WP35-CM Applicant /Capacity Provider Credit Cover Process

Transcription

1 PUBLIC WP35-CM Applicant /Capacity Provider Working Practice EMR Settlement Limited Version August 2015

2 WP35-CM APPLICANT /CAPACITY PROVIDER CREDIT COVER PROCESS CONTENTS Change Amendment Record 3 1. Introduction Scope and Purpose of the Working Practice Main Users of this Working Practice and Responsibilities Associated Documents Release of Capacity Market Registration Form and EMR Settlement Authorisations 6 3. Interface and Timetable Information Applicant Lodge Cash Applicant Lodge Letter of Credit Reduction of Applicant Cash Reduction of Applicant Letter of Credit Release of Applicant or Capacity Provider Cash Release of Applicant or Capacity Provider Letter of Credit Contact information Acronyms and Definitions Appendix 1 - Approved Form of Letter of Credit Appendix 2 - Form of Demand Appendix 3 - Notice of Approved Appendix 4 - Notice of Unapproved 32 Working Practice Page 2 of 32 WP35- CM Applicant/Capacity Provider v5.0 EMR Settlement Limited 2015

3 WP35-CM APPLICANT /CAPACITY PROVIDER CREDIT COVER PROCESS Change Amendment Record Version Date Description of Changes Changes Included Consultation s Sep 14 Go-live Version n/a n/a Sept 14 Updated to include Letter of n/a n/a Credit and revised Bank Account Details Oct 15 Updated to include revised n/a n/a Bank Account Name, IBAN and BIC/SWIFT code May 15 Updated to include WP n/a n/a number, version numbers corrected and contact telephone updated Aug 15 Updated for Capacity Market 2015 N/A N/A EMR Settlement Limited 2015 Disclaimer: Please note that whilst this document has been prepared with due care, EMR Settlement Limited does not make any representation, warranty or undertaking, express or implied, in relation to the completeness and or accuracy of information contained in this document, and accordingly EMR Settlement Limited shall not be liable for any damages resulting from the use of this information or action taken in reliance on it. Working Practice Page 3 of 32 v5.0 EMR Settlement Limited 2015

4 WP35-CM APPLICANT /CAPACITY PROVIDER CREDIT COVER PROCESS 1. Introduction In order to enter the Capacity Market Auction, some Applicants will need to lodge with the Settlement Body (Electricity Settlement Company (ESC)) as part of the prequalification process. This document covers the process to lodge and also the release of. 1.1 Scope and Purpose of the Working Practice The purpose of this working practice is to provide Applicants with information on how to lodge Credit Cover with EMR Settlement () on behalf of ESC. On Prequalification Results Day, those Applicants that receive a notice from the Delivery Body that states prequalification of their Capacity Market Unit(s) (CMU(s)) is conditional on providing Credit Cover. The Applicant must lodge with. This working practice also details, when the is updated to reflect a reduced requirement or no is required, the Applicant or Capacity Provider can make a request to for the release of. 1.2 Main Users of this Working Practice and Responsibilities This document is intended to be used by Applicants and Capacity Providers. Table 2 summarises the roles and responsibilities of those parties involved in this procedure, with respect to this procedure only. Table 2: Roles and Responsibilities for Applicants and Capacity Providers for the Applicant process Role Responsibilities Applicant 1 Capacity Provider 2 Delivery Body Electricity Settlements Company Ltd (ESC) EMR Settlement Limited (Settlement Agent) Submits to ESC. Makes a request for the partial release or release of its held with ESC. Makes a request for the partial release or release of its held with ESC. Provides Applicants with a prequalification notice following Prequalification Results Day. Updates the with updated positions. Approves the release or partial release of back to the Applicant or Capacity Provider. Validates the receipt of from Applicants. Seeks approval from the ESC to release or partial release to the Applicant or Capacity Provider. 1 An Applicant for the purpose of this procedure is a person has submitted an application for prequalification to bid in a Capacity Auction in respect of a CMU and obtained a conditional prequalification notice. 2 Capacity Provider holds a Capacity Agreement as defined in 30(1) of the Electricity Capacity s 2014 in relation to a particular capacity committed CMU. Working Practice Page 4 of 32 v5.0 EMR Settlement Limited 2015

