|
Congratulations! You are now on the path to realizing the full value of your power.
This should answer your questions and tell you how to get started. If you have any further questions, simply email e-power@nfpas.co.uk or call us on 0191 245 7330.
What must I do to sell my electricity in the e-POWER auction?
There are three simple steps to take:-
- Sign an Agency Agreement this appoints us to act on your behalf to sell your power to the highest bidder. The agreement is an evergreen one but only commits you to sell in the upcoming auction
- Provide details about your site / sites by filling out this simple form
- If you have it, e-mail a spreadsheet of half hourly data to e-power@nfpas.co.uk so suppliers can get a good idea of what they are bidding for, or if you are a new generator and do not have historical half hourly data email your expected export profile to e-power@nfpas.co.uk
As a new user, how long will it take to register for an auction?
You can sign the Agency Agreement at any time but we must have it (along with information about your site(s)) no later than 7 days before the date of an auction. This will allow details of your generating station to be shown on the auction before the auction starts. Suppliers need this time to study the generation on offer.
Why do we require all this information?
The generation sites that make available this level of information and data tend to achieve the best prices in the auction as the bidder can make a considered view on your output and therefore build in less risk and discount into their bid.
Will there be a power purchase agreement?
Yes. We will provide a PPA between you and the successful bidder. The standard e-POWER power purchase agreement contract can be viewed on the website. The cover page and schedules contain the information specific to your project and the supplier purchasing your power. This will need to cover the full contract length.
What is the supplier bidding for in the auction?
They are bidding for all the power and associated renewable benefits from your generation site for the full contract period. For example if you are in the RO this will include the power, ROCs, LECs, REGOs and any embedded benefits. If you are a FIT generator they are bidding for the export part of your power, along with LECs and embedded benefits.
How will I get paid for the electricity and renewable benefits sold at auction?
The successful bidder will provide us with metering data each month, which will allow us to invoice them. We collect the payment from the supplier. You invoice us and we then make the payment to you. In cash flow terms this means that you will be paid in full at the end of the following month. This is very positive for cash flow as for example you receive payment for your April generation at the end of May.
How much will it cost me to use the e-POWER auction?
The charge is £1/MWh, subject to a minimum fee of £200 for RO generators and £50 for FIT generators per billing month. The charge covers our auction, billing and settlement services. The Cornwall Energy analysis and revenue comparator tool includes these charges.
Can I specify a reserve price for my electricity?
Yes you may agree with us a reserve price for the electricity and renewable benefits you sell in our auction. Bidders will see the reserve price when the auction starts.
How can I be sure I'll get the best price for my electricity?
You only have to look at our track record and the independent analysis from Cornwall Energy to compare what you could have sold your electricity for, with the prices you have been getting. We think you'll find our results very attractive.
What about accreditation?
You are required to seek and maintain accreditation from Ofgem for the FIT, ROCs, LECs and REGOs where applicable.
What happens to ROCs, LECs and REGOs?
As the supplier has bought these as part of the auction price, when they are issued by Ofgem all ROCs, LECs and REGOs (relevant to export volume only) need to be transferred to the winning supplier. We can manage that whole process for you via the Ofgem register.
Who gains from Triad Avoidance Benefit?
The Triad Avoidance Benefit, calculated and collected by us, is shared - 80% to you and 20% to the supplier.
The next auction is due to take place on 27th November 2014.
If you have any queries telephone 0191 245 7330 or email
e-POWER
Agency Agreement
Click
here to download a pdf version
Power Purchase Agreement
Click
here to download a pdf version
Registration Form
Click
here to download a pdf version
e-POWER Auction Code
Click
here to download a pdf version
|
