BOE publishes details on energy markets financing scheme

The Bank of England (BOE) published a market notice on Monday, setting out how energy firms and their commercial lenders can apply to participate in the energy markets financing scheme (EMFS).

Additional takeaways

Energy markets financing scheme is open to applications from today.

The scheme will be open to applications from 17 October 2022 until noon on 27 January 2023.

Three fees payable by energy firms for participation in the EMFS.

From Dec 31 names of energy firms who have or have had an additional tranche of a credit facility guaranteed by the bank may be published.

Market reaction

At the time of writing, GBP/USD is heading back towards 1.1300, awaiting UK Chancellor Jeremy Hunt’s statement on fiscal policy U-turn.