Price Cap - Disclosure arrangements for Autumn 2022 COVID-19 true-up consultation
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Publication date
Industry sector
Supply and Retail Market
This notice outlines the disclosure arrangements for the Autumn 2022 COVID-19 True-up consultation.
Price Cap – Disclosure arrangements for the Autumn 2022 COVID-19 true-up Consultation
In May 2022 we published a consultation on the True-up process for COVID-19 related costs which was accompanied by a disclosure process. Earlier this month we published a letter which set out that we had decided to delay the COVID-19 True-up decision until February 2023 and that we would be issuing a consultation in autumn 2022, to consult on our methodology after we received feedback from stakeholders proposing an alternative methodology to calculate the COVID-19 True-up allowance. Given that our proposals relied on detailed modelling and analysis, we disclosed the key Model and Data that underpinned our proposals alongside the consultation via a Confidentiality Ring, in order for stakeholders to fully understand them (the “Spring 2022 disclosure arrangements”).
In our August 2022 letter titled ‘notice to delay COVID-19 true-up decision and work on debt-related costs’ we outlined that we would be issuing a consultation in the autumn, to consult with stakeholders on our methodology and gather feedback which will help inform our decision in February 2023 on the True-up process for COVID-19 costs.
Further to this, we are offering an extension to the Confidentiality Ring for the Spring 2022 disclosure arrangements, so that the disclosed Model and Data may be used to review the Autumn 2022 consultation and subsequent decisions.
If you are already participating in our Spring 2022 disclosure arrangements, then please see the ‘Information for stakeholders already participating in the Spring 2022 disclosure arrangements’ document attached to this page. We will also contact you directly in due course.
If you are not already in participating in our disclosure arrangements but are interested or would like to find out more, please see the ‘Information for stakeholders not currently in the disclosure arrangements’ document attached to this page. Guidance is enclosed on our requirements, so should you choose, you will be able to enrol now on the same terms as the Spring 2022 disclosure arrangements.
If you have any questions that are not answered by the enclosed documents, then please contact retailpriceregulation@ofgem.gov.uk