Part 3: Regulation of Gas and Electricity Markets Time limit for the imposition of financial penalties by the Gas and Electricity Markets Authority Commentary on Sections Section 24: Time limit for the imposition of financial penalties
119.Subsections (1) and (2) amend section 30C(1) of the Gas Act 1986 and section 27C(1) of the Electricity Act 1989, respectively. In both cases, the time limit for Ofgem to impose a penalty for contravention of a licence condition/requirement or failure to achieve a performance standard is increased from twelve months to five years. Subsection (3) ensures that these amendments do not apply to breaches of licence conditions occurring before this section comes into force.