Low Carbon Contracts Company posted a job you might be interested in September 19, 2014 at 03:38PM

Low Carbon Contracts Company



External Reporting Manager

London, United Kingdom, GB - Accounting

The Low Carbon Contracts Company will play a key role in the delivery of Electricity Market Reform, the biggest change to the electricity market since privatisation. The sister company the Electricity Settlements Company Limited will also play a critical role in market reform through the provision of capacity payments to generators.

Low Carbon Contracts Company will manage the Contracts for Difference, introduced to support new investment in all forms of low-carbon generation. CFDs are long term contracts which will support low-carbon generation by giving ensuring that eligible generators receive a fixed price for the low carbon electricity they produce and sell to the market, thereby increasing their price certainty. Eligible generators selling their electricity into the market as usual will receive an additional top-up to a pre agreed 'strike price'. If the market price is over the strike price then the generator must pay back the difference. This will replace the existing support mechanism for large-scale renewable generation, the Renewables Obligation, which will close on 1 April 2017.



This is a key role reporting to the Financial Controller. The successful candidate will be responsible for establishing reporting processes to ensure that the organisation meets all of their statutory obligations in line with IFRS, establishing reporting to DECC and ensuring compliance with all relevant financial regulations under the Energy Act 2013 for both the LCCC and the ESC. The focus of the position will be to create compliance focussed business processes, develop and implement robust accounting policies, develop and produce statutory financial statements and manage the interim and year-end and audit process. The role will also include cash and working capital management where the development of robust cash flow models will be essential and the development of tax compliant policies and processes. You will be a key contact for external advisers and auditors.



You will be a fully qualified accountant with strong technical knowledge of routine and statutory reporting. Ideally you will also have tax and treasury experience. Given that this is a new organisation it will be beneficial if you have worked in an environment where you have been required to set up systems and continually improve them. You must have strong attention to detail, a detailed knowledge of IFRS and the ability to manage multiple stakeholders. Knowledge of the utilities sector would be beneficial but not essential. You must be prepared to work within the Finance team to provide advice on relevant accounting treatments as well as liaise with the National Audit Office and work closely with DECC (Department of Energy and Climate Change) to ensure policies are compliant with the financial requirements of these bodies.

No salary provided



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