assessment Price to remain at £380/MWh – update published 5 Jan 2022

The Credit Committee met on 29 December 2021 to review the Credit Assessment Price (CAP) due to be implemented on 18 January 2022. The Credit Committee decided not to propose a new CAP value. This means that the last notified CAP of £380/MWh due to go live on 7 January 2022 will remain in place.


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

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View Consultation on Credit Assessment Price increase to £380/MWh

Consultation on Credit Assessment Price increase to £380/MWh

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.

View Credit Assessment Price increase to £305/MWh

Credit Assessment Price increase to £305/MWh

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.

 

View Consultation: Credit Assessment Price decrease to £230/MWh

Consultation: Credit Assessment Price decrease to £230/MWh

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
View Credit Assessment Price decrease to £240/MWh on 18 November

Credit Assessment Price decrease to £240/MWh on 18 November

Following a consultation, the Credit Assessment Price (CAP) value will decrease from £259/MWh to £240/MWh on Thursday 18 November 2021.

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View Consultation issued on 01 November on decrease of the CAP to £240/MWh

Consultation issued on 01 November on decrease of the CAP to £240/MWh

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.

View Alternative CAP Review process consultation

Alternative CAP Review process consultation

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.

View Credit Assessment Price increase to £259MWh from 4 November

Credit Assessment Price increase to £259MWh from 4 November

Following consultation and a subsequent meeting of The Credit Committee,  the CAP will increase on Thursday 4 November 2021 to £259/MWh, from the last notified value of £184/MWh. Please note the last notified CAP of £184/MWh will still be implemented on 21 October 2021.

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View Consultation issued on 4 October on increase of the CAP to £259/MWh

Consultation issued on 4 October on increase of the CAP to £259/MWh

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.

View Credit Assessment Price increase to £184/MWh on 21 October

Credit Assessment Price increase to £184/MWh on 21 October

Following consultation, the Credit Assessment Price (CAP) will increase on Thursday 21 October 2021 from £137/MWh to £184/MWh. Please note the last notified CAP of £137/MWh will still be implemented on 5 October 2021. 

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View BSC Insight: What is Credit Cover and how does the Credit Assessment Price affect it?

BSC Insight: What is Credit Cover and how does the Credit Assessment Price affect it?

The Credit Assessment Price has changed nine times in 2021 and we recently consulted on increasing the Credit Assessment Price again to a record high of £184/MWh. The Credit Assessment Price is used as a proxy for future Energy Imbalance Prices in the calculation of Credit Cover requirements. Emma Tribe, our Senior Product Analyst from the Analysis and Insights team, explains how the Credit Assessment Price is related to a Parties Credit Cover requirements.

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View BSC Insight: What is driving the latest increases in Credit Assessment Price?

BSC Insight: What is driving the latest increases in Credit Assessment Price?

In this BSC Insight article, Mehdi Jafari outlines the recent trends in forward market prices and how we measure the Credit Assessment Price (CAP) process effectiveness against the System Buy Price. The article also provides an update on our Insight Article in May 2021, where the sixth CAP change of 2021 was in process.

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View Credit Assessment Price to increase on 8 September 2021

Credit Assessment Price to increase on 8 September 2021

Following consultation, the Credit Assessment Price (CAP) will increase from £96/MWh to  £113/MWh, effective from Wednesday 8 September 2021.

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View Credit Assessment Price Consultation 9 August 2021

Credit Assessment Price Consultation 9 August 2021

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.

View CAP increase announced for 3 August 2021

CAP increase announced for 3 August 2021

On Tuesday 3 August 2021, the CAP value will increase from £77/MWh to £96/MWh.

The CAP review trigger level value will also increase to +/- £10/MWh.

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View Credit Assessment Price Consultation 5 July 2021

Credit Assessment Price Consultation 5 July 2021

We have issued a consultation paper on the value of the Credit Assessment Price (CAP). We invite Parties to indicate whether they agree with the proposal to increase the CAP to £96/MWh from the current value of £77/MWh.

