Feed-in Tariff - 1 July 2013 changes
Correspondence and other
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- FIT
Ofgem published two Open Letters in relation to the final changes of the FIT Comprehensive Review on Monday 24 June 2013.
Amendments to the FIT legislation, which came into effect on 1 July2013, will provide for a number of supplier facing provisions to come into force. These include allowing FIT Generators to continue to receive FIT payments in the event that a FIT Licensee has its license to supply electricity revoked or suffers insolvency. The new legislation also introduces the mutualisation process in case there is a shortfall in the periodic levelisation fund.
In order to facilitate the continuity of payments process, the Statement of FIT Terms agreement that all FIT Generators sign with their FIT Licensee has been updated. This will require records to be kept of all payments received and meter readings taken. These records must be maintained for a period of one year, commencing with the date on which a meter reading is taken by or supplied to a FIT Licensee, or the date on which a FIT payment is received by a FIT Generator.
We are seeking feedback on one of the Open Letters, entitled Open Letter - Feed-in Tariff (FIT): Guidance for Licensed Electricity Suppliers – Changes to Guidance. We invite feedback on this document and its appendices by 19 August 2013.