Security of Supply: Generator Financial Reporting Obligations
The CRU has today, 03 February 2023, published a financial reporting template to support generator submissions as outline in its decision paper “Security of Supply: Generator Financial Reporting Obligations” (CRU2211) on proposals for generators to provide additional financial reporting to the CRU to help mitigate the risk of a future disorderly exit. This report is to be submitted to the CRU yearly 01 June 2023 onwards unless otherwise stated by the CRU.
In its decision paper “Security of Supply: Generator Financial Reporting Obligations” (CRU2211) the CRU outlined the decision that conventional generating units with nameplate capacity of 50 MW or above be subjected to additional financial reporting obligations. Each such generating unit will self-certify their compliance with the grid code, in particular PC.4.5 relating to the requirement for a three-year closure notice, based on their own assessment over a five-year forecasting period.
The objective of introducing additional financial reporting requirements for generators is to identify potential vulnerabilities which could impact the market and pose a risk to local security of supply, specifically a potential disorderly exit.
As noted in its paper ‘Dublin Security of Supply: Measures to mitigate the risk of disorderly exit’ (CRU/18/228), the CRU committed to consult on measures requiring generators to demonstrate and report on an annual basis, that they are in a position to fulfil their Grid Code obligations, in particular the three-year closure notice period.