Transcription of Default tariff cap update from 1 October 2021
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Default tariff cap update from 1 October 2021
The Office of Gas and Electricity Markets 10 South Colonnade, Canary Wharf, London, E14 4PU Tel 020 7901 7000 Dear colleagues, Default tariff cap update from 1 October 2021 Today we have published the updated cap levels for the seventh charge restriction period ( the seventh cap period ), covering the six months from 1 October 2021 to 31 March 2022. Alongside the cap levels we have also published the updated versions of the cost allowance models / annexes. Drivers of change The level of the cap12 for the seventh period (1 October 2021 to 31 March 2022) has increased by 12% since the last update . From 1 October 2021, the level of the cap will increase to 1, ,4 The main drivers for this change are due to updates in the model inputs for: Wholesale costs These have increased by 155 since the last update . A combination of lower supply of gas imports due to global recovery, especially increased demand from Asia and protracted cold spells over last winter and into spring, have led to lower-than-normal amounts of gas left in storage across Europe.
Default tariff cap update from 1 October 2021 Today we have published the updated cap levels for the seventh charge restriction period (i.e. the seventh ‘cap period’), covering the six months from 1 October 2021 to 31 March 2022. Alongside the cap levels we have also published the updated versions of the cost allowance models / annexes.
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