Regulated Asset Value means the regulatory asset value of the Issuer as set out in the most recent Final Determination or, if any electricity distribution price control financial model has been published on Ofgem's website since the most recent Final Determination, the regulatory asset value of the Issuer as set out in such financial model, in each case, adjusted for inflation, as of the 31 March nearest to the date of determination, provided that if at any time Ofgem alters its methodology of determining Regulated Asset Value in a manner which results in a change in Regulated Asset Value, appropriate adjustments to this definition (and to other terms defined or described herein solely for the purposes of this definition) so as to preserve the original intent of Condition 10(c) (Events of Default) shall be determined by an independent accountant experienced in the regulated electricity distribution market selected by the Issuer.
Regulated Asset Value means the regulated asset value attributed to the Issuer as last determined and notified to the Issuer by the Authority at the most recent regulatory review.
Regulated Asset Value or “RAV” means the regulatory asset base of BWH plc most recently published by OFWAT for the applicable Financial Year end, adjusted for inflation to that Financial Year end, based on the best available information and provided that where a draft OFWAT determination is available, the figures set out in such draft OFWAT determination shall be used, adjusted for inflation, unless otherwise agreed by the Agent.
Examples of Regulated Asset Value in a sentence
The ECC requires that TPL earn a rate of return (currently set at 12.9 %) of its Regulated Asset Value (RAV).
It is only the Scottish electricity TSOs that are not ownership unbundled, representing less than 10% of the total transmission Regulated Asset Value.
It is only the Scottish electricity TSOs that are not ownership unbundled, representing less than 10% of the total transmission Regulated Asset Value (RAV).
To put that in context, this could more than double the existing Regulated Asset Value (RAV) of the GB transmission system, valued at £6.5bn in 2007/08.
As a commissioned investment project is to be included in the Regulated Asset Value of the TSO, a general adjustment (positive or negative) of tariffs at other IPs will be the logical outcome of the application of the cost allocation methodology.
More Definitions of Regulated Asset Value
Regulated Asset Value means in relation to any date, the amount calculated as the regulated asset value of NGN as last determined and notified to NGN by the Authority (“Base Date”); plus a revaluation adjustment based on the actual capital additions and the increase since the Base Date in the Retail Prices Index published by the Office for National Statistics, provided that if the method for the determination of the regulated asset value of NGN is substantially modified from the method used as at the Issue Date, two directors of the Issuer (after consultation with NGN) will certify in good faith to the Trustee (i) that they have duly consulted NGN and(ii) what changes to this definition (if any) shall be required in order that, for the purposes of this definition, the regulated asset value of NGN is determined on a basis which is substantially consistent with that used as at the Issue Date.
Regulated Asset Value has the meaning given to it in Article 6.14C.
Regulated Asset Value or "RAV" means the regulatory asset value of the Issuer, as set out in the most recent Final Proposals, adjusted for inflation, as of the 31 March nearest to the date on which the Issuer proposes to make any Distribution or other relevant date, provided that if at any time Ofgem alters its methodology of determining RAV in a manner which results in a change in RAV, appropriate adjustments to this definition (and to other terms defined or described herein solely for the purposes of this definition) so as to preserve the original intent of Conditions 4(b) (Restriction on Distributions) and 10(c)
Regulated Asset Value or "RAV" means the regulatory asset value of the Borrower, as set out in the most recent Final Proposals, adjusted for inflation, as of the 31 March nearest to (i) the relevant Calculation Date, in the case of a calculation of the ratios set out under Article 6.14A or, as the case may be, (ii) the date on which the relevant member of the Group proposes to incur any further Financial Indebtedness other than Permitted Financial Indebtedness (in the case of the covenant under Article 6.13), provided that there shall be included in any determination of RAV the value of any assets which were included in RAV as at 31 March 2010 but which (i) subsequently are excluded from RAV by OFGEM, (ii) have become subject to a separate price control arrangement, and (iii) are still owned by the Borrower as of the date of determination of RAV, and provided further that if at any time OFGEM alters its methodology of determining RAV in a manner which results in a change in RAV, the Bank may require the Borrower to enter into negotiations with a view to agreeing appropriate adjustments to this definition (and to other terms defined or described herein solely for the purposes of this definition), whereupon the Borrower and the Bank shall promptly in good faith negotiate such appropriate adjustments so that the original intent of the undertakings set forth in Articles 6.13 and 6.14 hereof is preserved and in the absence of agreement between the Bank and the Borrower within 60 (sixty) days from the date when the Bank has requested the entering into of such negotiations, such adjustments shall be determined by an independent accountant experienced in the regulated electricity distribution market selected by the Bank.
Regulated Asset Value or "RAV" means the regulatory asset value of NEDL, as set out in the most recent Final Proposals, adjusted for inflation, as of the 31 March nearest to the date on which NEDL or the Issuer proposes to incur any further Financial Indebtedness other than Permitted Financial Indebtedness or to make any Distribution, provided that there shall be included in any determination of RAV the value of any assets which were included in RAV as at 31 March 2005 but which (i) subsequently are excluded from RAV by OFGEM, (ii) have become subject to a separate price control arrangement, and (iii) are still owned by NEDL as of the date of determination of RAV, and provided further that if at any time OFGEM alters its methodology of determining RAV in a manner which results in a change in RAV, NEDL and Ambac shall promptly in good faith negotiate appropriate adjustments to this definition (and to other terms defined or described herein solely for the purposes of this definition) so that the original intent of the undertakings set forth in Conditions 10(c), 10(d) and 10(e) is preserved and in the absence of agreement between NEDL and Ambac within 60 days, such adjustments shall be determined by an independent accountant experienced in the regulated electricity distribution market selected by NEDL.
Regulated Asset Value means in relation to any date, the amount calculated as the regulated asset value of the Issuer as last determined and notified to the Issuer by the Authority (the Base Date); plus a revaluation adjustment based on the actual capital additions and the increase since the Base Date in the Retail Prices Index (and, from 1 April 2021, the Consumer Prices Index including owner occupiers’ housing costs) published by the Office for National Statistics, provided that if the method for the determination of the regulated asset value of the Issuer is substantially modified from the method used as at the Issue Date, two directors of the Issuer will certify in good faith to the Agent what changes to this definition (if any) shall be required in order that, for the purposes of this definition, the regulated asset value of the Issuer is determined on a basis which is substantially consistent with that used as at the Issue Date.
Regulated Asset Value. ’ or ‘‘RAV’’ means the regulatory asset base of the Issuer most recently published by OFWAT for the applicable Financial Year end, adjusted for inflation to the most recent Calculation Date falling on 31 March, based on the best available information and provided that where a draft OFWAT determination is available, the figures set out in such draft OFWAT determination shall be used, adjusted for inflation, unless otherwise agreed by the Trustee;