What EMR Settlement does

EMR Settlement Limited (EMRS) is the mandated Settlement Services Provider for three UK government low-carbon electricity schemes — Contracts for Difference (CfD), the Capacity Market (CM) and the Nuclear Regulated Asset Base (Nuclear RAB). Established in 2014 as part of the UK's Electricity Market Reform, the company operates as a wholly owned subsidiary of Elexon Limited and delivers settlement under contractual mandates from the Low Carbon Contracts Company (LCCC) and the Electricity Settlements Company (ESC). All UK licensed electricity Suppliers are legally required to register with EMRS to make statutory levy payments and lodge Credit Cover; CfD Generators and Capacity Providers must register to receive difference payments and capacity payments respectively.

The company's core platform is the EMR Settlement System, which collects metered data, calculates and settles daily and quarterly payments, manages invoicing, credit cover, and reconciliation across the three schemes. Data flows integrate with Elexon's Balancing and Settlement Code infrastructure via standardised DTC/DTN file formats (including D0362–D0366 series), and participants interact through the My EMRS digital self-service portal for registration, metering compliance, settlement data access, and Credit Cover lodgement. A new Head End System (HES) implemented by ESC in October 2025 expanded metered-data collection pathways for Capacity Providers. EMRS holds ISO 27001 and SOC 2 Type 2 certifications and publishes Working Practices, Guidance documents, Interface Definitions, and Key Payment Figures to support participants.

EMRS does not charge customers directly; its funding comes from two statutory levies on UK licensed electricity Suppliers — the Operational Costs Levy and the Settlement Costs Levy — administered through LCCC and ESC and consulted on by DESNZ typically every three years. The 11–50 person London-based organisation operates under a regulated-mandate go-to-market with no commercial sales motion, leaning instead on the My EMRS portal, Service Desk, webinars, and stakeholder events to drive participant compliance. Recent strategic activity has focused on expanding the in-scope reporting duties (Credit Cover Registers, SPD/EP Pass Reports) and My EMRS user experience enhancements rather than new market entry.

Name

EMR Settlement

Legal name

EMR Settlement Limited

Website

https://emrsettlement.co.uk

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

11–50 employees

Short description

EMR Settlement Limited is the UK government-mandated Settlement Services Provider for the Contracts for Difference, Capacity Market, and Nuclear RAB schemes, processing payments, credit cover, and metered data on behalf of LCCC and ESC for UK electricity Suppliers, CfD Generators, and Capacity Providers.

Ownership category

akta.pro rank

Product category

Energy Market Settlement Services

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

akta.pro primary industry

Cash Settlement & DvP/PvP Settlement Agent Services (CSD-Integrated) (FSAFAGAK)

akta.pro secondary industry

Financial Transmission Rights (FTR) Trading (EUAGALAA)

Keywords

• Energy market settlement
• Contracts for difference
• Capacity market settlement
• Nuclear RAB settlement
• Electricity supplier levies

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Operational Costs Levy: EMRS is funded through levies recovered from electricity Suppliers, specifically an Operational Costs Levy and a Settlement Costs Levy. These are statutory levies on all UK-based licensed electricity suppliers, administered by LCCC and ESC respectively. EMRS operational costs are included as part of the total operational costs for LCCC and ESC. The levies are determined through government consultation, typically every three years.
2. Settlement Costs Levy: Additional statutory levy on UK licensed electricity suppliers to fund settlement body operating costs. Both Operational Costs Levy and Settlement Costs Levy form part of supplier charges recovered through the EMR settlement system.

Go-to-market motion2 records

Distribution channels1 record

Marketing channels6 records

Core offering

EMR Settlement Limited (EMRS) delivers the role of EMR Settlement Services Provider on behalf of LCCC and ESC, performing settlement of payments, calculation and collection of Supplier Obligation levies, credit cover management, invoicing, and reconciliation for the UK's Contracts for Difference (CfD), Capacity Market (CM) and Nuclear Regulated Asset Base (Nuclear RAB) schemes. All UK licensed electricity Suppliers are required to register with EMRS to make statutory levy payments, and CfD Generators and Capacity Providers must register and submit metered data to receive scheme payments via the My EMRS portal.

