The Regulatory Authorities are today, 23 August 2024, publishing an Information Paper detailing the revenue allowance for SEMO for the 2024/25 tariff year.
SEMO’s revenue requirement for 2024/25 consists of two components:
• 2024/25 revenue requirement; and
• 2022/23 K-factor which returns an over-recovery of revenue in 2023/23 to consumers.
A statement of charges based on this revenue requirement is expected to be published by SEMO in the near future.
The revenue requirement for 2024/25 is an estimated value in advance of a decision on the new Price Control which will cover the period 01 October 2024 to 30 September 2029. The revenue requirement will be updated once the price control has been determined and any correction made through the 2024/25 K-Factor as part of the 2026/27 revenue requirement.