Decision published on SONI’s Forward Work Plan 2022/2023 Financial Incentive

SONI published their Forward Work Plan (FWP) in September 2022. The Utility Regulator then asked for written submissions from stakeholders on their views of the plan and a workshop was held in November, when SONI presented their plans for the year ahead.  

The Evaluative Performance Framework (EPF), devised as part of the SONI 2020 to 2025 price control, allows for an evaluation of SONI’s performance by an independent panel of experts (“the panel”).

The panel conducted an evaluation of SONI’s FWP, taking all evidence into account. The panel then submitted their recommendation report to us in December 2022.

Having considered the panel’s recommendation report, and all evidence, we made our final decision to accept the panel’s grading of SONI and the subsequent financial incentive. The final reward/penalty will be dependent upon the outturn performance report at year end. The £208k FWP financial incentive figure may increase or decrease depending upon performance and output delivery against the plan.  

We have written to both SONI and the panel to advise of our decision, which we are publishing today, along with the panel’s recommendation report:

Letter to SONI UR Decision FWP 2022-23 | Utility Regulator (uregni.gov.uk)

Letter to EPF Chair RE UR Decision SONI FWP 2022-23 | Utility Regulator (uregni.gov.uk)

EPF Panel Report | Utility Regulator (uregni.gov.uk)

Next steps – mid-year review

SONI will publish their mid-year performance update by the end of April and will host a workshop in May for interested stakeholders. More details to follow.
 

Related articles:

https://www.uregni.gov.uk/news-centre/soni-evaluative-performance-framework-sonis-annual-forward-plan-202223-call-evidence

https://www.uregni.gov.uk/news-centre/soni-evaluative-performance-framework-annual-forward-plan-20222023-and-invitation

https://www.uregni.gov.uk/news-centre/soni-evaluative-performance-framework-annual-forward-plan-202223-publication