On 23 April 2014, following a review of the Retail Gas Contracts Oversight Scheme, Gas Industry Co wrote to the Minister advising on the continuation of the Scheme, with the following amendments:
- Retail gas contracts will no longer be reviewed on an annual basis, instead they will be reviewed on a 3 yearly basis (with a scope to review contracts for new entrant retailers, or amended contracts on an 'as required' basis).
- Gas Industry Co will make some amendments to the benchmarks which will improve the Scheme.
The Minister replied to Gas Industry CO's letter on 14 May 2014, noting the continuation of the Scheme and officials keeping him updated on the Scheme progress from time to time. A copy of the Ministers letter can be viewed below.
The next full assessment of the standard published consumer gas contracts will take place in 2015, with contracts being assessed against the amended benchmarks and newly introduced 'Reasonable Consumer Expectations' which are included in Related Documents below.