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) has adjusted the Interim Levy Rate (ILR) for the period from 20 May 2021 to 30 June 2021. The ILR has been adjusted to £5.755/MWh from £9.954/MWh.
Since the start of Q1 2021, LCCC has been building a surplus of income over payments, caused by a combination of lower-than-expected generator payments and higher power prices.
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.
A Stakeholder Bulletin outlining this has been published today and is available to download via the button on this webpage.