The difference between the two amounts is recognised as a surplus or obligation in the Statement of Financial Position. Social Obligation Strategy Our comprehensive strategy and roadmap for delivering our social obligations through the current price control period DPCR5 , through ED1 and beyond. Interested institutional debt investors can also gain access to additional financial information by either contacting the Head of Strategic Planning and Investor Relations, or by registering for the Investor Relations Secure Area on the Investor Relations page of the website. This does not affect the offsetting performed in these financial statements. Broad Measure of Customer Satisfaction breakdown of possible incentives. This confirmation is given and should be interpreted within the provisions of s of the Companies Act

In each case a detailed role description was prepared following a review of the Board’s skills and experience and the needs of the Company. Goodwill arising on the acquisition is recognised as an asset and initially measured at cost, being the excess of the cost of the business combination over the Group’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities recognised. The Directors’ statement on a fair, balanced and understandable Annual Report and Consolidated Financial Statements is set out on page In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified any material misstatements in the Strategic Report and the Directors’ Report. GBP11m on new computer software platforms.

Property, plant and equipment comprise operational structures and other assets including properties, over ground plant and equipment and electricity operational assets.

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The role of the Sufficiently Independent Director was introduced from 1 April as part of a range of enhancements made to the ring-fence conditions in the Company’s licence to protect consumers should a distribution operator experience financial distress. Overall leakage of oil from underground cables in the year was 31, litres, which although slightly above the target of 30, litres per year across the RIIO-ED1 period, was in line with the forecast.

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The Board is responsible for the alignment of strategy and risk, and for maintaining a sound system of risk management and internal controls. A summary of the Cost Benefit Analyses CBAs carried out – along with a summary of each of the individual analyses setting out the approach and rationale for our chosen option.


Sign up for our new, free! The Directors’ statement on a fair, balanced and understandable Annual Report and Consolidated Financial Statements is set out on page Utilisation of undrawn facilities remains subject to limits based on gearing levels determined against the Regulatory Asset Value.

We reviewed the part of the Corporate Governance Statement relating to the company’s compliance with certain provisions of the UK Corporate Governance Code. The role of the Chairman and the Chief Executive Officer is separate and each has a clear role description set out in writing and agreed by the Board. This performance has been driven by a consistent focus on the needs of our customers which are central to achieving our goal to be the leading energy delivery business.

Electricity North West – SEAMS Ltd

The sharing factor percentage rate is that available for customer savings, therefore the remainder is available equity for investors. Success against the People goal is measured through a Climate Survey that provides details of overall employee engagement and how employees feel about the ‘working climate’.

It was our second best ever performance, marginally behind the result. Going concern and the directors’ assessment of the principal risks that would threaten the solvency or liquidity of the group.

The Chairman is responsible for ensuring that all Directors update their skills, knowledge electrlcity familiarity of the Company. These assumptions include those made for investment returns on the scheme’s assets, discount rates, pay growth and increases to pensions in payment and deferred pensions, and riio expectancy for scheme members. We define materiality as the magnitude of misstatement in the financial statements that makes it probable that the economic decisions of a reasonably knowledgeable person would be changed or influenced.

At a senior level the business continues to invest in its leaders, with members of its Executive Leadership Team attending the Institute of Directors IoD Diploma programme working towards Chartered Membership.

This is discussed electrivity. Smart Grid Strategy Our strategy for developing our network for the future, in line with our wider Long Term Strategy.

Electricity North West

A detailed description of the company specific cost implications of the SPM urban interconnected network. In arriving at their conclusion, the Directors have considered the Company’s forecast financial performance and cash flow over the three year viability period. When considering continuing to adopt the going concern basis in preparing the Annual Report and Consolidated Financial Statements, the Directors have taken into account a number of factors, including the following:.


Transaction costs that are directly attributable to the acquisition or issue of a financial asset or financial liability are included in the initial fair value of that instrument.

Electricity North West Limited Annual Financial Report – ADVFN

To ensure the integrity of financial controls and the risk management framework, the Board has delegated the detailed review, but not approval of, these issues to its Audit Committee.

It is a goal that resonates with our employees who live and work in their local communities. Corporate Governance Report In doing so, the Board takes into account all stakeholders, including its shareholders, employees, suppliers and the communities in which it operates. There are a range of penalties and rewards for connections, customer service and social obligations:.

All financial assets are recognised and derecognised on a trade date basis where the purchase or plaan of a financial asset is under a contract whose terms require delivery of the financial asset within the timeframe established by the market concerned, and are initially measured at fair value, plus transaction costs, except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value.

Trade receivables are stated at nominal value with any allowances made for any estimated irrecoverable amounts. The treasury ppan does not undertake any speculative trading activity and seeks to ensure that sufficient funding is available in line with policy and to maintain the agreed targeted headroom on key financial ratios.

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Our colleagues gave up their own Christmas preparations and worked alongside colleagues from our supply chain partners and from other Distribution Network Operators to mobilise the resources required to keep many of our customers on supply and to restore power to those that lost power supplies.

Any matters reported are investigated and escalated as appropriate.