5 WP35-CM APPLICANT /CAPACITY PROVIDER CREDIT COVER PROCESS 1.3 Associated Documents This working practice should be read in conjunction with the following documents: Document 3 Electricity Capacity s 2014 Capacity Market Rules Capacity Market (Amendment) (No.1) Rules 2014 Capacity Market (Amendment) (No.2) Rules 2014 Capacity Market (Amendment) Rules 2015 Capacity Market Operational Plan WP22 Applicant/Capacity Provider Registration 6 EMR Settlement Authorisations 7 2. can be lodged in the form of cash or Letter of Credit for each applicable CMU. If lodging cash, the specified bank account is detailed within Section 3.1 and the approved Letter of Credit template is located in Appendix 5 and 6 of this document. The amount of required is equal to the CMU de-rated capacity in Megawatt (MW) multiplied: by 5,000/MW for CMU s for the T-4 auction by 500/MW for CMU s for the DSR transitional auction8 The notice of conditional prequalification issued by the Delivery Body will state the de-rated capacity for each CMU and the applicable auction. Within 15 working days of lodging the Applicant will receive per CMU a Notice of Approved or a Notice of Unapproved from the on behalf of the ESC. The Applicant must provide the Notice of Approved to the Delivery Body or resubmit Credit Cover to be approved. 3 s can be found at 4 Capacity Market Rules can be found at 5 Capacity Market Operational Plan is published by the Delivery Body and can be found at 6 WP22 Applicant/Capacity Provider Registration can be found at 7 EMR Settlement Authorisations guidance can be found at details the DSR Transitional Auction in the Capacity Market s 2014 Working Practice Page 5 of 32 v5.0 EMR Settlement Limited 2015

6 WP35-CM APPLICANT /CAPACITY PROVIDER CREDIT COVER PROCESS 2.1 Release of Once the release of has been approved by the ESC this will be released into the bank account specified or the address the Letter of Credit is to be returned specified on the Capacity Market Registration Form. 2.2 Capacity Market Registration Form and EMR Settlement Authorisations An Applicant submitting will need to complete the Capacity Market Registration Form at the same time. This process is detailed in the WP22 Applicant/Capacity Provider Registration. 9 The Capacity Market Registration Form confirms your Company s Primary Address, which will be used to communicate your Approval or Unapproved Notice. Also, establishes your EMR Settlement Authorisations and more information on this can be located within the EMR Settlement Authorisations guidance document WP22 Applicant/Capacity Provider Registration can be found at 10 EMR Settlement Authorisations guidance can be found at Working Practice Page 6 of 32 v5.0 EMR Settlement Limited 2015

7 3. Interface and Timetable Information 3.1 Applicant Lodge Cash This details the process when the Applicant lodges in the form of cash (3) Rule Applicants are required to provide Credit Cover within 5 WDs after receiving the conditional prequalification notice 11 Lodge in cash Applicant Bank Account 12 Account Details Bank: Natwest Account Name: GBS Re ESC Bid Bond Collateral Acc. No.: Sort Code: IBAN: GB72NWBK BIC/SWIFT: NWBKGB2L Electronic Bank Transfer Following WD from Monitor Bank Account for new Internal 11 On the fifth working day after Prequalification Results Day the credit cover must to be received before hours into the Bank Account. 12 A specified bank account by the ESC as defined within the s 54(4). Working Practice Page 7 of 32 v5.0 EMR Settlement Limited 2015

8 (3)(b) No later than 15 WDs after is received Validate received Validate received Amount received in accordance with 59 Cash is in accordance with 54(2)(b) Internal Following approved, send Notice of Approved Applicant ESC Notice of Approved Rule Following 3.1.4, within 5 WDs or no later than 32 WDs from Prequalification Results Day Send Notice of Approved Credit Cover END PROCESS Applicant Delivery Body or Portal Following not approved, send Notice of Unapproved Credit Cover Applicant ESC Notice of Unapproved Working Practice Page 8 of 32 v5.0 EMR Settlement Limited 2015

