Paragraph 3
(1)
Subject to sub-paragraph (2), for specific investment projects completed—
(a)
since 1988; or
(b)
following the coming into force of these Regulations,
the infrastructure manager may set or continue to set higher charges on the basis of the long-term costs of the project.
(2)
For sub-paragraph (1) to apply—
(a)
the project must increase efficiency or cost-effectiveness; and
(b)
the project must be one that could not otherwise have been undertaken without the prospect of such higher charges.
(3)
A charging arrangement to which sub-paragraph (1) applies may incorporate agreements on the sharing of the risk associated with new investments.