National Grid PLC RIIO-ED2 price control draft determinations (5537Q)
June 29 2022 - 2:10AM
UK Regulatory
TIDMNG.
RNS Number : 5537Q
National Grid PLC
29 June 2022
29 June 2022
National Grid plc
RIIO-ED2 price control draft determinations published
As part of its process for setting new price controls for
electricity distribution companies, Ofgem has today published its
draft determinations for RIIO-ED2 which will cover UK Electricity
Distribution for the period from April 2023 to March 2028.
These draft determinations are the next step along the process
towards agreeing a regulatory framework that will enable the
delivery of critical investment required to maintain the UK's
progress to net zero, and follows the submission of our final
business plan in December 2021. Against a backdrop of higher living
costs for consumers, our plan set out our ambition to increase
total investment levels, whilst delivering efficiencies, and
keeping customer bills broadly flat in real terms, after adjusting
for the move to CPIH.
We are working through the detail of these draft determinations,
in particular the proposed reduction in totex across each operating
company. As we move towards final determinations, we will work hard
with Ofgem to ensure we agree a price control that meets the
outcomes our customers have asked of us, including resilient and
reliable networks, as well as enabling the transition to net zero.
Final determinations are expected in December.
Enquiries:
Investors and Analysts
+44 (0) 7814 355
Nick Ashworth 590
+44 (0) 7825 351
Angela Broad 918
+44 (0) 7970 778
James Flanagan 952
+44 (0) 7899 928
Jonathan Clay 247
Media
+44 (0) 7583 102
M olly Neal 727
+44 (0) 7977 054
D anielle Dominey-Kent 575
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