9 (2) Following and within 5 WDs, but no later than last day to resubmit Credit Cover13. Submit additional Applicant Bank Account Account Details Bank: Natwest Account Name: GBS Re ESC Bid Bond Collateral Acc. No.: Sort Code: IBAN: GB72NWBK BIC/SWIFT: NWBKGB2L Electronic Bank Transfer (3)(a) Within 2 WDs of receiving additional (3.1.7) and no later than last day to approve resubmitted Credit Cover14. Validate additional received Credit Cover Validate received Amount received in accordance with 59 Cash is in accordance with 54(2)(b) Internal 13 For the purpose of this version of the Working Practice the last day to re-submit applicant credit cover is Friday 6 November For the purpose of this version of the Working Practice the last day to approve resubmitted is Tuesday 10 November Working Practice Page 9 of 32 v5.0 EMR Settlement Limited 2015

10 Following is approved, send Notice of Approved Applicant ESC Notice of Approved Notice of Unapproved is not approved, send Notice of Unapproved Credit Cover and follow from step Rule Within 5 WDs or no later than 32 WDs from Prequalification Results Day Send Notice of Approved Credit Cover END PROCESS Applicant Delivery Body or Portal Working Practice Page 10 of 32 v5.0 EMR Settlement Limited 2015

11 3.2 Applicant Lodge Letter of Credit 15 This details the process when the Applicant lodges in the form of a Letter of Credit (3) Rule Applicants are required to provide Credit Cover within 5 WDs after receiving the conditional prequalification notice 16 Lodge Letter of Credit Applicant Specified Address EMR Settlement Limited, 4 th Floor, 350 Euston Road, London, NW1 3AW Post Following WD from Monitor post for Letter of Credit Internal (3)(b) No later than 15 WDs after is received Validate received Credit Cover Validate received Amount received in accordance with 59 LoC is in accordance with Internal 15 The approved form of the Letter of Credit by the Settlement Body (Electricity Settlements Company) is located in Appendix On the fifth working day after Prequalification Results Days the Letter of Credit must to be received before hours at the specified address. 17 To ensure safe and secure receipt of Letters of Credit please use secure courier service that provides a tracking facility. Please send an confirming the despatch of the Letter of Credit to contact@emrsettlement.co.uk. Working Practice Page 11 of 32 v5.0 EMR Settlement Limited 2015

12 54(3) Following approved, send Notice of Approved Applicant ESC Notice of Approved Rule Following 3.2.4, within 5 WDs or no later than 32 WDs from Prequalification Results Day Send Notice of Approved END PROCESS Applicant Delivery Body or Portal Following not approved, send Notice of Unapproved Applicant ESC Notice of Unapproved (2) Following 3.2.6, and within 5 WDs, but no later than last day to resubmit Credit Cover 18. Additional Applicant Specified Address EMR Settlement Limited, 4 th Floor, 350 Euston Road, London, NW1 3AW Post For the purpose of this version of the Working Practice the last day to re-submit applicant credit cover is Friday 6 November To ensure safe and secure receipt of Letters of Credit please use secure courier service that provides a tracking facility. Please send an confirming the despatch of the Letter of Credit to contact@emrsettlement.co.uk. Working Practice Page 12 of 32 v5.0 EMR Settlement Limited 2015

13 (3)(a) Following 3.2.7, and within 2 WDs of receiving additional (3.2.6) and no later than last day to approve resubmitted 20. Validate additional received Validate received Amount received in accordance with 59 LoC is in accordance with regulation 54 (3) Internal Following is approved, send Notice of Approved Applicant ESC Notice of Approved Notice of Unapproved is not approved, send Notice of Unapproved and follow from step Rule Following 3.2.9, and within 5 WDs or no later than 32 WDs from Pre- Send Notice of Approved END PROCESS Applicant Delivery Body or Portal 20 For the purpose of this version of the Working Practice the last day to approve resubmitted is Tuesday 10 November Working Practice Page 13 of 32 v5.0 EMR Settlement Limited 2015

