Summary of recent modifications to the GT1 Price Control Financial Model 2018
Guidance
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Related directions
In accordance with Special Condition 4A.17(d), we are publishig an up-to-date schedule of modifications made to the GT1 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 following the Mid-period review. This model included a modification made to implement an incentive penalty and reduce the Licensee’s totex allowance following the decision made in the Mid-period review.
On 27 September 2017, we published the PCFM for use in the 2017 AIP. This model included a modification to remove blank operator worksheets, which were previously unused.
On 30 August 2018, we published the PCFM incorporating decisions on Planning and Advanced Reservation of Capacity Agreements (PARCAs) and Fleetwood. The related modifications reflected in the model the introduction of PARCAs and the reduction of revenue allowances for investments at the Fleetwood entry point that did not go ahead.
The May and September 2017 modifications were reflected in AIP 2017, whilst the August 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.