NEC3 Term Service - If Option E and a schedule of rates is used,, do you use this or is it cost plus fee?

Under Option E we have submitted a schedule of Rates (Price List)
Identified and defined items 11.2 states (18) The price for Services Provided to Date is the defined cost which the Contractor has paid plus fee.

And also states

(21) The prices are the amounts stated in the price column of the price list, if no price list included, the prices are the defined cost plus the fee

So my question would be do we multiply the man hours against agreed price list to come up with the valuation figure and not the actual cost?

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As it is a cost reimbursable contract, you are paid Defined Cost plus Fee i.e. as per clause 11.2 (18).