Aquarius 3: financial model -final business plan version

Aquarius 3: financial model -final business plan version - letter to RDs

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Sent to Named RDs

15 January 2004

Dear

AQUARIUS 3 FINANCIAL MODEL – FINAL BUSINESS PLAN VERSION

The final version of Aquarius 3 for use in the final business plan and determinations has been released today along with the final business plan ICS.

The Aquarius 3 software has been released via the website and can be found at http://www.ofwat.gov.uk/aptrix/ofwat/publish.nsf/Content/Aquarius3_5.2

There have been a small number of changes to the pre-audit version of the model that was released on 16 December 2003. The release note includes details of all the changes made since the draft business plan version. In summary the changes to the model are:

Improvements to the database;
Increased alignment of inputs with the ICS;
Increased alignment of Aquarius 3 outputs to ICS;
Corrections to minor errors found during use for the draft business plans; and
Tax calculations.

The January 2004 update will be the version of the financial model that we expect companies to use when preparing the final business plans for submission on 7 April 2004. We will use the January 2004 update of the model to determine price limits for 2005-10. However, if there are unforeseen developments during the course of the review prior to the submission of the final business plans in April 2004 (or after) that require changes to the model, there will be a further release to deal with these. We will explain the reasons for this and give as much notice as possible should the need arise.

We have updated the rule book to reflect the changes made to the model since May 2003. The rule book provides an overview of the modelling principles and contains the definitions for the inputs.

We have updated the colour coded guide to the source of the inputs which we issued with the pre-audit version in December. This is an excel file (contained in a Zip file) that can be used to combine the data that will be exported from the final business plan ICS, core data and the remaining inputs required. The colouring also indicates the years in which each item should be populated. Instructions for using this file have been prepared. The instructions and the excel file are on the website with this letter.

We will distribute the updated Aquarius 3 User Manual at the workshops later this month. A copy will also be put on the website at that time.

If you have any problems using version 5.2 of the software please contact us on aquarius3@ofwat.gsi.gov.uk.

Yours sincerely

DAWN HARRISON
Head of Financial Modelling

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