In front of me today are two letters from two different firms in the same region, resetting their SMPs for January. I am put in mind of this post about a month ago.
In case 1 the LSC use a “12 month average” for their forward projection in the second 6 months. In both cases the period chosen benefited the LSC in that it lead to the reduction of the SMP. In both cases they also only allowed a 5%, rather than a 7.5%, “balance of payments” figure, again to the firm’s detriment.
Both are now seeking reviews.
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