RAG 3.14 Guideline_for_the_format_and_disclosures_for_the_annual_performance_report 2024

Guideline for the format and disclosures for the annual performance report

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31st March, 2023




Regulatory accounting guidelines


Water companies are required to prepare a set of regulatory accounting statements for each twelve-month period ending on 31 March. Condition F of the companies’ licences sets the purpose and framework for the regulatory accounting guidelines (RAGs) and the checks and balances associated with them but omits any specific detail as that detail is already contained in RAG 3. Condition F makes it clear that the requirements in the RAGs must be complied with, albeit within the scope and purpose set by Condition F as a whole. Within the published RAGs there are some matters which are outside the framework of Condition F. One example of this is information required on outcomes performance. We are, however, able to require the provision of this information, with the form and content set out, under other conditions in the licence. In order to help people understand the basis on which we require information we include the basis for requesting information within annex A3 of this guideline. This document was updated on 10 April 2024 to make minor amendments to reflect the modification, effective from May 2023, which we made to each companies' licence to amend the condition which relates to its dividend policy and to update the tables in annexes A1 and A3 to include the five new tables which those companies with accelerated infrastructure delivery project and PR24 transition expenditure are now required to provide as part of their Annual Performance Reports.