In accordance with SC 8.1 of the Electricity Transmission and Gas Transporter Licence, we are consulting on the following proposed modification to the GT2, ET2 and GD2 Price Control Financial Instruments:
It is our view that changing these cells from general input cells to PCFM Variable Values does not constitute a significant modification under SC 8.1 as this modification serves to correct a manifest error in the PCFM. Our policy is to allow licensees to forecast re-opener allowances in RIIO-2, however the absence of allocation rates for some of these re-openers means that any forecasts input into the PCFM would not feed through to Allowed Revenue.
Making these allocation rates PCFM Variable Values would enable licensees to update these rates through the Annual Iteration Process and is in line with our policy.
Please respond to this proposed modification no later than 28 August 2021. We intend for this modification to be included within the Annual Iteration Process, due to conclude on 30 November 2021.