The fair value movement of the borrowings designated at fair value through profit or loss is derived from movements in the market ask price of the bond; this is a Level 1 input under IFRS This brings many opportunities and challenges in helping to shape the role the Company will play in the electricity industry of the future. The Company respects all human rights and regards those rights relating to non-discrimination, fair treatment and respect for privacy to be the most relevant and to have the greatest potential impact on key stakeholder groups of customers, employees and suppliers. Revenue has increased to GBPm They are also responsible for safeguarding the assets of the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Information about the valuation techniques and inputs used are disclosed in note
We are based here and we invest here. Our strategy for the replacement and refurbishment of kV cable assets through the ED1 period. Our job is to keep electricity flowing safely to our customers’ homes and businesses, keeping the lights on 24 hours a day, seven days a week. Composition of the Committee and attendance by individual members at meetings is detailed on page Being at the forefront of this change, we are using our experiences to influence the future shape of the Company’s services. If any such indication exists, the recoverable amount of the asset is estimated to determine the extent of the impairment loss, if any. These scenarios aim to represent a reasonable view of heat pump uptake and domestic energy consumption from lighting and appliances, based on the assumption that Government remains committed to meeting carbon targets.
A few customers experience a level of service significantly worse than average, usually by virtue of their location or due to localised network issues.
The Company has constantly to make decisions that balance the conflicting priorities of maintaining a reliable network in the near term, investing to ensure this is sustainable in the long term, whilst keeping costs as low as reasonably practicable to meet the affordability challenge for our customers.
If the DNO over-delivers on these investments, and again this must be justified, they will receive an increase in their ED2 allowed revenue and a 2. Goodwill is allocated to cash-generating units and is not amortised but reviewed for impairment annually, or more frequently when there is an indication that it wet be impaired.
IGov | New thinking: The RIIO EDI Review: Just how successful is RIIO?
In the short term we argue that there would be more value to companies being committed to producing a DER plan of their DNO areas over a 2 year process to recognize the value of future network systems, and to bring interested parties together. Stakeholder Engagement — Further Detail.
The Audit Committee was requested to assist the Board in confirming that the Annual Report is fair, balanced and understandable. Further detail is contained in the Strategic Report. Our approach to using innovation to improve our services and provide long term value for money. In the year ended 31 Marcha total network investment programme of GBP An independent bottom-up assessment of required future network investment for the 11kV and LV SPEN distribution networks, specifically considering the impact of future low carbon technology uptake.
These risks are considered in the context of the corporate goals – Safety, Customer, Affordability, Reliability, Sustainability and People and monitored by a business wide network of Risk Co-ordinators.
Non-distribution sales relate to the invoice value of other goods and services provided which also relate to the electricity network. Just how successful is RIIO?
Electricity North West
When the Group exchanges with the existing lender bisiness debt instrument into another one with the substantially different terms, such exchange is accounted for as an extinguishment of the original financial liability and the recognition of a new financial liability.
Under IFRS, the Group recognises revenue generally at the time of delivery and when collection of the resulting receivable is reasonably assured.
GBP79,as well as differences below that threshold that, in our view, warranted reporting on qualitative grounds. Following the impact in our region of storms Desmond and Eva last year the mitigation of the impact of flooding is an important area of focus.
No other customer represented more than 10 per cent of revenues either this year or in the prior year. Whilst we have reduced the numbers of failures this year we are still not at the level of service that we elechricity to give to our customers and will be continuing to focus on making improvements next year. Significant investment is made by the Company in developing our managers into leaders who are able to demonstrate the Company’s culture.
The Committee reviews and approves the overall remuneration levels of employees below senior management level, but does not set remuneration for these individuals. Included within the total borrowings figure wwest GBP71m of loans from the slectricity company North West Electricity Networks plc, due to mature in March RIIO is an attempt to do this, but is still far from successful even on its own terms, and anyway is very cautious.
Matters that either are possible obligations or do not meet the recognition criteria for a provision are disclosed, unless the possibility of transferring economic benefits is remote. This document also links into our Innovation Strategy and Smart Metering Strategy, explains how we will develop eiio solutions for the future network and how these will form part of our expenditure in the future.
Goodwill is measured as the excess of the consideration transferred over the net of the acquisition-date amounts of norgh identifiable assets acquired and liabilities assumed, and is recognised as an asset.
Subsequent costs are included in the asset’s carrying amount or recognised as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Group and the cost of the item can be measured reliably. Productivity improvements are essential in being able to deliver savings for our customers and workforce flexibility is an important part of this. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, regardless of whether that price is directly observable or estimated using another valuation technique.
The Electriciyt is dedicated to achieving the ppan standards of environmental performance, not only by minimising the risks created by our activities, but also through targeted investment in outputs that deliver a positive environmental impact. The financial assets held electricitty the Group are either financial assets ‘at fair value through profit businss loss’ FVTPL or ‘loans and receivables’.
Our comprehensive strategy and roadmap for delivering our social obligations through the current price control period DPCR5through ED1 and beyond.
The assessment of the depth of a market for high quality corporate bonds should be at the currency level i. Time to Connect Incentive for smaller customer connections that gives a financial reward of up to 0.
Customer contributions received in respect of expenditure on property, plant and equipment are treated as deferred income, which is credited to the Income Statement over the estimated economic lives of the related assets.
Under the Executive Incentive Plan bonuses are awarded and either paid in the following financial year accrued bonus or paid in subsequent electircity amounts receivable under long-term incentive schemes.