14 qualification Results Day. Working Practice Page 14 of 32 v5.0 EMR Settlement Limited 2015

15 3.3 Reduction of Applicant Cash Applicant s that own unproven DSR CMUs may elect a lower bid capacity than de-rating factor as per Rule This means a reduction of the Credit Cover and Applicants may request the release of the excess Rule Prior to the start of the Capacity Market Auction Applicant elect lower bid capacity than their derating factor 21 Delivery Body Rule (2) Following 3.3.1, when the Capacity Market Register is updated Request the release of excess Applicant 22 contact@emrsettlement.co.uk Following Acknowledge receipt of request from Applicant Applicant Within 5 WDs of Validate request to release excess Credit Cover Validate request: EMR Settlement Authorisations amount Internal 21 Unproven DSR elected lower bid capacity than de-rating factor. 22 The request needs to be made by the Authorised contact as specified on the Capacity Market Registration Form. Working Practice Page 15 of 32 v5.0 EMR Settlement Limited 2015

16 3.3.5 Following Where successfully validated seek approval to release excess Credit Cover Following Where not successfully validated send notification (start from 3.3.2) ESC Request from Applicant Applicant Request from Applicant Within 5 WDs of Approve the release of excess and confirm if the release of excess is approve or unapproved ESC Internal Following Send notification that request is approved Applicant (3) Same WD as Release excess Cash END PROCESS ESC Applicant Cash is returned to bank account specified on the Capacity Market Registration Form Bank transfer Working Practice Page 16 of 32 v5.0 EMR Settlement Limited 2015

17 Following Where request is unapproved send notification to Applicant (start from 3.3.2) Applicant END PROCESS Working Practice Page 17 of 32 v5.0 EMR Settlement Limited 2015

18 3.4 Reduction of Applicant Letter of Credit 23 Applicant s that own unproven DSR CMUs may elect a lower bid capacity than de-rating factor as per Rule This means a reduction of the Credit Cover and Applicants may request the release of the excess Rule Prior to the start of the Capacity Market Auction Applicant elect a lower bidding capacity than their de-rated capacity 24 Delivery Body Update the Rule (2) Following 3.4.1, when the Capacity Market Register is updated Request the release of excess Credit Cover Applicant 25 contact@emrsettlement.co.uk and Post Following Acknowledge receipt of request from Applicant Applicant 23 The approved form of the Letter of Credit by the Settlement Body (Electricity Settlements Company) is located in Appendix Unproven DSR elected lower bid capacity than de-rating factor. 25 The request needs to be made by the Authorised contact as specified on the Capacity Market Registration Form. 26 To ensure safe and secure receipt of Letters of Credit please use secure courier service that provides a tracking facility. Please send an confirming the despatch of the Letter of Credit to contact@emrsettlement.co.uk. Working Practice Page 18 of 32 v5.0 EMR Settlement Limited 2015

19 3.4.4 Within 5 WDs of Validate request to release excess Credit Cover Validate request: EMR Settlement Authorisations amount Internal Following Where successfully validated seek approval to release excess ESC Request from Applicant Following Where not successfully validated send notification (start from step 3.4.2) Applicant Request from Applicant Within 5 WDs of Following Approve the release of excess Credit Cover and confirm if the release of excess is approve or unapproved Send notification that request is approved ESC Internal Applicant Working Practice Page 19 of 32 v5.0 EMR Settlement Limited 2015

20 (3) Following Release excess Credit Cover - Letter of Credit 27 END PROCESS ESC Applicant Letter of Credit is returned back to the address specified on the Applicant/Capacity Provider Registration Form Post Following Where request is unapproved send notification to Applicant (start from 3.4.2) END PROCESS Applicant 27 Release of partial Letter of Credit requires either an Amendment to the original Letter of Credit or new Letter of Credit submitted and approved before the original could be returned. This will follow the process detailed in the Lodge Applicant Letter of Credit in 3.2. Working Practice Page 20 of 32 v5.0 EMR Settlement Limited 2015

