- I'm 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 sites, no later than seven days before the date of an auction. This will allow details of your generating station to be shown on the auction before it starts. Suppliers need this time to study the generation on offer.
- Why do you require all this information? From our experience, the generation sites that make available the most information and data tend to achieve the best prices in the auction. That's because the bidder can make a considered view on your output, thereby building 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. You can view our e-POWER power purchase agreement here. 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, REGOs and any embedded benefits. If you are a FIT generator they are bidding for your export, along with embedded benefits.
- How will I get paid? 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 has cash flow benefits: 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 cost of finding you the best price, plus providing all billing and settlement services costs only £1.50/MWh, subject to a minimum fee of £75/month for FIT generators and £250/month for RO and CfD generators. The charge covers our auction, billing and settlement services.
- 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? There are no guarantees. Yet you only have to look at our track record and the independent analysis from Cornwall Insight to compare what you could have sold your electricity for, with the prices you have been getting. We think you'll be pleasantly surprised by our results.
- What about accreditation? You are required to seek and maintain accreditation from Ofgem for the FIT, ROCs and REGOs where applicable.
- What happens to ROCs and REGOs? As the supplier is purchasing these along with your power, when they are issued by Ofgem all ROCs and REGOs (relevant to export volume only) need to be transferred to them. 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 at a breakdown of 80% to you and 20% to the supplier.
If you have any queries telephone 0191 245 7330 or email e-POWER