Elexon Credit Committee raises BSC Credit Assessment Price (CAP) to £160/MWh, effective 25 September 2026

Following a two-day consultation on raising the Credit Assessment Price (CAP) to £155/MWh, Elexon's Credit Committee decided instead to notify a CAP of £160/MWh, to take effect from 25 September 2026, replacing the current £125/MWh CAP that has been live since 7 August 2026.

The CAP is used in BSC Energy Indebtedness calculations to convert Credit Cover into an energy value; raising it increases the amount of collateral suppliers and generators must lodge with Elexon, directly affecting working capital and credit risk management for all BSC Parties amid volatile forward power prices.

This is a routine but consequential parameter adjustment under Elexon's fast-track 'alternative CAP review process' (in place since November 2021), which allows the Credit Committee to reset the CAP every two weeks using a shortened two-day consultation and ten-working-day notification cycle. The Committee's decision to set CAP above the consulted value (£160/MWh vs the proposed £155/MWh) signals it judged forward market prices (average September forward price £135-136/MWh) and recent System Prices warranted a larger buffer than initially proposed, reflecting continued 'fast market conditions'. Because the process operates on a rolling two-week cycle, this specific CAP change is best tracked as a discrete decision event distinct from the standing procedural framework; the Committee retains discretion to withdraw the notified CAP if market conditions shift materially before the 25 September effective date.

BSC Section M1.4 (Credit Assessment Price); Elexon Credit Committee CAP Review Process Guidance (alternative CAP review process in effect since 1 November 2021)

New CAP of £160/MWh becomes effective, replacing the £125/MWh CAP · 25 Sept 2026

Primary sources