P446 Urgent Modification Consultation
This Modification seeks to enable Elexon (BSCCo) to implement and administer the payment scheme for Suppliers as part of the Government’s Energy Price Guarantee (EPG) scheme for domestic electricity customers. The intention of the subsidy would be to reduce consumer tariffs in light of the recent rises in energy costs.
Status
What is proposed?
European energy prices have increased dramatically, following the ending of lockdown and the gas crisis initiated by Russia’s invasion of Ukraine. Further rises are expected in the future and, as we approach winter, there are concerns over the wellbeing of those who may not be able to afford energy costs. As a result of these concerns the Government has proposed the EPG Scheme for domestic customers, to secure reductions in the electricity bills of domestic consumers in Great Britain. The intention is for Elexon to act as the EPG Scheme Administrator.