Northern Ireland Water (NI Water) is currently in its third regulatory price control period, PC15. This covers the six year period from April 2015 to March 2021, a much longer duration than any of NI Water’s previous price controls.
When we published our approach to PC15 and our final determination on the company’s investment proposals, we noted the potential uncertainty associated with the development of a longer term investment plan and the provision of funding on an annual basis through a public expenditure regime.
In recognition of this, we proposed that PC15 should include a mid-term review so that the company’s investment proposals could be reviewed and if necessary amended as a consequence of any changes that might have occurred in the first half of the price control period.
The mid-term review was also intended to provide an opportunity for NI Water’s progress in delivering the key development outputs required to support its investment planning for PC21 to be reviewed.
Our PC15 mid-term Review Approach explained how we intended to carry out the mid-term review and the timescale to completion. It built upon the outline proposals included in our PC15 approach document and final determination and explained the extent and scope of the work that would be undertaken through reference to specific elements of our price control determination.
We have now completed our review and the final report was published on 14th February 2018.