Electricity Settlements Company (ESC) has published today, 8 January 2020, its Annual Performance Report 2019. A highlight of this year’s Annual Performance Report is the preparatory work undertaken by ESC to ensure the smooth restart of the capacity market.
ESC has published today, 24 December 2019, a new issue of the Electricity Supplier and Capacity Market Bulletin which includes an update about capacity provider standstill payments. ESC has also confirmed in this bulletin that there is no requirement for supplementary mutualisation.
A new Electricity Supplier Bulletin has been published today, 17 December 2019, which covers the Interim Levy Rate (ILR) and Total Reserve Amount (TRA) set for the second quarter of 2020. This issue also includes important information about the integration of our Transparency Tool into our new dashboards and the forthcoming ILR/TRA webinar in the New Year.
The Electricity Settlements Company (ESC) has published today, 13 December 2019, a new Electricity Supplier and Capacity Market Bulletin with information about the capacity market mutualisation invoices for standstill shortfall. Other topics in this issue are: supplementary mutualisation and collection of outstanding liabilities.
LCCC and ESC have published today, 4 December 2019, a Contracts for Difference (CfD) and Supplier Bulletin which covers updates to the CfD Register relating to projects which have recently achieved milestones under the CfD contract.
LCCC/ESC hosted a one-day conference on 14 November on the Electricity Market Reform schemes that the two companies administer: the Contracts for Difference and the Capacity Market. The slides shown to delegates on the day are now available for download.
LCCC and ESC have issued today a Contract for Difference Bulletin. This issue covers improvements to the CfD Register including the addition of data relating to Allocation Round three. Registration details for the forthcoming ILR/TRA Teleconference on 4 November and the LCCC-ESC Autumn Conference are also included.
LCCC and ESC have welcomed the opportunity to respond to the Call for Evidence on Digital Identity issued by DCMS and the Cabinet Office. These are some of our recommendations:
- Trust in digital identity would be enabled if stakeholders are subject to robust consequences for inaction, for knowingly providing false information or for interfering with others’ information;
- It would be sensible to replicate elements of other government organisations’ digital identification systems, such as the Passport Office, HMRC and DWP;
- The Passport Office has introduced a digital access portal, which could be used as an exemplar for a future digital identity portal.
LCCC and ESC have welcomed the opportunity to respond to the consultation on CCUS Business Models issued by BEIS. In our response we set out our views on deployment, delivery and ongoing commitment to the design process.
- There are different challenges for the initial deployment phase rather than post-2030 roll-out and we have focused on the initial stage;
- The CfD-inspired business models put forward by BEIS to support the deployment of capture facilities are operationally deliverable;
- LCCC looks forward to supporting BEIS in any detailed design process that might emerge.
LCCC and ESC have welcomed the opportunity to respond to the consultation on the RAB Model for New Nuclear Projects issued by BEIS. Our response puts forward these considerations:
- The setting of the Funding Cap is critical. If the right balance can be struck in the RAB funding model between risk and reward for investors, it is possible that new nuclear projects could be delivered at lower costs;
- Analysis would be required on not only those risks inherent to a nuclear building project but also on construction risks inherent to large, long-term construction projects;
- For the collection of the nuclear RAB levy, the funding model could use the CfD Supplier Obligation Regulations as a blueprint for a standalone nuclear RAB levy. Alternatively, a more expedient approach could be to simply extend the existing CfD Supplier Obligation regulations to cover the collection of monies under a nuclear RAB levy.