Water industry regulator Ofwat has published a series of technical documents setting out the details of the financial model it has developed as part of the price review to help it assess companies' business plans.
The three main purposes of the financial model are to:
- determine the wholesale price controls
- calculate the revenues arising from the retail price controls
- help assess financeability of the company
Following external review and feedback from stakeholders, the regulator has made some minor changes to the model - summarised in a release note. Revised versions of the model, rulebook and user guide are available below.
Ofwat has also published information about the feeder models and – following on from its risk and reward guidance – the risk assessment tool.
The risk assessment tool tests the impact of various scenarios on companies’ returns and customer’s bills. Ofwat uses the tool to understand how much risk companies have included in their business plans and how this risk is split between the company and its customers.
The regulator said it does not however expect the companies to test the models for Ofwat, nor is it necessary for them to use them.
Click here to access the documents.
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