One of the great things about leading this organisation is seeing how central we are to delivering the huge investment that Net Zero requires, at an affordable cost to the consumer.
Our Mission is to accelerate the delivery of net zero. We are proud of the role we’ve played to date and extremely excited about our expansion in the future. We enable investment into low carbon technologies, starting in proven technologies such as wind and solar and moving into Hydrogen and Carbon Capture, Usage and Storage.
We do this by:
- Operating the Contracts for Difference scheme
- Managing the Capacity Market operations and oversee the payments
- We also provide expert advice to help inform policy to accelerate the delivery of net zero.
Our framework document which sets out the relationship between the LCCC and its sole shareholder, the Secretary of State for Energy Security & Net Zero, and the broad framework within which the LCCC operates can be found here.
What we do
Our journey so far…
Low Carbon Contracts Company launched
The Low Carbon Contracts Company (LCCC) and the Electricity Settlements Company (ESC) were launched. LCCC was established to help the UK meets its carbon reduction targets by incentivizing Low Carbon generation. The ESC was created to simplify the complex process of settling payments between energy suppliers and generators.
Contracts for Difference scheme introduced
The Contracts for Difference (CfD) was introduced under the Coalition Government to promote low-carbon forms of generation. It is a private law contract between a generator and the LCCC, which is owned by Government, under which the generator’s income per unit of electricity is fixed.