The Capacity Market has now been reinstated. If you had an agreement in the T4 2016 or 2017 auctions and you have withdrawn the credit cover or if you have conditionally Prequalified in T1 2019 you will be required to repost credit cover with the EMR Settlement Body by Friday 20 December. For Applications from the recent Prequalification round in October 2019 that are required to lodge credit cover with the EMR Settlement Body you will need to do this by Friday 15 November.
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    ​CfD Process

    National Grid ESO is the Delivery Body for Electricity Market Reform (EMR). Part of this role includes the qualification of applicants and the allocation of Contracts for Difference (CfDs) in accordance with the CfD legislative framework and a number of Department for Business, E​nergy and Industrial Strategy (BEIS) documents that are specific to each Allocation Round. ​

    CfD overview process flow.PNG
    Process flow for CfD activities

    ​Once the qualification process is complete, the Delivery Body will proceed with CfD valuation and allocation.

    During application valuation, the Delivery Body will compare the aggregate financial value of all qualifying applications for each delivery year with the applicable budgets for each pot and any other limits set out in the relevant Budget Notice, to determine if there is a requirement for a competitive allocation process (auction).

    Valuation of each application is carried out using the valuation formula set out in the CfD Allocation Framework.

    If the pot budget is not exceeded each qualifying application will be offered a CfD at the Administrative Strike Price for its technology (unconstrained allocation). If the budget is exceeded, then the Delivery Body will run an auction (constrained allocation) to ration the available budget amongst the most competitive qualifying applicants.​​

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