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. We are consulting on the modification of the financial handbooks for all sectors and as signalled in our decision we have incorporated this into one uniform chapter.