The text below is the transcript from the RIIO-T2 Business Plan Launch video.
Video title: RIIO-T2 Business Plan Launch video
We work hard to keep Britain running smoothly every day.
We look after the electricity wires and cables that power you to do your thing...what-ever the weather.
In fact, shining a light on tricky situations - is nothing new for us.
And that’s no different when it comes to lighting the way to a decarbonised future in the face of the climate crisis
The Scottish and UK Government have set legally-binding Net Zero targets by for 2045 and 2050.
Our network will be crucial to the solutions needed to meet these targets and prevent runaway climate change.
To make sure our network plays its crucial role in the most cost-effective way, we plan collaboratively and strategically for the future today.
Our latest Business Plan sets out our steps towards the net zero future
We'll be investing around £1.4 billion pounds in our Transmission Network between the years 2021 and 2026 to fight the climate emergency and facilitate the urgent technological and behavioural changes needed to guarantee a healthier, greener and more prosperous future for all.
(short pause) Our investment decisions have been driven by 4 key values.
1.Keeping consumers, network users and wider stakeholders at the heart of all of our investment plans and decisions.
This means championing local ambitions by co-creating and delivering our plans with all of our stakeholders through meaningful engagement.
As part of this aim, we established an independent User Group of experts who represented consumers, network users and wider stakeholders and formally examined all of our plans on their behalf as we were writing them.
2.Delivering the benefits of increased cost-efficiencies by continually innovating and applying whole system solutions.
Through robust, cost-benefit analysis we make sure our plans are as cost-efficient as possible while maximising the financial, environmental and social benefits from a decarbonised future for everyone.
For the average household, our net zero plans will cost less than five pounds per year.
We also plan to increase support to vulnerable consumers and their local communities so they are equally well-informed and better able to share in the benefits of a Net Zero future.
Our goal is a just transition to a decarbonised world, making sure no one is left behind.
1.Taking a leading role in delivering a Net Zero future that is consistent with government objectives.
With the world in a state of climate emergency, we are committed to speeding up the transition to a cleaner future.
As a Company we are bringing decades of knowledge and experience and collaborating with partners across industry to create and enable real solutions, now.
This also means harnessing opportunities with new partners – like technology developers and local community groups - to unlock local-innovation solutions and maximise the potential benefits for everyone.
Maintaining world-leading resilience and system operability to ensure the security of your electricity supplies throughout the transition to Net Zero
No matter what the future holds, we are committed to maintaining a network reliability of 99.99% so you have the power to do what you need to do.
We are investing in our existing network and infrastructure – originally built many decades ago – in the most cost-efficient way to make sure it can support the rapid increase of renewables and clean technologies needed.
We already have 4,700 MW of renewables directly connected to our transmission network.
And our latest Transmission Business plans will facilitate the connection of at least another 900MW more.
That's the equivalent of powering 1.5million homes and saving 1.6 million tonnes of CO2 per year.
Our world is undoubtedly in crisis right now, but we are committed to setting a route to a healthier, greener and more prosperous future and supporting day-to-day life across Britain in the most sustainable way.
Our world is undoubtedly in crisis right now, but we are committed to setting a route to a healthier, greener and more prosperous future and supporting day-to-day life across Britain in the most sustainable way.
To find out more, visit our website or search for the hashtag #ChallengeOurPlan to see just how our 2021 to 2026 Business Plan is providing the practical solutions needed to speed up the low carbon transition and drive forward a BETTER FUTURE, QUICKER for everyone
Continue to have your say via: Riio_T2@spenergynetworks.co.uk
#ChallengeOurPlan
To read the full report visit our website.