EXTENSION OF ENERGY TRANSMISSION PRICE CONTROL (5285L)
02 Agosto 2011 - 1:00AM
UK Regulatory
TIDMZZZZ TIDM35DT TIDM46QK TIDM41JI TIDMBS80
RNS Number : 5285L
OFGEM
02 August 2011
Information Note
2 August 2011
INITIAL PROPOSALS FOR EXTENSION OF ENERGY TRANSMISSION PRICE
CONTROL
Energy regulator Ofgem has today published initial proposals for
the revenues it will allow the four energy transmission companies
to recover from consumers in the year from 1 April 2012 to 31 March
2013, under the one-year extension to the existing price
control.
The current transmission price control runs from 1 April 2007 to
31 March 2012. It is to be extended by one year so that it finishes
at the same time as the 2008-2013 gas distribution price
control.
Ofgem decided to align the end dates of the two controls so that
it can implement its new RIIO (revenue =
incentives+innovation+outputs) model for regulating networks into
the next transmission and gas distribution price controls at the
same time. RIIO is designed to drive real benefits for consumers,
providing companies with strong incentives to meet the challenges
of delivering a sustainable energy sector at a lower cost than
under our previous approach. RIIO puts sustainability alongside
consumers at the heart of what network companies do. One feature of
the RIIO model is longer-term price controls. This means that the
next price controls for the gas distribution and energy
transmission companies will run from 2013 to 2021.
The initial proposals consultation can be found here:
http://www.ofgem.gov.uk/Networks/Trans/PriceControls/TPCR4Roll-over/Page
s/TPCR4Roll-over.aspx
-ends-
Notes to editors
1. The transmission price control relates to the four companies
that own the high pressure gas mains and the high voltage power
networks. These companies are: National Grid Gas, National Grid
Electricity Transmission plc, Scottish Power Transmission Limited,
and Scottish Hydro-Electric Transmission Limited.
2. Ofgem is the Office of the Gas and Electricity Markets, which
supports the Gas and Electricity Markets Authority, the regulator
of the gas and electricity industries in Great Britain. The
Authority's powers and duties are largely provided for in statute,
principally the Gas Act 1986, the Electricity Act 1989, the
Utilities Act 2000, the Competition Act 1998, the Enterprise Act
2002, the Energy Act 2004 as well as arising from directly
effective European Community legislation.
For further press information contact:
Chris Lock: 020 7901 7225
Alison Wright: 020 7901 7217
Out of Hours: 07766 511470
This information is provided by RNS
The company news service from the London Stock Exchange
END
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