Proposal to put tighter cap on balancing costs fast-tracked by regulator

Ofgem has approved a request by British Gas to grant urgent status to its proposal to put a tighter cap only balancing costs than the one already approved by the regulator as part of its response to the coronavirus pandemic. The regulator stated that although the existing gap has gone “some way” towards mitigating a surge in balancing costs, it also accepts that market participants “remain exposed to a general uplift”.

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