Direction to modify Sizewell C Price Control Financial Model (PCFM)
Our decision to modify the Sizewell C Price Control Financial Model (PCFM) to determine the Variable Values as part of the 2026 Annual Revenue Setting Process.
Details
Having considered the matters set out in the proposed modification and the representation received in response, Ofgem has decided to direct modifications to the Sizewell C Price Control Financial Model (PCFM) to set the Variable Values for the 2026 Annual Revenue Setting Process (ARSP).
We received one response to the proposed modifications from the licensee, Sizewell C Limited. Following consideration of the response and subsequent engagement with Sizewell C Limited, we have made five changes to the Variable Values set out in the proposed direction to modify Sizewell C Price Control Financial Model (PCFM).
PCFM Variable Values are defined parameters within the Price Control Financial Handbook (PCFH) that are used to calculate the Allowed Revenue through the PCFM as part of the ARSP.