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
Low Carbon Contracts Company (LCCC) and Electricity Settlements Company (ESC) have today published their annual reports and accounts for 2020-21.
The reports provide a detailed account of the work and achievements of both companies over the previous financial year (1 April 2020 to 31 March 2021). The year of operating during the COVID-19 pandemic has been critical in demonstrating the resilience of the Contracts for Difference (CfD) and Capacity Market (CM) schemes we manage. Key developments have included:
- CfD portfolio progress – five CfD projects became operational during 2020/21, increasing the total installed capacity commissioned under the CfD scheme to 5.6GW. Newly operational projects contributed to a combined low carbon electrical output from the CfD portfolio of 22.66TWh between 1 April 2020 and 31 March 2021 – equivalent to that required to power Scotland in 2020.
- Capacity Market – our focus in 2020/21 has been on streamlining processes and providing increased public data. A new metered data portal for capacity providers was launched to improve visibility of Stress Events, ‘Satisfactory Performance Day’ and Demand Side Response tests. In addition, the Capacity Market forecast dashboard was introduced in response to feedback received from electricity suppliers.
- Introduction of the Data Portal – requested by electricity suppliers, our new Data Portal (lowcarboncontracts.uk/data-portal) enables direct downloads of CfD and Capacity Market Data, supporting the aims of the Open Data initiative.
For further details and comment from Neil McDermott, LCCC Chief Executive, please refer to our full press release.
A Stakeholder Bulletin outlining the update has also been shared today and is available to download via the button on this webpage.