Introduction
The Scottish and UK Governments have set ambitious decarbonisation targets for Net Zero by 2045 and 2050 respectively and the next decade will be crucial in preparing the grid for the increase in electricity demand resulting from decarbonisation of society and the economy.
Our network will be crucial to the solutions needed to meet these targets and prevent runaway climate change. We plan collaboratively and strategically, for the future, to make sure our network plays its crucial role in the most cost-effective way.
The electricity sector is currently operating in the 'RIIO-2' delivery period which for electricity transmission network owners runs from 1 April 2021 to 31 March 2026 (RIIO-T2). View our RIIO-T2 Business Plan.
The next ‘RIIO-3’ delivery period for electricity transmission network owners will run from 1 April 2026 to 31 March 2031 (RIIO-T3). Ofgem published its Sector Specific Methodology Decision on 18 July 2024. Our plan for RIIO-T3 will be developed over this year with input from our stakeholders and will be published in December 2024.
Our RIIO-T3 Business Plan will set out proposed investment in the transmission network and other initiatives that will be key enablers to achieving government Net Zero ambitions. It will increase the security of supplies of energy, help to protect consumers from the dangers of climate change and will help generate growth, jobs and investment. The investment detailed in our Transmission Business Plan will be at an unprecedented scale to facilitate Net Zero.
Find out more about our Transmission Network.
Timeline
The journey of developing our RIIO-T3 Business Plan is well underway. Key milestones include:
Business Plan development and Stakeholder Engagement | Ongoing |
Ofgem Sector Specific Methodology Consultation (SSMC) | December 2023 to March 2024 |
Ofgem Sector Specific Methodology Decision (SSMD) | July 2024 |
RIIO-T3 Business Plan submission to Ofgem | 11 December 2024 |
Ofgem Call for Evidence window opens | 18 December 2024 |
Ofgem Call for Evidence window closes | 10 February 2025 |
Ofgem Draft Determination (DD) | Expected June/July 2025 |
Ofgem Final Determination (FD) | Expected Q4 2025 |
RIIO-T3 Business Plan delivery period begins | April 2026 |
RIIO-3 Sector Specific Methodology Consultation and Decision
On 6 March 2024, we submitted our comprehensive response to Ofgem's RIIO-3 Sector Specific Methodology Consultation (SSMC). On 18 July 2024, Ofgem published its Sector Specific Methodology Decision (SSMD), setting out the high-level regulatory framework and guiding the development of our RIIO-T3 Business Plan. Read our full statement on the SSMD.
Stakeholder Engagement
Throughout the development of our RIIO-T3 Business Plan, we will engage extensively to ensure the plan we produce fully recognises the requirements of our stakeholders and commands their support.
There will be a variety of engagement opportunities including surveys, webinars and events. If you are interested in our services and projects, if our work has the potential to impact you, or if you have an influence over the work we do, then you are a stakeholder. We want to know your views on our plans, so that we can deliver the best service possible.
Complete this online form to register as a stakeholder.
Independent Net Zero Advisory Council (INZAC)
As part of the RIIO-3 Enhanced Engagement Framework, networks must have an Independent Stakeholder Group (ISG) in place to provide scrutiny in development of the RIIO-T3 Business Plan.
We have established an Independent Net Zero Advisory Council (INZAC), which will have a vital part to play in the development of our RIIO-T3 Business Plan, scrutinising both the technical plans as well as ensuring any emerging customer issues are fully considered.
Contact us
If you have any enquiries about our RIIO-T3 Business Plan, please email us on riio-t3pmo@spenergynetworks.co.uk