C | CONSTRAINTS
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C1 The price, scope and funding of the PPPs are reviewed every 7½ years
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C1.1 | The price, scope and funding of the PPPs are reviewed every 7½ years
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Arbiter review in practice
Arbiter review in practice
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The Arbiter may act at periodic review or at other times (in limited circumstances)
The Arbiter's remit depends on the extent the parties want him to be involved
The Arbiter must determine an "economic and efficient" price
"Economic and efficient" can be measured, and interpreted, in different ways
The existence of an Arbiter creates a pricing risk, but the Arbiter is seeking to reduce this uncertainty through early and open engagement with the parties