Decision on RIIO-2 PCFM Guidance
Decision
- Publication date
- Industry sector
- Transmission Network
- Distribution Network
- Decision for
- RIIO-2 PCFM Guidance
On 12 April 2021 we published a statutory consultation on the RIIO-2 PCFM Guidance.
We received seven responses to this statutory consultation. Following careful consideration of these responses, we have decided to implement the changes as set out in the RIIO-2 PCFM Guidance Documents and Revenue workbooks we have published. These documents take effect on 01 June 2021.
The documents set out guidance and instructions to help licensees update the variable values in the Price Control Financial Model (PCFM) for the first Annual Iteration Process submission as well as the reporting templates, which licensees need to fill out to calculate some of these variable values.
The contents of these documents is in line with our Final Determinations and licence modifications. These documents should be considered in conjunction with our RIIO-2 special licence conditions and Price Control Financial Instruments.
There are a number of areas where we have yet to consult on the detailed reporting requirements for RIIO-2, these include but are not limited to, corporate governance and performance reporting requirements, the tax reconciliation and RIGs guidance and templates. We will consult on each of these areas in advance of the formal regulatory submission deadline for RIIO-2, which will be in summer of 2022.