Statutory consultation on final proposals for DCC penalty interest rate

Publication date
6th April 2016
Closing date
5th May 2016
Policy areas
Status

This statutory consultation:

  • Summarises responses to our statutory consultation published on 17 December 2015 with respect to our proposed licence drafting changes to amend the definition of regulated revenue and to introduce a penalty interest rate for over-recovery of revenue in DCC’s licence.
  • Clarifies the intended effect and timing of implementation of our penalty interest rate proposals following requests for clarification from consultation respondents.
  • Seeks views on our revised proposed licence modifications to bring into effect our proposals, following drafting comments from consultation respondents.

Our revised licence drafting proposals are set out in the notice of proposed licence modifications annexed to this letter.

Next steps

This consultation closes on 5 May 2016. Responses should be sent to Laura Nell, Head of Smarter Metering, Office of Gas and Electricity Markets, 9 Millbank, London, SW1P 3GE or by email to smartermarkets@ofgem.gov.uk. Responses will be published on our website unless marked as confidential.

We will consider responses in making our final decision which we aim to publish in June 2016.