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, 30 September 2020, published their annual reports and accounts for 2019-20.
The reports cover the period 1 April 2019 to 31 March 2020 – an interesting year for LCCC and ESC and the Contracts for Difference (CfD) and Capacity Market (CM) schemes they manage.
The reports provide a detailed account of the work and achievements of both companies over the previous financial year, with key developments including:
- CfD portfolio progress - 11 CfD projects became operational and 22 new Allocation Round 3 CfDs were signed
- Capacity Market restart - over £1bn of deferred capacity payments were paid to Capacity Providers who were available during the Standstill Period
- Corporate developments - we welcomed Regina Finn, our new Chair, as well as new Board members Declan Burke, Steph Hurst, Amanda Aldridge, Maxine Mayhew and George Pitt
For further details and comment from Neil McDermott, LCCC Chief Executive, please refer to our full press release.