21 3.2 Release of Applicant or Capacity Provider Cash will only be released if the Applicant has provided their contact and bank account details Rule Following the results from the Capacity Auction or notice of an event entitling the Applicant or Capacity Provider to the release of Capacity Market Register updated Delivery Body (2) Following 3.5.1, when the Capacity Market Register is updated Request the release of any Applicant/Capacity Provider The request needs to be made by the Authorised contact as specified on the Capacity Market Registration Form. Working Practice Page 21 of 32 v5.0 EMR Settlement Limited 2015

22 3.5.3 Following Acknowledge receipt of request Applicant/ Capacity Provider Within 5 WDs of Validate request to release Validate request: EMR Settlement Authorisations amount Internal Following Where successfully validated seek approval to release ESC Request from Applicant Following Where not successfully validated send notification (start from 3.5.2) Applicant/ Capacity Provider Request from Applicant Within 5 WDs of Approve the release of and confirm if the release of is approve or unapproved ESC Internal Working Practice Page 22 of 32 v5.0 EMR Settlement Limited 2015

23 3.5.8 Following Send notification that request is approved Applicant/ Capacity Provider (3) Following Release Cash Credit Cover END PROCESS ESC Applicant/ Capacity Provider Cash is returned to bank account specified on the Capacity Market Registration Form Bank transfer Following Where request is unapproved send notification to Applicant (start from step 3.5.2) Applicant/ Capacity Provider END PROCESS Working Practice Page 23 of 32 v5.0 EMR Settlement Limited 2015

24 3.6 Release of Applicant or Capacity Provider Letter of Credit will be released if the Applicant has provided their contact and address details Rule Following the results from the Capacity Auction or notice of an event entitling the Applicant or Capacity Provider to the release of Capacity Market Register updated Delivery Body (2) Following 3.6.1, when the Capacity Market Register is updated Request the release of Applicant/ Capacity Provider 29 and Post The request needs to be made by the Authorised contact as specified on the Capacity Market Registration Form. 30 To ensure safe and secure receipt of Letters of Credit please use secure courier service that provides a tracking facility. Please send an confirming the despatch of the Letter of Credit to contact@emrsettlement.co.uk. Working Practice Page 24 of 32 v5.0 EMR Settlement Limited 2015

25 3.6.3 Following Acknowledge receipt of request Applicant/ Capacity Provider Within 5 WDs of Validate request to release Validate request: EMR Settlement Authorisations amount Internal Following Where successfully validated seek approval to release ESC Request from Applicant Following Where not successfully validated send notification (start from step 3.4.2) Applicant/ Capacity Provider Request from Applicant Within 5 WDs of Approve the release of and confirm if the release of is approve or unapproved ESC Internal Working Practice Page 25 of 32 v5.0 EMR Settlement Limited 2015

26 3.6.8 Following Send notification that request is approved Applicant/ Capacity Provider (3) Following Release - Letter of Credit 31 END PROCESS ESC Applicant/ Capacity Provider Letter of Credit is returned back to the address specified on the Capacity Market Registration Form 32 Post Following Where request is unapproved send notification to Applicant (start from 3.6.2) Applicant/ Capacity Provider END PROCESS 31 Release of partial Letter of Credit requires either an Amendment to the original Letter of Credit or a new Letter of Credit submitted and approved before the original could be returned. This will follow the process detailed in the Lodge Applicant Letter of Credit in Letter of Credit will be released via secure courier with tracking. An confirming that the Letter of Credit has been couriered including the tracking information will also be sent. We ask that confirmation of receipt of the Letter of Credit to contact@emrsettlement.co.uk. Working Practice Page 26 of 32 v5.0 EMR Settlement Limited 2015

