Low Carbon Contracts Company & Electricity Settlements Company
The Low Carbon Contracts Company and the Electricity Settlements Company are both private limited companies owned by the Secretary of State for Business, Energy and Industrial Strategy (BEIS) and established to play key roles in the delivery of Electricity Market Reform (EMR), the biggest change to the electricity market since privatisation
The bulletin issued on 28 June 2021 outlined adjustments to the Interim Levy Rate (ILR) and Total Reserve Amount (TRA) for the Quarterly Obligation Period 1 July 2021 to 30 September 2021.
The bulletin stated, “In making this determination, LCCC has assumed the period in question will not be subject to any prolonged period of national lockdown and that reductions in demand due to COVID-19 will be 2% compared with the demand we would otherwise have expected.”
However, this should have said, “LCCC has assumed that for the period in question demand will not be materially impacted by COVID-19.”
Triton Knoll offshore wind farm: Phases 1 and 2 now online
LCCC is delighted to confirm that Phases 1 and 2 of Triton Knoll Offshore Wind Farm have achieved their Start Dates and are receiving payments under their Contracts for Difference (CfD).
Under the terms of the CfD, the contractual milestone of Operational Conditions Precedent (OCP) signifies a project has satisfied the eligibility criteria required for it to start generating electricity and receiving CfD payments. Achieving this milestone required Triton Knoll to evidence commissioning of at least 80% of its ICE (Installed Capacity Estimate) for both Phase 1 and Phase 2. Triton Knoll P1 achieved its OCP and Start Date on 17 May 2021, while P2 achieved its OCP and Start Date on 6 July 2021.
A Stakeholder Bulletin outlining both of the above items has been published today and is available to download via the button on this webpage.