Notice to modify the Regulatory Instructions and Guidance held by Network Operators

Publication date
26th June 2017
Closing date
24th July 2017
Policy areas
Status

In April 2017 we made our decision on Ofgem's policy for funding Pension Scheme Established Deficits (PSEDs). This decision clarified the nature of our commitment to provide funding for PSEDs of network operators (NWOs) subject to price control under our RIIO regimes.

As part of this decision we said there would be significant changes to the chapter in the financial handbook that governs the treatment of pensions costs across successive price control periods and subsequent changes to the Pensions Regulatory Instructions and Guidance. This is how NWOs report to us so we can carry out a triennial reasonableness review of their established pension deficit allowances.

We are consulting on the modification of the Pension Regulatory Instructions and Guidance for all sectors. We have already consulted on the changes to the financial handbook.