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P447 was raised by National Grid ESO on 28 September 2022. The Proposer requests that the Modification Proposal be treated as urgent. The BSC Panel will consider the request at an Urgent Modification Panel meeting on 29 September 2022, then the proposal will be submitted to Ofgem.

Ofgem have granted Urgent status for P447 ‘Avoiding impact of Winter Contingency actions on cash-out prices’. Ofgem’s decision letter, which includes their rationale, is attached.

On 4 October 2022 Ofgem granted urgency with an amended timetable, which means the following:

• A 5WD consultation starting 5 October, closing at 5pm Wednesday 12 October;
• Modification report presented to the Panel at its scheduled meeting on 13 October;
• Final modification report to Ofgem on the same day as the Panel’s consideration and recommendation;
• Subject to approval, implementation the day after Ofgem decision.