Northern Ireland Water (NI Water) is currently in its third regulatory price control period, PC15. This covers the six-year period from 1 April 2015 to 31 March 2021. When we published our approach to PC15 and our final determination, 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. 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 PC21 investment planning, to be reviewed.
We have now commenced this mid-term review process and our Approach document explains how we intend to carry out the review and the timescale for completion. It builds upon the outline proposals included in our PC15 approach document and final determination and explains the extent and scope of the work that will be undertaken through reference to specific elements of our price control determination.