Periodic Levelisation
Periodic Levelisation takes place at the beginning of each quarter, looking back at the previous quarter. FIT Years run from April- March, so for the first quarter from April- June you would make a submission for this period in July.
Annual Levelisation
The Annual Levelisation process occurs at the end of a FIT Year and is a two-month process from August, with Ofgem having a statutory duty to complete this by 1 October each year. The purpose of it is to reconcile the 4 quarters of the previous FIT Year, and includes additional steps, such as the recognition of exempt supply evidence (i.e. GoO certificates). FIT licensees are also required to carry out and submit a bespoke levelisation audit report.
The schedule for the levelisation process is determined and published before the beginning of each FIT year, no later than 1 March. Please refer to the levelisation schedules found in the publications and updates section of the electricity suppliers page for the dates and deadlines involved in the process.