Ofgem have today released their Final Determination on our RIIO-T2 Business Plan, due to take effect on 1 April 2021.
Commenting on the release of the determination our CEO, Frank Mitchell, said: “This is a large and complex document and we will now take our time to analyse it in full and consider our next steps.
“We remain concerned that Ofgem’s proposals on the headline rate of return will not attract the global investment our transmission business requires if we are to support the clear Net Zero ambitions of the UK and Scottish Governments, including the Prime Minister’s Ten Point Plan.”
We expect to receive Ofgem’s statutory licence consultation for RIIO-T2 shortly and will provide a full response in mid-January.
You can read more about our RIIO-T2 plans here.