Statement in relation to a proposed Income Adjusting Event under National Grid Companys 2003/04 System Operator incentive scheme

On 7 April 2004, National Grid Transco (NGT) submitted to the Authority notice of a proposed Income Adjusting Event (IAE) within the framework of National Grid Companys (NGC) 2003/04 System Operator (SO) incentive scheme. This information note is intended to highlight the existence of the proposed IAE to interested parties and to outline the process which Ofgem intends to adopt to handle the proposed IAE.