REG - National Grid PLC - Ofgem’s RIIO-ED2 Final Determination published

National GridAnnouncement

30/11/2022 07:15

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RNS Number : 0036I  National Grid PLC  30 November 2022

30 November 2022

 

Ofgem's RIIO-ED2 Final Determination published

 

Ofgem has today published its Final Determination for the RIIO-ED2 framework
covering our National Grid Electricity Distribution regulated businesses for
the period April 2023 to March 2028.

 

We will now review in detail the full package contained within the Final
Determination to see whether it incentivises sufficient investment to ensure
safe, secure and reliable supply of electricity alongside the need to help
transition to a low carbon domestic energy system, at the lowest cost to
customers.

 

We expect Ofgem to publish its statutory consultation on the proposed licence
modifications required to implement the Final Determination in December. The
consultation period will be followed by a period for Ofgem to consider
responses, at the end of which Ofgem will publish its decision to modify the
licences. Given the expected timeline, we anticipate that we will make a
decision on whether to accept or appeal the licence modifications by February
2023.

 

Enquiries and contacts

 

Investors and Analyst:

 

Nick Ashworth
                                   +44 (0)
7814 355 590

Angela Broad
            +44 (0) 7825 351 918

James Flanagan
+44 (0) 7970 778 952

Jonathan Clay
                                    +44 (0)
7899 928 247

 

Media:

 

Molly
Neal
+44 (0) 7583 102 727

Danielle Dominey-Kent                       +44 (0) 7812
485 153

 

 

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