Risk of flooding - We measure the total risk of flooding due to lack of capacity by assigning all properties/areas on the flooding risk registers to a risk matrix based on the likelihood of flooding occurring and the impact if it does. We then use this to calculate the aggregate score for the company.
We are targeting a steady risk profile, maintaining an aggregate score of 50,651 despite upwards pressure from climate change and urban creep, over 2015-20.
This is another measure that has the potential for both customer refunds and incentive payments, although as it is a new measure with limited historic data to support it there is a large deadband around the target. If we exceed the target by more than 20% we will refund customers £10.4m; if we beat the target by more than 20% we can claim an incentive payment of £7k for each additional point the aggregate score is reduced by.
In 2018-19 we achieved a risk score of 50,176 which is better than the target. This within the outperformance deadband so no incentive payment will be claimed.
Our investment programme to address flooding risks is progressing well and we are confident we will achieve the target for 2019-20.