The Annual Iteration Process for the RIIO-ED1 Price Control Financial Model (PCFM) is used to calculate the value of the term MOD for use in the formula for Base Demand Revenue contained in Special condition CRC 2A of Electricity Distribution Licenses. The first Annual Iteration Process for the RIIO-ED1 PCFM took place on 30 November 2015. A description of the Annual Iteration Process is contained in the ED1 Price Control Financial Handbook (the handbook).
This page contains the current versions of the PCFM and handbook.
It should be noted that the total amount of allowed price control revenue for each licensee contains other components in addition to Base Demand Revenue – reference should be made to Special condition CRC 2A for further details.