Ofcom view this monitoring regime as an essential safeguard to manage the risks associated with the significant removal of price controls and to enable Ofcom to fulfil their statutory duties, ultimately ensuring the delivery of a universal postal service.
It is essential Royal Mail can demonstrate progress to Ofcom against our business plans. This is the principal measure that Ofcom will use to determine whether their regulatory framework is effectively protecting the universal service, whilst driving efficiency at Royal Mail.
What Royal Mail must do:
Royal Mail is required to provide statutory financial statements (Profit & Loss, balance sheet, cash flow) for:
- Royal Mail Group
- The reported business (i.e. Universal service network, defined as the historic Royal Mail Letters & Wholesale entity)
- Four financial reporting entities (Universal Service Obligation upstream, non Universal Service Obligation upstream, downstream, end to end).
Go to our regulatory financial statements section to view these statements.
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