P345 – Reducing the CAP change notice period and improving its flexibility
Formal title: Reducing the CAP change notice period and improving its flexibility
Current Status
Summary
Following discussions by the Credit Committee and the BSC Panel, P345 seeks to reduce the notice period for changes to the Credit Assessment Price (CAP) from 20 Business Days to 15 Business Days and enable the notice period to be changed in future without a Modification, as long as it remains above a minimum value set out in the BSC and the change is consulted upon.
Progression
SSE plc raised P345 on 2 June 2016. The Panel considered the P345 Initial Written Assessment on 9 June and agreed to progress P345 directly to the Report Phase with an initial recommendation that it be approved as a Self Governance Modification. The P345 Report Phase Consultation was issued on 13 June 2016 with responses due by 1 July. The Panel approved P345 under Self-Governance at its meeting on 14 July 2016. P345 was implemented on 19 August 2016.