Today, we publish increased Compensation Rates for the Access Letters Contract (ALC) that will come into effect over two phases to reflect recent announced changes to Letter and Large Letter prices:

1. To reflect the General Large Letter price changes which became effective on 2 April 2024, the Band 1 Compensation Rate will increase from 1.579p to 1.583p, and the Band 2 Compensation Rate is increasing from 3.382p to 3.391p. The new rates shall apply to any eligible Performance Rebates Amounts payable for Quarter 2 of 2024/25.

2. To reflect the Letter and Large Letter price changes which become effective from 1 July 2024, the Band 1 Compensation Rate will increase from 1.583p to 1.760p, and the Band 2 Compensation Rate is increasing from 3.391p to 3.771p. These new rates shall apply to any eligible Performance Rebates Amounts payable for Quarter 3 of 2024/25 and onwards, unless we notify otherwise.

You can find the new Compensation Rates on our Pricing page. The enclosed formal change notice gives effect to the changes.