The CMA has published a summary of its final determination (FD) in the Energy Licence Modification Appeals 2021.
The CMA's Appeal Group, of which David Thomas was a member, has found in favour of Ofgem on most grounds and, in particular, upheld Ofgem's decision to reduce future returns allowed to investors.
The CMA has, however, determined that Ofgem was wrong in some areas of its decisions. It found that Ofgem did not provide sufficient evidence to justify the introduction of two new adjustments that reduced the amounts that the appellants can charge their customers.
The full decision can be seen in the link.
