LCCC have determined the Interim Levy Rate (ILR) and the Total Reserve Amount (TRA) for the Quarterly Obligation Period from 1 July 2024 to 30 September 2024.
We have determined the Interim Levy Rate (ILR) and the Total Reserve Amount (TRA) for the Quarterly Obligation Period from 1 July 2024 to 30 September 2024.
The amounts for Q3 2024 are:
ILR = £ 11.816 /MWh
TRA = £ 213,397,705.39
In making this determination, we have noted the ongoing, downward trend in power markets and are closely monitoring in case of further falls. Market prices for this calculation were taken as closing mid-prices on 28 February 2024 as shared in the Market Reference Date bulletin.
We will be monitoring market prices closely and will make an adjustment to the ILR and/or TRA if the prices move in such a way as to lead LCCC to expect over-collection or that the TRA and ILR may be insufficient to cover CfD costs.
Note that once the quarter has started, the TRA can only be increased, while ILR can be increased or decreased.
For further details on LCCC’s calculations, please refer to our online CfD Levy Dashboards where you will also find a calendar of future key levy dates and the EMRS website.
Quarterly Webinar
Our quarterly webinar is an opportunity for you to engage with us and ask questions about our forecasts.
The next webinar will be held on 24th April at 10am, where we will also compare the outturn in Q1 2024 with our forecasts and discuss the ILR and TRA for Q3 2024.
You can register here to secure your spot.
We welcome any suggestions or feedback on what else it would be useful for us to discuss during the webinar, you can send them our way via info@lowcarboncontracts.uk.
Minor and Necessary Window now open
The Minor and Necessary Modifications Window for AR6 is now open. This is the window for potential applicants to make their formal request to LCCC for Minor and Necessary modifications.
We have also published a webinar on the Minor & Necessary Modifications to help applicants navigate the process.
Click here to access the webinar and the guidance.