Licence fee cost recovery principles
Decision
Publication date
Under the Standard Licence Condition (SLC) entitled 'Payments by Licensee to the Authority' (SLC 3 in gas transportation licences and SLC 4 in electricity transmission licences and SLC 3 in electricity distribution licences), the amount to be paid annually by the licensee is a 'relevant proportion' of the amounts specified in paragraphs 2 (a) - 2 (d) and an adjustment by reference to the actual costs of the previous year in paragraph 2(e).