Brexit makes running a price control review look like a walk in the park… To give you a welcome break from the Brexit rollercoaster, I thought you would like to know where we are with RIIO-T2 for the Gas and Electricity businesses. We have, today, submitted our second draft gas and electricity transmission RIIO-2 business […]
You will have seen that we submitted our draft RIIO-2 electricity transmission (ET) and gas transmission (GT) plans to Ofgem’s Challenge Group earlier this month, drawing on support from people across our organisation.
Over the past year, our gas and electricity transmission businesses has spent more time than ever engaging with our stakeholders; listening to their needs to feed into our plans.
Ofgem recently announced its decision to more than halve the returns that energy networks can earn; but a fair return for RIIO-T2 is higher than the current political and public narrative would have us believe.
Our work to pull together our RIIO-2 business plans for gas and electricity transmission is continuing at pace, as we get closer to Ofgem’s deadline for our first draft submission on 1 July.
Having just submitted our response to Ofgem’s consultation on the regulatory framework – which will apply to our core UK Gas and Electricity Transmission businesses from 2021 – I thought it timely to give you an update on RIIO-T2.
2019 is a huge year for RIIO-T2. By the summer Ofgem will have decided on key regulatory framework policies and methodologies, within which our core UK businesses will operate.
A number of our RIIO-T2 Electricity Transmission Stakeholder Members recently put on their PPE and headed to Wimbledon to learn more about our business.
It’s over 1300 days until the current RIIO deals conclude, so it’s easy to think that we can stop worrying about price control reviews and focus all of our attention on running the networks as safely and efficiently as possible.
February saw a number of important announcements and publications from Ofgem.