Consultations on Operations and Settlement

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.