Ofgem looks to raise price cap allowance for wholesale risk

Ofgem has proposed to raise the allowance for wholesale risks within the methodology for setting the price cap on default tariffs and modify license conditions to allow it to make in-period adjustments. The regulator outlined the proposals in a series of five consultations released on Friday (19 November), which also covered the true-up process for costs related to the coronavirus pandemic. It said details of a wider review of the price cap methodology will be released in the coming weeks.

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