Regulation 21A Indexation of prescribed caps and prescribed sumsF1

(1)

The prescribed sums for each financial year beginning with 1 April 2024 are calculated by—

(a)

adjusting the sums specified in columns 3 and 4 of Part 1 of Schedule 2 by the percentage increase or decrease in the CPIH index published for the month of January preceding the financial year for which the adjustment is made in comparison to the CPIH index published for the month of January 2023; and

(b)

rounding the resulting figure to the nearest £5.

(2)

In the calculation of prescribed caps for each financial year beginning with 1 April 2024, the sums in column 2 of Part 1A of Schedule 2 are adjusted by—

(a)

the percentage increase or decrease in the CPIH index published for the month of January preceding the financial year for which the adjustment is made in comparison to the CPIH index published for the month of January 2023; and

(b)

rounding the resulting figure to the nearest £5.

(3)

In this regulation, “CPIH index” means the consumer prices index including owner occupiers’ housing costs (all items) published by the Office for National Statistics.

Annotations

Textual amendments

F1: Reg. 21A inserted (1.9.2023) by The Electricity (Standards of Performance) (Amendment) Regulations 2023 (S.I. 2023/887), regs. 1(3), 2(8)