Operations Other

Ofgem published its final decision on the Post Construction Review of IFA2, determining the Post Construction Adjustment (PCA) terms and final cap and floor levels and confirming that decommissioning costs had been assessed as part of the PCR. The decision also confirmed that the cap and floor regime allows a discretionary revision — no less than ten years from the start of the regime — to re-assess and, if required, make multiple revisions to decommissioning cost allowances. The publication therefore formalised the project's decommissioning cost allowance and the timetable/method for future reassessments.