View CAP increase announced for 16 June 2021

CAP increase announced for 16 June 2021

On Wednesday 16 June 2021, the CAP value will increase to £77/MWh. This follows a consultation which closed Tuesday 25 May 2021 with no responses disagreeing to the proposal.

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View CAP increase consultation announced 17 May 2021

CAP increase consultation announced 17 May 2021

Following an increase in forward market prices, a Credit Assessment Price (CAP) review was triggered. There is now a consultation paper on the value of the CAP which asks whether you agree with the proposal to increase the value of CAP.

The proposal is to increase the value of CAP to £77/MWh from last notified value of £70/MWh

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View CAP increase announced for 3 June 2021

CAP increase announced for 3 June 2021

On Thursday 3 June 2021, the CAP value will increase from £60/MWh to £70/MWh. This follows a consultation paper issued on Tuesday 4 May 2021 following a breach of the CAP trigger level.

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View CAP increase consultation announced 04 May 2021

CAP increase consultation announced 04 May 2021

Following an increase in forward market prices, a Credit Assessment Price (CAP) review was triggered. There is now a consultation paper on the value of the CAP which asks whether you agree with the proposal to increase the value of CAP.

The proposal is to increase the value of CAP to £68/MWh from last notified value of £60/MWh.

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View CAP increase announced for 12 May 2021

CAP increase announced for 12 May 2021

A Consultation paper on the value of Credit Assessment Price (CAP) was issued on Monday 12 April 2021 following a breach of the CAP trigger level. No responses disagreed with the proposed value and its was agreed that CAP value will increase to £60/MWh.

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View CAP increase consultation announced 12 April 2021

CAP increase consultation announced 12 April 2021

Following an increase in forward market prices, a Credit Assessment Price (CAP) review was triggered. There is now a consultation paper on the value of the CAP which asks whether you agree with the proposal to increase the value of CAP.

The proposal is to increase the CAP to £60/MWh from the last notified CAP value of £54/MWh.

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View CAP decreases to £54/MWh from 23 March 2021

CAP decreases to £54/MWh from 23 March 2021

The CAP (Credit Assessment Price) will decrease to £54/MWh from the last notified value of £64/MWh on Tuesday 23 March 2021.

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View CAP increases to £64/MWh from 23 February 2021

CAP increases to £64/MWh from 23 February 2021

The Credit Assessment Price (CAP) will increase to £64/MWh, effective from Tuesday 23 February 2021. 

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View CAP increases to £62/MWh from 27 January 2021

CAP increases to £62/MWh from 27 January 2021

The CAP will increase to £62/MWh – not the proposed £60/MWh – on Wednesday 27 January 2021.

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View Credit Assessment Price (CAP) – price stays at £30/MWh

Credit Assessment Price (CAP) – price stays at £30/MWh

The Credit Committee deemed it appropriate to keep the Credit Assessment Price (CAP) at the current price of £30/MWh. Discussions were held by the Committee regarding whether to revise the current price of £30/MWh following recent changes in forward market prices.

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View CAP decreases to £30/MWh from 16 April 2020

CAP decreases to £30/MWh from 16 April 2020

On Thursday 16 April 2020, the CAP value will decrease from £36/MWh to £30/MWh.

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View CAP review consultation – decrease from £41/MWh to £36/MWh

CAP review consultation – decrease from £41/MWh to £36/MWh

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View Credit Assessment Price review outcome January 2020

Credit Assessment Price review outcome January 2020

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View 2021 submission deadlines for Spring GC/DC values

2021 submission deadlines for Spring GC/DC values

The deadline for submitting your Generation and Demand Capacity (GC/DC) values for the Spring BSC Season is Friday 12 February 2021, if submitting via Elexon Kinnect. Alternatively, the deadline is Monday 15 February 2021, if submitting to the Central Registration Agent (CRA).

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