27 WP35-CM APPLICANT /CAPACITY PROVIDER CREDIT COVER PROCESS 4. Contact information For queries regarding either or the process contained in this document please contact: Contact Organisation EMR Settlement Limited (Settlement Agent) Contact Telephone: : contact@emrsettlement.co.uk 5. Acronyms and Definitions A full list of acronyms and definitions included within this document can be found on the website The acronyms and definitions document can be found in the useful links section on the publication pages on the website: Working Practice WP35- CM Applicant/Capacity Provider Page 27 of 32 v5.0 EMR Settlement Limited 2015

28 WP35-CM APPLICANT /CAPACITY PROVIDER CREDIT COVER PROCESS 6. Appendix 1 - Approved Form of Letter of Credit To: Electricity Settlements Company Limited [DATE] Dear Sirs, IRREVOCABLE STANDBY LETTER OF CREDIT NUMBER: [NUMBER] 1. By this letter we, [insert name of issuer], 34 establish our irrevocable standby letter of credit ( letter of credit ) number [number] in your favour at the request of [name of relevant applicant/capacity provider] 35 (the Principal ) of [address of relevant applicant/capacity provider] for the maximum aggregate pounds sterling 36 amount of [ amount] (the Maximum Amount ). 2. This letter of credit is established in connection with the Principal s obligations to provide credit cover under the Electricity Capacity s 2014 (as amended or modified from time to time) (the Capacity s ). 3. We unconditionally and irrevocably undertake to pay you, in Pounds Sterling to the bank account set out in your written demand for payment, the amount you claim on the date we receive your duly completed written demand at [insert details of the issuing bank, department name and/or officer and address Note: insert at least one precise location as close as possible to Fleetbank House, 2-6 Salisbury Square, EC4Y 8JX] or at any of our other London branches subject to the following conditions: your demand must be received by us by [time] p.m. (London time) on the Expiry Date (as defined in paragraph 4); and your demand must be substantially in the form attached to this letter of credit signed by you stating that you are entitled under the Capacity s to draw down credit cover provided by the Principal under the Capacity s and the amount claimed which, in aggregate with any other claims made under this letter of credit, must not exceed the Maximum Amount of the Capacity s requires the Issuer of the letter of credit to be: a. a United Kingdom clearing bank, b. any other bank which has a long term debt rating of o not less than A3 by Moody s Investors Service, Inc. (incorporated in the US State of Delaware with file number ); or o not less than A- by Standard & Poor s Corporation (incorporated in the US State of Delaware with file number ), or c. Such other bank as the Settlement Body may approve. 35 The Principal must be the person who is required to provide the credit cover under the Capacity s. The name of the Principal needs to match the name of the applicant/capacity provider as held in the records of ESC. 36 Letter of credit must be in pounds sterling. Working Practice WP35- CM Applicant/Capacity Provider Page 28 of 32 v5.0 EMR Settlement Limited 2015

29 WP35-CM APPLICANT /CAPACITY PROVIDER CREDIT COVER PROCESS 4. This letter of credit shall expire at [time] p.m. (London time) on [date] ( Expiry Date ), after which we shall have no further liability to you, except in relation to any demand validly presented before expiry of this letter of credit that remains unpaid. 5. A demand may be made for less than the Maximum Amount (a Partial Drawing ). 6. More than one demand may be made ( Multiple Demands ). The aggregate of the Multiple Demands shall not exceed the Maximum Amount. 7. Payments under this letter of credit will be effected immediately to the account you specify in your demand. 8. This letter of credit and any dispute or claim arising out of or in connection with it or its subject matter or formation (including non-contractual disputes or claims) shall be governed by, and construed in accordance with, the law of England and Wales. The parties to this letter of credit irrevocably agree that the courts of England and Wales shall have exclusive jurisdiction over any dispute or claim arising out of or in connection with this letter of credit or its subject matter or formation (including non-contractual disputes or claims). 9. Except to the extent it is inconsistent with the express terms of this letter of credit, this letter of credit is subject to the International Standby Practices ISP 98, ICC Publication No Yours faithfully,... For and on behalf of [Issuing bank] Working Practice WP35- CM Applicant/Capacity Provider Page 29 of 32 v5.0 EMR Settlement Limited 2015