Product overview

EMR Settlement Limited operates a unified settlement services platform delivering CfD, Capacity Market (CM), and Nuclear RAB settlement services on behalf of the Low Carbon Contracts Company (LCCC) and Electricity Settlements Company (ESC). The core platform is accessed through the My EMRS digital portal, which provides stakeholders (Suppliers, CfD Generators, and Capacity Providers) with access to registration, metering processes, settlement data, invoices, credit notes, and backing data. Supporting sub-products include Working Practices documentation (detailing process timelines and interactions), Guidance documents (G-series for scheme requirements), Interface Definitions (technical file format specifications), and Settlement Data Services (Key Payment Figures and scheme dashboards). The three main settlement modules are: Capacity Market Settlement (managing CM payments and metering), Contracts for Difference Settlement (running the CfD System and managing difference payments), and Nuclear RAB Settlement (revenue collection mechanics for electricity Suppliers). Additional services include the EMR Service Desk (Atlassian-based) and EMR Webinars for stakeholder training.

Differentiator

Problem solved

Functional benefit

Products and services

• EMR Settlement Services Platform Comprehensive settlement services platform delivering payment calculations, collections, invoicing and reconciliation for CfD, Capacity Market and Nuclear RAB schemes on behalf of LCCC and ESC.
• My EMRS Portal Digital self-service portal for Capacity Providers, CfD Generators and Suppliers providing secure access to settlement files, invoices, credit notes, notices, backing data, metering processes and party data management.
• Capacity Market Settlement Settlement services for the Capacity Market scheme including collecting metering data, managing payments between Capacity Providers and Suppliers, calculating payments and charges, and invoicing.
• Contracts for Difference Settlement Settlement services for the CfD scheme including running the CfD System, managing payments, holding reserve funds, and maintaining systems for collection and transmission of settlement data.
• Nuclear RAB Settlement Settlement services for Nuclear Regulated Asset Base revenue collection including maintaining settlement systems, calculating and invoicing payments, managing credit cover for electricity Suppliers.
• Settlement Data Services Settlement data access for Suppliers, Capacity Providers and CfD Generators including Key Payment Figures, ILR rates, Total Reserve Amounts, CfD Scheme Dashboards and CM Scheme Dashboards.

Quantifiable outcome

• Q4 2026 CfD Interim Levy Rate set at £8.176/MWh; Total Reserve Amount £425,760,925.05 (LCCC confirmed 16 June 2026)

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature4 records

Partnerships

Nine partnerships are on record, tiered supporting and core.

