Some of Britain’s energy companies have appealed Ofgem’s RIIO-2 Final Determination with the Competition and Markets Authority (CMA).
An appeal to the CMA is the final step in the regulatory process which allows an independent, fair and transparent assessment of the position set out by the regulator and the network companies.
Ross Easton, Director of External Affairs at Energy Networks Association which represents Great Britain's energy network operators, said:
“The UK’s energy network operators remain focused on providing a low cost, Net Zero energy system to the public. To deliver this, it is essential that the regulatory environment is attractive to the significant investment the country needs over the coming years.”
Notes to editors
Ofgem's Final Determination for Transmission and Gas Distribution network companies and the Electricity System Operator was published on 8 December 2020.
The price control known as RIIO-2 ensures network operators have enough revenue to run an efficient network that delivers what customers need, while investing to deliver the infrastructure needed for a Net Zero future. It stands for Revenues = Incentives + Innovation + Outputs.
For the transmission and gas distribution networks and system operator, RIIO-2 will come into effect next month and runs for five years until 2026.
Find out more about how the networks are helping to deliver Net Zero.
About Energy Networks Association
We’re the industry body for the energy networks. Our members own and operate the wires and pipes which carry electricity and gas into your community, supporting our economy. The wires and pipes are the arteries of our economy, delivering energy to over 30 million homes and businesses across the UK and Ireland. To do this safely and reliably, the businesses which run the networks employ 45,000 people and have spent and invested over £60 billion in the last eight years.
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