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 Electricity Settlements Company (ESC) has announced that capacity providers have today been paid over £1bn in full settlement of their deferred capacity payments for the standstill period. The payment is a major milestone in the restart of the capacity market scheme, following suspension of payments to generators and collections from suppliers as a result of the November 2018 ruling by the European Union General Court of Justice, and the consequent introduction of a standstill period for the scheme.
LCCC and ESC have also announced today, 20 January 2020, the publication of new capacity market dashboards with data and metrics
Electricity Settlements Company (ESC) has published today, 8 January 2020, its Annual Performance Report 2019.
On 15 November 2018 the judgment of the General Court of the Court of Justice of the European Union had the effect of annulling the European Commission’s State Aid approval for the CM and introduced a standstill period. This standstill period covered the period from 15 November 2018 until 25 October 2019, being almost the entirety of the capacity year to which this report relates.
During the standstill period, ESC