End of LIBOR
Dear Market Participant,
The current daily interest rate used by SEMO, LIBOR (London Interbank Offered Rate), expired on the 31/12/2021 and is no longer available as an interest rate used by SEMO. Alternatives to LIBOR are under review by SEMO and a further update will be provided on tomorrows market participant call and following that with further market messages as to the proposed alternative to be used.
The LIBOR rate of the 31/12/2021, being the latest available rate, was used for MO invoice publications on the 11/01/2022. In the meantime the TSC requires to use the latest LIBOR rate published, therefore a flat rate as published on the 31st Dec will apply until the new rates could be in place.
If you have any questions on this update, please do not hesitate to contact us at firstname.lastname@example.org