• Electricity Settlements Company (ESC) - Head End System (HES)supportingTechnology or Integration · 1 January 2025ESC developed a new Head End System (HES) implemented in October 2025 to support the collection and submission of metered data on behalf of Capacity Providers. EMRS receives data from ESC via this system.
• Elexon Limited (Parent Company)coreStrategic or Co-development Partner · 1 January 2014EMRS is a wholly owned subsidiary of Elexon Limited. Under a managed services agreement, EMRS accesses Elexon's metered data and settlement infrastructure (Balancing and Settlement Code systems) required to perform CfD, CM and Nuclear RAB settlement activities. Elexon provides operational technology, data management and governance expertise.
• Low Carbon Contracts Company (LCCC)coreStrategic or Co-development PartnerLCCC is the CfD Counterparty and Revenue Collection Counterparty for Nuclear RAB. It has appointed EMRS as the EMR Settlement Services Provider for CfD and Nuclear RAB schemes. LCCC manages CfD contracts, determines Interim Levy Rates and Total Reserve Amounts, and oversees the Supplier Obligation levy.
• Electricity Settlements Company (ESC)coreStrategic or Co-development PartnerESC is the CM Settlement Body and has appointed EMRS as the EMR Settlement Services Provider for the Capacity Market. ESC is responsible for managing CM payments to Capacity Providers, holding Credit Cover, and conducting metering assurance. EMRS manages settlement of these payments on ESC's behalf.
• National Energy System Operator (NESO)supportingStrategic or Co-development PartnerNESO (formerly National Grid ESO) acts as EMR Delivery Body, administering Capacity Market registration, prequalification, auction and agreement management, and CfD application and qualification. EMRS coordinates with NESO for metering data, CMVRN validation, and Satisfactory Performance assessments.
• Department for Energy Security & Net Zero (DESNZ)supportingStrategic or Co-development PartnerDESNZ sets the policy framework for EMR schemes, provides sponsorship and leads on design and legislative action. DESNZ consults on and approves the Operational Costs Levy and Settlement Costs Levy that fund EMRS's operations.
• OfgemsupportingStrategic or Co-development PartnerOfgem manages changes to the Capacity Market Rules and handles certain disputes between NESO and CM/CfD participants. EMRS operates within the regulatory framework established and overseen by Ofgem.
• Capacity Market Advisory Group (CMAG)supportingStrategic or Co-development PartnerCMAG is responsible for managing changes to the Capacity Market Rules. EMRS has a representative attending CMAG to ensure customer interests are effectively voiced and considered in rule changes.
• Balancing and Settlement Code Company (BSCCo / Elexon)coreTechnology or IntegrationBSCCo (operating as Elexon) manages the Balancing and Settlement Code governing UK electricity settlement. EMRS accesses BSC metered data through Elexon to support settlement for CfD, CM and Nuclear RAB schemes.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• EPEX SPOT: European power exchange for spot electricity trading in UK, France, Germany, Netherlands, Belgium, Austria and Switzerland, with integrated clearing and settlement. Comparable as a regulated market operator handling settlement of energy transactions across multiple European jurisdictions.
• European Energy Exchange (EEX): Germany-based leading energy exchange operating power, gas and emissions spot and derivatives markets with associated clearing house (ECC). Comparable in running clearable, settlement-enabled energy market infrastructure operating under EU REMIT/MiFID-style regulation.
• Nord Pool: Europe's leading power exchange providing day-ahead and intraday auctions across Nordic, Baltic and several Western European markets, with associated clearing and settlement of energy and capacity trades. Comparable as a regulated energy market infrastructure operator running settlement flows between counterparties.
• Elexon Limited: EMRS's parent company and the UK's Balancing and Settlement Code (BSC) administrator. Elexon runs the broader settlement infrastructure for the UK wholesale electricity market, providing the metered data, governance and operational backbone that EMRS depends on for CfD, CM and Nuclear RAB settlement. Highly comparable as the parent of an adjacent settlement ecosystem.

Regional players

• SEMOpx: Operator of the Single Electricity Market across the island of Ireland (I-SEM), providing spot and forwards markets with associated settlement infrastructure. Comparable as a regulated regional settlement infrastructure for the all-island power market, conceptually similar to UK schemes EMRS settles.

Others

• Electricity Settlements Company (ESC): UK government-owned CM Settlement Body that has appointed EMRS as Settlement Services Provider for the Capacity Market. Sister counterpart to LCCC and a core partner (not a competitor) — operates the CM scheme framework that EMRS settles.
• Low Carbon Contracts Company (LCCC): UK government-owned counterparty for Contracts for Difference and Nuclear RAB schemes. LCCC is EMRS's principal contractual principal and counterpart — closely linked but not a competitor; LCCC outsources settlement administration to EMRS.

Direct peers

• Retail Energy Code Company (RECCo): Statutory body that maintains and enforces the Retail Energy Code governing relationships between electricity/gas suppliers, distributors and shippers in Great Britain. Analogous to EMRS as an industry-funded, mandate-driven body operating at the intersection of energy retail settlement and code administration.
• Xoserve: UK's central gas settlement agent performing the same role for the gas market that EMRS performs for the electricity market: mandated settlement, invoicing, credit cover, and data exchange with suppliers under regulated industry codes (IGT and UNC). Functionally the closest direct analogue to EMRS.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubevimeo.com/user225677431
• LinkedInlinkedin.com/company/emr-settlement-ltd

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about EMR Settlement