8.  Public sector comparator

The public sector comparator (PSC) and the discount rate (and any subsequent material changes) are approved by DTF. The raw (non-risk adjusted) PSC figure (together with high level assumptions) may be disclosed in the request for proposal unless there are justifiable reasons for non-disclosure.

Timing in respect of the approval of the PSC and discount rate will be determined on a project-by-project basis. The disclosure of the total PSC value, e.g. the risk adjusted PSC (either in periodic cash flow or NPC form) may be disclosed following assessment on a project-by-project basis.