Consultation on the final 2010-15 reconciliation

About Consultation

The details of this consultation on the final 2010-15 reconciliation are explained below.

Please also refer to the Consultation under section 13 on proposed modification to condition B Licences for 17 water companies.

Final reconciliation

We have now published our proposals for reconciling the incentive arrangements for companies’ performance and expenditure for the 2010-15 period, now that companies have provided complete information and final audited spend and performance data for the whole 2010-2015 period. This is that document.
This consultation document is accompanied by a specific appendix for each company showing how we have assessed the claims companies have made and the basis for our initial decisions.
We are also publishing detailed spreadsheets containing calculations of the adjustments for each company.

Reissue of PR14 reconciliation rulebook

We are proposing changes to the Rulebook, including in respect of the Wholesale Revenue Forecasting Incentive Mechanism (WRFIM), so that the formula references the Revenue Correction Mechanism (RCM), which was a similar mechanism at PR09. These include other minor amendments as explained in the document.

Note: On 31 October 2016 page 1 of the PR14 reconciliation rulebook was amended to reflect its publication date of 5 October 2016. This was previously listed as 20 September to reflect the date the updates were applied. We have made this change to remove any ambiguity in the process.