We present the RIIO accounts for Western Power Distribution (WPD), for the year ended 31 March 2018. This report contains information for the four Distribution Network Operators (DNOs) owned by WPD, and their combined total.

WPD’s RIIO accounts for 2017/18 have been prepared under the same approach as our 2016/17 RIIO accounts, which were broadly in accordance with the original RIIO accounts format OFGEM proposed, although WPD’s presentation is more concise.

We are publishing our RIIO accounts for the second time on a voluntary basis. The aim of the RIIO accounts process was to reflect regulatory performance, assets and liabilities. As a result, there are some differences between RIIO accounts and generally accepted accounting principles. OFGEM’s plans for RIIO accounts are evolving into the Regulatory Financial Performance Reporting requirements, the output of which WPD also intends to publish in due course.

We welcome any comments and feedback from stakeholders on our second publication.

Stakeholders can send their feedback to riioaccounts@westernpower.co.uk.