SEC Draft Budget
The SEC Panel Draft Budget is currently out for consultation with Parties. The Draft Budget sets out the Panel’s good-faith estimate of the Recoverable Costs that it anticipates will be incurred during the Regulatory Years 2017 – 2020.
A letter inviting interested parties to comment and the Draft Budget can be found here:
Draft Budget Consultation Letter
SEC Draft Budget 2017 - 2020
If you would like to provide any comments on the consultation, please do so by emailing the SECAS helpdesk. The deadline for all responses is 5pm Tuesday 14th February 2017.
A teleconference has been scheduled for 3pm on Tuesday 7th February 2017 to provide an opportunity for Parties to ask any questions in advance of the consultation deadline. If you are interested in joining the teleconference, please contact the SECAS helpdesk who will confirm your attendance and provide you with the joining details.
SEC version 5.3 designated - 26th January 2017
SEC version 5.3 was designated on 26th January 2017, introducing amendments consulted on in September 2016.
The designated changes to SEC Section N enable the government to direct the DCC to undertake further analysis on SMETS1 meter enrolment with DCC systems in relation to the Initial Enrolment and Adoption Feasibility Report (IEPFR), should it be necessary.
The amendments also require Supplier Parties to comply with any reasonable requests for information made by the DCC to support its analysis. Non-provision of the information would result in the exclusion of that Supplier’s SMETS1 meters from the DCC’s further analysis, unless government directs otherwise.
These amendments resulted in the designation of a new SEC Section N4A: Further Initial Enrolment Analysis’.
More information can be found in the Latest News.
On 26th January 2017, the Authority (BEIS) approved SECMP0016 ‘Consideration of “Maximum Credit value in credit cover calculation’. This followed the Change Board vote for recommendation in December 2016
SECMP0016 changes the SEC Credit Cover Requirement calculation so that it takes into account the credit value specified by an independent credit assessor, similar to the approach taken for the Uniform Network Code. The proposed calculation introduces an Unsecured Credit Factor, in place of the current Credit Cover Factor, that is a proportion of a party’s Maximum Credit Value. The Unsecured Credit Factor is determined by the Party’s Recognised Credit Rating or Credit Assessment Score.
The modification has an implementation date of 1st April 2017.