Guidance and Publications

ESC Voluntary Payment Terms and Conditions

Posted 11.04.2019

The document outlines the terms and conditions under which the Electricity Settlements Company (ESC) allows electricity suppliers to make voluntary payments. These payments are related to the potential standstill collection period supplier charge for the delivery year 2018/19. The ESC holds these payments in an interest-bearing account and applies them according to specific events outlined in the Electricity Capacity Regulations.

Key Points:

1. Voluntary Payment Setup: Following BEIS’s consultation response, ESC set up an interest-bearing account for suppliers to voluntarily pay amounts towards their potential standstill collection period supplier charge for delivery year 2018/19.
2. Payment Application and Conditions: Voluntary Payments are held by ESC and will be offset against the supplier’s standstill collection period supplier charge if payment trigger events occur, or returned with accrued interest if termination trigger events occur.
3. Terms for Holding and Returning Payments: Payments must be made via electronic funds transfer, and any excess amounts will be returned. Suppliers can request the return of payments before trigger events without interest, and ESC will provide account statements upon request.