GSL Code Guaranteed Service Level Code which took effect from 1 January 2012 as amended from time to time. GSL payment A payment made, or required to be made, by PWC Networks to a retail customer when the retail customer received service at a worse than the prescribed GSL. PWC Networks must make GSL payments in accordance with the GSL Code. insurance event An insurer credit risk event or a liability above insurance cap event. insurer credit risk The insolvency of a nominated insurer of PWC Networks, as a result of event which PWC Networks: (a) incurs materially higher or lower costs for insurance premiums than those allowed for in the 2014 Network Price Determination; and (b) (in respect of a for a risk that would have been insured by that insurer) is subject to a materially higher or lower claim limit or a higher or lower deductible than would have applied under materially the policy but for the insolvency of that insurer. liability insurance Any beyond the control of PWC Networks for which external insurance cap event has been provided and the loss suffered by PWC Networks as a result of the occurrence of that event exceeds the policy limit under that insurance and the excess loss borne by PWC Networks materially increases the costs to PWC Networks of providing the regulated network access services. maintenance costs Is used in this Network Price Determination to describe expenditure relating to the maintenance of the PWC Networks electricity network. For the purposes of the application of clause 3.1 of the 2014 Network Price materially Determination, an event results in PWC Networks incurring materially higher or materially lower costs if the change in costs (as opposed to the revenue impact) that PWC Networks incurred and is likely to incur in any regulatory year in the 2014 19 regulatory control period, as a result of – that event, exceeds 1 per cent of the annual revenue requirement for that regulatory year. natural disaster event Any fire, flood, earthquake or other natural disaster beyond the reasonable control of PWC Networks (but excluding those events for which external insurance or self-insurance has been included within PWC Networks' forecast operating expenditure) that occurs during the 2014 19 – regulatory control period and materially increases the costs to PWC Networks of providing the regulated network access services. negative change A pass through which entails PWC Networks incurring materially lower costs in providing the regulated network access services than it would have incurred but for that event.
GSL Code Guaranteed Service Level Code which took effect from 1 January 2012 as amended from time to time. GSL payment A payment made, or required to be made, by PWC Networks to a retail customer when the retail customer received service at a worse than the prescribed GSL. PWC Networks must make GSL payments in accordance with the GSL Code. insurance event An insurer credit risk event or a liability above insurance cap event. insurer credit risk event The insolvency of a nominated insurer of PWC Networks, as a result of which PWC Networks: (a) incurs materially higher or lower costs for insurance premiums than those allowed for in the 2014 Network Price Determination; and (b) (in respect of a for a risk that would have been insured by that insurer) is subject to a materially higher or lower claim limit or a materially higher or lower deductible than would have applied under the policy but for the insolvency of that insurer. liability insurance cap event Any beyond the control of PWC Networks for which external insurance has been provided and the loss suffered by PWC Networks as a result of the occurrence of that event exceeds the policy limit under that insurance and the excess loss borne by PWC Networks materially increases the costs to PWC Networks of providing the regulated network access services. maintenance costs Is used in this Network Price Determination to describe expenditure relating to the maintenance of the PWC Networks electricity network. materially For the purposes of the application of clause 3.1 of the 2014 Network Price Determination, an event results in PWC Networks incurring materially higher or materially lower costs if the change in costs (as opposed to the revenue impact) that PWC Networks incurred and is likely to incur in any regulatory year in the 2014 – 19 regulatory control period, as a result of that event, exceeds 1 per cent of the annual revenue requirement for that regulatory year. natural disaster event Any fire, flood, earthquake or other natural disaster beyond the reasonable control of PWC Networks (but excluding those events for which external insurance or self-insurance has been included within PWC Networks' forecast operating expenditure) that occurs during the 2014 – 19 regulatory control period and materially increases the costs to PWC Networks of providing the regulated network access services. negative change A pass through which entails PWC Networks incurring materially lower costs in providing the regulated network access services than it would have incurred but for that event.
US-FD-NPD14-B.docx