Risk and Uncertainty Insurance Strategy Our strategy for mitigating an appropriate level of risk through transfer by insurance. Attendance by individual members is detailed in the table on page Do Not Change This: The four other Non-Executive Directors are appointed by the Company’s shareholders as their representatives. It is assumed that the terms are substantially different if the discounted present value of the cash flows under the new terms, including any fees paid net of any fees received and discounted using the original effective rate is at least 10 per cent different from the discounted present value of the remaining cash flows of the original financial liability. The allowed revenue is recovered against an estimated level of electricity demand across the network. Further liquidity is provided from short-term deposit balances and unutilised committed borrowing facilities.
In the Company undertook a revaluation of certain assets due to a business combination. The amendments clarify that an entity need not provide a specific disclosure required by an IFRS if the information resulting from that disclosure is not material, whilst reiterating that additional disclosures should be considered when compliance with the specific requirements in IFRS is insufficient for the understanding of users of the financial statements. We agreed with the Audit Committee that we would report to the Committee all audit differences in excess of GBP82, This information is made available to the shareholders through their representation on the Board. The guidance for when held-for-distribution accounting is discontinued is also clarified. Not included in the amounts shown above are further payments made in respect of Directors’ services, as detailed in note Under the Executive Incentive Plan bonuses are awarded and either paid in the following financial year accrued bonus or paid in subsequent years amounts receivable under long-term incentive schemes.
The Committee’s responsibilities include keeping under review the composition of the Board and senior executive, identifying and nominating candidates for approval by the Board to fill any vacancies and succession planning for Directors and other senior executives.
Context — Chapter 3. It could also be through supporting and managing larger local developments, not least being the Moorside nuclear construction project in Cumbria and the construction of Grid Transmission lines to transfer the power to the National Grid from the new power station. The Company aims to provide customers with an excellent service at a competitive price through norh safe and reliable electricity network.
Electricity North West
Hons Economics degree from Durham University. Protective Equipment and Supporting Systems Strategy. The amendments allow the use of the equity method in separate financial statements and also clarify when a parent ceases to be, or becomes, an investment entity the change should be accounted for from the date of the change. Annex Volume C6 Section C. The corresponding lost time incident frequency rate for the electridity ended 31 March was jorth. The Group’s business is asset-intensive.
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These over or under recoveries are included in the profit and loss account for the period and will be corrected in future periods through the Ofgem price setting mechanism. The RIIO price controls have been developed to ensure that the revenues collected from customers es1 linked to company performance.
Annex Volume C8 Section C. I would highlight the commitment and the skills of the employees in the business, the quality of the plant and equipment along with the ability for technical and regulatory innovation, as being some of the key positives of this review. This is achieved by minimising the risk llan adverse impacts such as emissions, as well as investing in outputs that enhance the environment such as the undergrounding of overhead cables and supporting the UK in its move to a low carbon economy.
This model determines how much the Company is allowed to charge its customers to fund network investment and operating costs in the period from to and is designed to drive real benefits for customers. This over recovery will be corrected through adjustments in pricing in two years’ time, in accordance with Ofgem methodology. With the presence of shareholder representatives on the Remuneration Committee, this purpose is directly met.
Electrricity look forward to the challenges and opportunities that will come with the move to a low carbon future. Revenue is gradually adjusted to reflect actual usage in the period over which the meters are read.
The carrying amount of deferred tax assets is reviewed at each balance sheet date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Property, plant and equipment comprise operational structures, giio land and buildings, fixtures and equipment, vehicles and other rd1.
Electricity North West Limited Annual Financial Report
Certain new and amended standards have taken effect during the year, as outlined below. The Group’s long-term debt is comprised of a combination of fixed, floating and eelectricity debt, with a range of maturities and interest rates reflective of prevailing market rates at issue. Our Plan — Chapter 9.
Transaction costs, directly attributable to the acquisition of financial assets or financial liabilities at fair value through profit or loss, are recognised immediately in profit or loss. The Company has strong and open relationships with stakeholders, including Ofgem, local government, schools, emergency services, MPs and central government.
It is evident that improvements have been made in this area in recent years – near miss reports, a leading indicator of safety performance – were 12, in the year, an increase from the 9, near miss reports recorded in the year to March The Committee has designated authority from the Board set out in its Terms of Reference which is published on the Electricity North West website. There are also opportunities to improve cross functional team-working across the business.
The Committee, on behalf of the Board, is responsible rio reviewing the Company’s internal control framework.
The energy system is changing, and needs to change, rapidly and there seems to be a lack of vision amongst some within BEIS, Ofgem and the DNOs with respect to innovation and incentives. He is a fellow electicity the Institute of Materials Minerals and Mining. Although both of these projects will help increase capacity of the existing networks, and therefore the efficiency of the DNOs, they are reasonably conventional, run-of-the-mill type projects.
Financial liabilities are eoectricity as either financial liabilities ‘at FVTPL’ or ‘other financial liabilities’.
In the year ended 31 Marchthe average ed11 of interruptions per customers was Long-term borrowings are mainly at fixed rates to provide certainty or are indexed to inflation to match the Group’s inflation-linked ‘RPI’ cash flows.