Market Stabilisation Charge

MSC Invoice Adjustment for MSC Rate Revision

Home » Services » Market Stabilisation Charge » MSC Invoice Adjustment for MSC Rate Revision

Following Ofgem’s recent review of its internal calculation of MSC charge rates and the identification of a modelling miscalculation, they have confirmed that the MSC rates for gas published on their website between 11 April 2023 and 22 May 2023 are incorrect. Ofgem has updated the MSC dashboard to display the corrected rates for this period. They have also published the original rates used for comparison purposes.

The time period in question relates to MSC weeks 53 to 59 inclusive with week’s 53-56 forming the basis of our MSC Invoicing Period 14. The invoices for that period were raised and issued to Suppliers on 25 May 2023 and are due for payment by 09 June 2023. Weeks 57-59 inclusive will form part of  MSC Invoicing Period 15. The invoices for P15 will utilise the new rates published by Ofgem for the relevant weeks.

RECCo will now need to carry out a reconciliation process for Invoice Period 14 using the new rates published by Ofgem for weeks 53-56. We will recalculate Supplier positions for those periods and establish if any adjustment is required. Our objective is to rectify the impact of the miscalculated MSC rate for those weeks as soon as possible and we are aiming to include any adjustment due in the Period 15 invoices. However, we are yet to quantify the complexity and scale of the adjustment required and this may delay the adjustment until Period 16. Once the reconciliation is complete any adjustments will be detailed as a separate line item in your invoice or credit advice.

If you have any questions relating to the published MSC rates, please contact Ofgem at retailpolicyinterventions@ofgem.gov.uk. For queries on the calculation of your invoice, please email MSCenquiries@recmanager.co.uk.

 

Share this post

Latest News

Scroll to Top