REG - SSE Plc - SSE Response to Ofgem RIIO-ED2 Draft Determination

SSEAnnouncement

29/06/2022 07:45

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RNS Number : 6032Q  SSE PLC  29 June 2022

SSE RESPONSE TO OFGEM RIIO-ED2 DRAFT DETERMINATION

Scottish and Southern Electricity Networks Distribution (SSEN Distribution),
part of the SSE Group, notes today's publication of Ofgem's Draft
Determination on its business plan for the RIIO-ED2 price control period.

Ofgem's initial determination is tough and stretching, and while it represents
an increase of 18% on SSEN Distribution's equivalent allowances in RIIO-ED1
and recognises the innovation proposed through additional Customer Value
Propositions, work is required to ensure the final settlement fully reflects
customer and stakeholder needs.

This includes further refinement to properly allow for the necessary delivery
of improvements in infrastructure and the deployment of technologies required
to reach net zero and build network resilience in the context of climate
change.  SSEN Distribution also notes the proposed allowed cost of capital
which it will continue to review against the context of prevailing market
conditions.

This is the first step in the determination process and SSEN Distribution will
now take time to review the full detail of the Draft Determination and
constructively engage with Ofgem to ensure a progressive conclusion is reached
in the interest of customers and other stakeholders at Final Determination
later this year.

SSEN Distribution's RIIO-ED2 business plan has been co-created with over
25,000 stakeholders in SSE's largest ever engagement exercise. It is
underpinned by extensive and robust evidence supporting the investment to
deliver a network ready for net zero, drive progressive technological change
and improve network resilience, with no planned increases to network charges
on consumer bills.

 

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