Satisfactory Expected Commercial Return (SECR)

Satisfactory expected commercial return (SECR) is a safeguard for companies in the Maximising Economic Recovery Strategy for the UK (MER UK).

The guidance sets out the approach the OGA will usually take in assessing whether a project achieves a SECR.

The OGA is aware companies use a wide range of metrics and inputs in assessing their returns, not all of which are included in the guidance. The OGA will assess SECR only for the purposes of and as set out in the MER UK Strategy.

Where the SECR safeguard is applied, the OGA aims to take a pragmatic approach, including having discussions with the companies involved, to understand the project.

In addition to the safeguards included in the MER UK Strategy, there are likely to be earlier opportunities to resolve any potential MER UK differences.

The guidance has been published following an earlier consultation.  The consultation response can be viewed here.