Unpaid Capacity Market charges worth £10.9 million will be recovered from across suppliers and redistributed to contract holders as part of the mutualisation process following its recent standstill, the Electricity Settlements Company has announced.
The shortfall is less than one per cent of the almost £1.1 billion in charges deferred during the nearly year-long suspension, and around of quarter of the £38.2 million outstanding on 22 November.
The majority – £6.1 million – is owed by the eleven suppliers that ceased trading over the period. There are now just seven operational suppliers in arrears – Breeze Energy, Enstroga, Euston Energy, Foxglove Energy Supply, Nabuh Energy, PFP Energy Supplies and Utility Point. They collectively owe more than £4.8 million.
The unpaid bills will be recovered from all other operational suppliers in proportion to their share of the electricity market in terms of net demand. If a defaulting supplier subsequently pays off its debts, then the corresponding mutualisation payments will be returned as part of the routine reconciliation process.
The first invoices for mutualisation payments have already been sent out to suppliers and will be due this Friday (20 December).