REG - National Grid PLC - RIIO-ED2 price control draft determinations

National GridAnnouncement

29/06/2022 07:16

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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

 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) 7977 054 575

 

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