The Code Governance Review (CGR) Final Proposals and the subsequent licence changes introduced a new regulatory mechanism within the industry codes. The Significant Code Review (SCR) mechanism is designed to facilitate complex and significant changes to these codes. It provides a role for Ofgem to undertake a review of a code-based issue and play a leading role in facilitating code changes through a review process.
The Gas Security of Supply SCR was launched on 11 January and focuses on measures to enhance security of gas supply.
Our key objectives for this Gas SCR are to
- minimise the likelihood of a Gas Deficit Emergency occurring by encouraging gas shippers and suppliers to take out sufficient investment to ensure gas security of supply
- minimise the severity and duration of a Gas Deficit Emergency, if one ever occurred, by sharpening incentives to attract gas into Great Britain
- compensate firm consumers if they are ever interrupted due to a Gas Deficit Emergency.