Background
ICIS is implementing a process of rolling consultation on all of its pricing methodologies. Consultation paper GMC53/15 is part of this formal process and covers all of the ICIS primary price points included in the publication European Clean Energy Markets (ECEM).
The consultation asked both general questions about the suitability of the ICIS ECEM methodology and questions addressing specific renewable energy certificate methodology issues, including the UK renewable power price assessments for ROCs and LECs.
Click here to download the ECEM Consultation
Responses
ICIS received two confidential responses to its ECEM consultation, with one supporting the changes suggested, and one choosing not to address the specific changes, but stating there were no concerns with the current publication overall. There were no public responses to the consultation.
ICIS Initial Decision
ICIS plans to implement a new methodology for the UK renewable obligation certificate (ROC) valuation, replacing the existing modelled ROC value with an assessment of the value traded in the over-the-counter (OTC) market, in line with ICIS’ general methodology for price assessments.
The UK government decided in July to end the climate change levy exemption granted to generators in the form of levy exemption certificates (LECs). These will no longer be issued for power generated after 1 August this year.
As a result of the UK regulatory changes, ICIS intends to cease publication of the LEC assessments.
No further changes to the ECEM methodology are planned at this time. ICIS wishes to thank those companies that responded and appreciates their input.
Please note that ICIS will continue to measure market trends and activity and gather feedback from participants on all of the markets for which it provides pricing.
ICIS continues to welcome any feedback on its renewable energy certificate methodology for ECEM outside of the formal consultation process. Please contact Sophie Udubasceanu or Zoe Double:
Sophie Udubasceanu: sophie.udubasceanu@icis.com
Zoe Double: zoe.double@icis.com
