RIIO–ED2 price control draft determinations published

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.

Basil Scarsella, chief executive of UK Power Networks, said: “We welcome today’s draft determination which challenges us to ensure that our network is able to accommodate the transition to a net zero economy at the lowest overall cost to customers and support those most vulnerable. We believe that we have an ambitious business plan, to deliver a 15% real terms reduction in our part of the energy bill, while enabling increasing numbers of Electric Vehicles and heat pumps ensuring nobody is left behind in the energy transition.

“There are still a number of details to resolve, such as the design of uncertainty mechanisms and the additional investment associated with Ofgem’s proposed access and charging reforms, so that we are able to invest at a pace to match the journey to net zero that our customers and communities wish to take. We look forward to working constructively with Ofgem to finalise these details and bring our plan to fruition.”

You can read more about our Business Plan here

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