Ofgem is consulting on the methodology they have proposed to use for the next five-year price controls for electricity distribution networks.
David Smith, Chief Executive of Energy Networks Association, which represents the UK and Ireland’s energy networks businesses, said:
“It is vital that the next regulatory period for the electricity distribution network companies creates the conditions to attract investment, deliver a green economic recovery, and ensure the public can benefit from a smarter, cleaner energy system.
“The public must be able to benefit from greater efficiencies as well as new services and products including increased numbers of electric vehicles and greater electrification of heating. Although the proposals outlined today will take time to review in detail, we will continue to work with Ofgem to make sure that this vital investment can be delivered, securing economic and societal benefits now as we look to recover from the effects of the pandemic.”
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.