Ofwat minded to accept Market Performance Framework code changes

Ofwat is minded to approve a third round of code changes to reform the Market Performance Framework (MPF).

It is undertaking a statutory consultation until 7 October on adopting changes CPM058c and CPW149c, which have been recommended by the Code Change Committee, to reform meter read performance for cyclical and transfer reads.

The MPF is the set of standards and incentives that encourage wholesalers and retailers to provide services that best support efficient market functioning and customer outcomes. CPM058c and CPW149c concern retailer and wholesaler standards for obtaining and submitting meter reads and transfer reads, including new standards and charges for failing to meet the standards that are proposed.

The plan is to implement the changes on 1 December.