30 WP35-CM APPLICANT /CAPACITY PROVIDER CREDIT COVER PROCESS 7. Appendix 2 - Form of Demand To: [issuing bank, department and/or officer name and address] [DATE] Dear Sirs, DEMAND UNDER IRREVOCABLE STANDBY LETTER OF CREDIT NUMBER: [NUMBER] We, Electricity Settlements Company Limited, refer to the irrevocable letter of credit ( letter of credit ) number [number] issued by you in our favour. This is a written demand under the letter of credit. Terms defined in the letter of credit have the same meaning in this demand. We certify that we are entitled under the Capacity s to draw down credit cover provided by the Principal under the Capacity s. The amount claimed by us is [currency and amount] ( Claimed Amount ), which we hereby demand. We further certify that the aggregate of the Claimed Amount and all other amounts previously claimed by us under the letter of credit does not exceed the Maximum Amount specified in the letter of credit. This demand is dated on or before the Expiry Date set out in the letter of credit. We hereby demand immediate payment of the Claimed Amount and that the Claimed Amount be paid into the following bank account: [details of account to be inserted by ESC]. Yours faithfully,... For and on behalf of Electricity Settlements Company Limited Working Practice WP35- CM Applicant/Capacity Provider Page 30 of 32 v5.0 EMR Settlement Limited 2015

31 WP35-CM APPLICANT /CAPACITY PROVIDER CREDIT COVER PROCESS 8. Appendix 3 - Notice of Approved This is an example of the Notice of Approved issued by the ITSP to the Applicant. Detailed specification for report / notice Name: CfD / CM: To: Description: Notice of approved CM CM Capacity Providers A notice stating that the provided by the applicant has been approved Data items: Date of notice DATE Date of issue of the notice Applicant/ Capacity provider CHAR The identification of the Applicant CMU ID CHAR The identification of the CMU which the was provided with respect to Required amount of The total amount of required for that CMU Total received amount Credit Cover in the form of Cash The amount of (including the additional ) that was received from the applicant as a cash deposit Date the cash was received DATE The date which the latest cash deposit was received Received amount of in the form of a Letter of Credit The amount of (including the additional ) that was received from the applicant as a letter of credit Date the Letter of Credit was received DATE The date which the Letter of credit was received Letter of Credit Expiration date DATE The expiry date of any approved Letter of Credit that has been lodged Total amount of received Approval of The sum of the amount of received in the form of cash and Letter of Credit CHAR/text This states the received has been approved Working Practice WP35- CM Applicant/Capacity Provider Page 31 of 32 v5.0 EMR Settlement Limited 2015

32 WP35-CM APPLICANT /CAPACITY PROVIDER CREDIT COVER PROCESS 9. Appendix 4 - Notice of Unapproved This is an example of the Notice of Unapproved issued by the ITSP to the Applicant. Detailed specification for report / notice Name: CfD / CM: To: Description: Notice of unapproved CM CM Capacity Provider A notice stating that the provided by the applicant has not been approved and the reason it was not approved Data items: Date of notice DATE Date of issue of the notice Applicant/Capacity provider CHAR The identification of the Applicant CMU ID CHAR The identification of the CMU which the was provided with respect to Required amount of The total amount of required for that CMU Total received amount in the form of Cash The amount of (including the additional ) that was received from the applicant as a cash deposit Date the cash was received DATE The date which the latest cash deposit was received Received amount of in the form of a Letter of Credit The amount of (including the additional ) that was received from the applicant as a letter of credit Date the Letter of Credit was received DATE The date which the latest Letter of Credit was received Letter of Credit Expiration date DATE The expiry date of any approved Letter of Credit that has been lodged Total amount of received Non-approval of The sum of the amount of received in the form of cash and Letter of Credit CHAR/text This states the received has not been approved Reason for non-approval Text The reason the has not been approved Date for additional DATE If the was not approved this is the date by which the additional will need to be provided Working Practice WP35- CM Applicant/Capacity Provider Page 32 of 32 v5.0 EMR Settlement Limited 2015