LRIC definition

LRIC refers to the costs a company would incur (or save) if it increases (or decreases) the level of production of an existing service or group of services. These costs consist of the costs associated with adjusting future production capacity and reflect forward-looking technology and operations methods.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

LRIC means long run incremental costs, where as "incremental costs" means average forward looking additional costs incurred by the provision of interconnection services and "long run cost" includes all elements of costs including without limitation, operating and capital costs; package

LRIC means long run incremental costs;

Examples of LRIC in a sentence

• Subsequently they would then be required to develop the LRIC model based on these agreed model specifications.

• Long Run Incremental Costs (LRIC): The costs caused by the provision of a defined increment of output, taking a long run perspective, assuming that some output is already produced.

• The consultant in compiling the 2017 IBS engaged in a review and analysis of the data related to cost-based rates and stated that the second benchmark average is based on the subset of Post 2012 Sub-Sample jurisdictions that have cost-based interconnection rates (i.e. Pure LRIC, LRAIC or some other cost standard).

• Interestingly, the decision was concerned with an application by Digicel(Barbados) Limited for a review of the Commission’s decision on the LRIC Guidelines dated 12 December 2011.The Commission’s LRIC Decision stated that following the publishing of LRIC Guidelines, Cable & Wireless (Barbados) Limited was required to provide the Commission with proposed model specifications that were consistent with the said Guidelines.

More Definitions of LRIC

LRIC means Long Run Incremental Cost model;