2025 ERA External Regulatory Assurance (2025 0191- WS3202969892)

Lot 1 – Technical Assurance . Engineering design and technical scope .

Optioneering and option-selection processes . Alignment between need, scope, solution and outcomes .

Deliverability and programme milestones . Asset-management evidence and decision-making .

Risk registers and technical risk assessments . Scope changes and change-control processes .

Data lineage, data quality and evidence trails . Consistency with PR24 submissions, previous regulatory submissions and agreed assumptions .

Environmental, statutory and regulatory drivers . Dependencies between schemes, programmes and strategic plans .

The completeness, accuracy and robustness of technical evidence used to support Board and regulatory submissions Lot 2 – Cost & Efficiency Assurance . Cost-estimating methodologies .

Unit rates and cost build-up assumptions . Comparative cost assessment and benchmarking including a range of econometric techniques .

Cost drivers and explanatory factors . Risk, uncertainty and optimism-bias allowances .

Scope-cost alignment . Allocation between base and enhancement expenditure .

Cost escalation and inflation assumptions . Change control and change-control processes .

Including, but not limited to checking Stata code and excel packages . Material movements from PR24 assumptions or other established benchmarks .

Evidence quality and auditability . Consistency between costs, identified needs, benefits and expected outcomes Lot 3 – Financial Assurance .

PR29 financial data tables and associated working papers . Anglian’s use of Ofwat’s financial model .

Feeder models used to populate Ofwat’s financial model . Financial model controls, including version control, formula integrity, change control, access control, input checks and output reconciliations .

Documented processes for preparing, reviewing, approving and submitting financial information . Data lineage from source systems, working papers and feeder models through to final submission tables .

Consistency between financial data tables, the financial model, business plan narrative, Board papers and assurance statements . Financial assumptions, including inflation, interest rates, dividend assumptions, gearing, PAYG, RCV run-off and other relevant financial parameters .

Financeability assessments using both actual and notional capital structures . Calculation and presentation of relevant financial ratios .

Economic and company-specific scenarios, including the treatment of the CPI/RPI wedge where relevant . Sensitivity testing and downside scenarios .

Evidence supporting key assumptions and judgements . The adequacy of commentary explaining material movements, uncertainty, judgement and links to the wider plan

Technical - as described in the tender documents Cost & Efficiency - as described in the tender documents Financial - as described in the tender documents