Summary of recent modifications to the ET1 Price Control Financial Model 2018
Guidance
Publication date
Industry sector
Transmission Network
In accordance with Special Condition 5A.17(d), we are publishing an up-to-date schedule of modifications made to the ET1 Price Control Financial Model (PCFM). This page lists all modifications between the publication of the 2016 Annual Iteration Process (AIP) on 30 November 2016 and the publication of the PCFM for use in AIP 2018.
On 17 May 2017, we published the PCFM, which reflected reduced totex allowances for National Grid Electricity Transmission (NGET), and increased allowances for the Electricity System Operator (ESO), following the conclusion of the Mid Period Review.
On 4 August 2017, we published the PCFM which reflected NGET's voluntary deferment of £480m allowances with respect to non-variant load and asset replacement expenditures.
On 13 September 2017, we published the PCFM for use in AIP 2017, which included non-significant, house-keeping changes.
On 26 September 2018, we published the PCFM to reflect the decision on the appropriate level of funding for the ESO. This increased allowances for the ESO following SO-TO licence separation.
The May, August and September 2017 modifications were reflected in AIP 2017, whilst the September 2018 modifications will be reflected in the current AIP 2018.
No further modifications have been made.
Full details of the modifications are available in the linked directions.