We present the RIIO accounts for Western Power Distribution (WPD) for the year ended 31 March 2017. This report contains information for the four Distribution Network Operators (DNOs) owned by WPD, and their combined total.
We are one of the first energy network operators to release a set of accounts as part of our regulator Ofgem's new accounting process.
The process will become compulsory in the future but we have issued our RIIO accounts voluntarily and we are seeking stakeholder comments and feedback on the format and content of the report to help shape future editions.
RIIO stands for Revenues = Incentives + Innovation + Outputs and is the means by which Ofgem ensures network operators deliver value for consumers, behave efficiently and achieve its targets while at the same time ensuring their costs are covered and shareholders receive a reasonable return - which is set at 6.4% for WPD.
The aim of the new RIIO accounts process is to reflect regulatory performance, assets and liabilities. As a result, there are some differences between RIIO accounts and generally accepted accounting principles.
Stakeholders can send their feedback to firstname.lastname@example.org.
Please click here to view our RIIO Accounts document.