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Awarded

Levelisation Audit Support

Published

Supplier(s)

FORVIS MAZARS LLP

Value

50,000 GBP

Description

The Standing Charge Levelisation process is designed to equalise the cost of energy standing charges between prepayment and non-prepayment customers, via a Levelisation Allowance in the Price Cap. It is supported by a supplier reconciliation by difference mechanism to support suppliers' ability to recover efficient costs. Calculations involving the Price Cap are performed by Ofgem. The Retail Energy Code Company (RECCo) are responsible for reconciliation related calculations. Both RECCo and Ofgem have developed jointly owned systems and processes that manage the timing and responsibility for undertaking these calculations. Levelisation has been classed as imputed tax and spend, and the financial flows will be recorded in Ofgem's accounts. Support is therefore required from a supplier to carry out an agreed upon procedures review of Levelisation.

Timeline

Award date

2 months ago

Publish date

a month ago

Buyer information

Office of Gas and Electricity Markets (Ofgem)

Contact:
Lynsey Gordon
Email:
procurement2@ofgem.gov.uk

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Notice topics

Auditing servicesInternal audit servicesStatutory audit services

Related topics

Accounting review servicesFraud audit servicesStatutory audit servicesInternal audit servicesFinancial auditing servicesAuditing services

Source

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