Electricity distribution licensees must use the latest versions of the ED2 Price Control Financial Model when calculating the value of their allowed revenue. The Price Control Financial Model is part of the electricity distribution licence special conditions.
Changes to the calculations within the Price Control Financial Model represent a modification under the electricity distribution special conditions and are made under Parts B and C of Special Condition 8.1 of the licences. We track these versions of the Price Control Financial Model by updating the suffix to the file name, for example "V1", "V2", "V3".
Some changes to the Price Control Financial Model do not constitute a modification (such as just updating the input variable values). An update only for these purposes will not be given a unique version number but labelled as an update at the end of the filename such as "updated on 5 November 2023".
The full history since the launch of ED2 is as follows: