Levelisation Audit Support

Award

Buyers

OFGEM

Value

£50,000

Suppliers

FORVIS MAZARS LLP

Classifications

Auditing services

Tags

award

Submission Deadline

1 year ago

Published

4 months ago

Description

The Standing Charge Levelisation process is designed to equalise the cost of energy standing charges between prepayment and non-prepayment customers, via a Levelisation Allowance in the Price Cap. It is supported by a supplier reconciliation by difference mechanism to support suppliers' ability to recover efficient costs.
Calculations involving the Price Cap are performed by Ofgem. The Retail Energy Code Company (RECCo) are responsible for reconciliation related calculations. Both RECCo and Ofgem have developed jointly owned systems and processes that manage the timing and responsibility for undertaking these calculations.
Levelisation has been classed as imputed tax and spend, and the financial flows will be recorded in Ofgem's accounts. Support is therefore required from a supplier to carry out an agreed upon procedures review of Levelisation.

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Contract Agreement

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Organisation

OFGEM

Body governed by public law

Lynsey Gordon

[email protected]

+44 2079017000

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