Retailers told to submit more detail on primary charge deferral applications
MOSL and Ofwat have told retailers to submit by the close of today (15 June) full supporting evidence for any claims submitted for primary charge deferral in May, under code change CPW096.
The authorities said retailers has submitted evidence of cash held in their monthly financial reports but that “the majority” lacked the two other required pieces of information: “total facilities, i.e. borrowing available to the contracting retailer, headroom, including access to government support or an explanation;” and “supporting evidence of how this conclusion was reached, as to why access to other forms of borrowing is not available.”
MOSL and Ofwat added this information will be needed on an ongoing basis while primary charge deferral arrangements are in place.