Publication of notice of an Income Adjusting Event from Gwynt y Môr OFTO plc
Correspondence and other
- Publication date
- Company
- Gwynt y Môr OFTO plc
- Industry sector
- Offshore Transmission Network
- Licence type
- Electricity Offshore Transmission Licence
- Decision
On 18 June 2021, the Authority received a notice (the Notice) from Gwynt y Môr OFTO plc (the Licensee) in respect of an event which the licensee considers to be an Income Adjusting Event (IAE).
The Licensee provided the Notice to the Authority pursuant to paragraph 14 of the Amended Standard Condition E12-J3 (Restriction of Transmission Revenue: Allowed Pass-through Items) of its Licence (the Condition), in respect of an increase in costs and/or expenses incurred by the Licensee which it considers were caused by an IAE.
Paragraph 19 of the Condition requires the Authority to publish the Notice, excluding any confidential information, following its receipt. A redacted version of the notice is published today.
We are currently considering further information provided by the Licensee to enable us to assess whether an IAE has occurred and, if so, the amount of any adjustment that might be approved.