UK Power Networks has accepted Ofgem’s final proposals for the RIIO-ED1 electricity price control for the next 8 years up to 2023. We will now set about implementing our business plan within this new financial framework. The final proposals are challenging and require us to make further efficiency savings against our business plan. Our electricity distribution charges represent around 16% of the electricity bill and will remain broadly flat before inflation until 2023.
Our plans ensure that UK Power Networks customers will benefit from further improvements in reliability and customer service, and our investment programme will deliver the required network capacity in our regions, which are the highest growth part of the UK.