Repayment of BEIS loan in Q2 2021

Low Carbon Contracts Company (LCCC) is delighted to announce that it has repaid the BEIS loan of £75.1m using the proceeds of the CfD levies received from suppliers in Quarter 2 of 2021 (1 April 2021 to 30 June 2021).

Given the size of the loan, and the first estimate of out-turn demand as 69.4TWh, this equates to an estimated impact of £1.082/MWh over the quarter. This figure has been communicated to Ofgem for its purposes in relation to setting the price cap for suppliers.

Please note this figure, as with all other figures based on out-turns, is liable to change in future due to expected later inclusion of Green Excluded Electricity and adjustments to settled metering in future quarterly reconciliations.

Full details of the Stakeholder Bulletin sent on this update today are available via the button on this page.