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 YOU ARE HERENewsDelay in applying increased Credit Assessment Price  
AUG 2018
17
Delay in applying increased Credit Assessment Price
Originally published by Nathalie Palazzo on 17/08/2018 15:51:17

Delay in applying increased Credit Assessment Price 

What is happening?
The Credit Assessment Price (CAP) of £59/MWh was due to be effective from Settlement Period 1 (00:00) on 15 August 2018, as per the News Item.

There has been a system issue which has caused a delay in applying the new CAP value and as such Parties’ Credit Cover Percentage has continued to be calculated using the previous CAP of £53/MWh.

The correct CAP value £59/MWh has been applied and Energy Contract Volume Aggregation Agent (ECVAA) will use the new Actual Energy Indebtedness (AEI) from Settlement Period 1 on 18 August 2018. 

How will I be impacted?
The Credit Cover Percentage calculation has been re-run today following the update to the CAP value and changes will be correctly reflected from Settlement Period 1 (00:00) on 18 August 2018. The ELEXON Portal will not display the correct indebtedness total and percentage until the new AEI is effectively used by ECVAA tomorrow.

As a result of applying the new CAP value, Parties may notice a change in their Credit Cover Percentage. If there are any Credit warnings on 18 August 2018, a Query Period will operate as per normal business processes until 14:00 Monday 20 August 2018.
 
Is there anything else I need to know?
If there are any concerns in relation to this, please contact credit-default@elexon.co.uk

 

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