Decision on the consultation on allocation of future voluntary redress payments in the context of Enforcement cases
Decision
- Publication date
Our summer 2016 consultation on the allocation of voluntary redress in the context of Enforcement cases stated our ambition to improve the allocation process to maximise the benefits for Great Britain’s energy consumers.
Following consideration of responses to the consultation and wider stakeholder engagement, this letter sets out our decision to engage an expert third party organisation to allocate, manage and monitor voluntary redress payments.
This will make sure that funding is well targeted, and is the best way to maximise the long-term positive impact of voluntary redress payments for energy consumers across Great Britain, and in particular those in vulnerable circumstances.
Update – 15 June 2017
We are issuing an update to our decision letter (letter of 30 November 2016 - see link below) with regard to Local Authority access to voluntary redress funds.
At the meeting of the Gas and Electricity Markets Authority (GEMA) of 10 November 2016, it was agreed that voluntary redress funds could be allocated to charitable organisations working in partnership with Local Authorities, rather than directly to Local Authorities. Further detail of the decision can be found in the minutes of this meeting (paragraphs 17-21).