OFGEM Mid-period review into network price controls (9903X)
12 Mayo 2016 - 1:00AM
UK Regulatory
TIDM46QK TIDM82HZ
RNS Number : 9903X
OFGEM
12 May 2016
12 May 2016
Ofgem opens mid-period review into price controls for National
Grid Electricity Transmission and National Grid Gas
Transmission.
Ofgem set the price controls for energy transmission and gas
distribution in 2013. As part of this, provision was made for a
mid-period review of the outputs companies have to deliver for
customers if there were material changes in Government policy, or
changes in the needs of consumers and network users. A mid-period
review is not intended to re-open the price control (for example
change key financial aspects such as the allowed cost of
capital).
Following our consultation in November, Ofgem has today decided
to launch a mid-period review into the 2013-2021 price controls
which will be limited to National Grid Electricity Transmission and
National Grid Gas Transmission.
Ofgem will consult on proposals for any changes to outputs and
associated revenues this summer. A decision on the proposals will
be made in late autumn 2016. Any changes would take effect from 1
April 2017.
Ofgem has not identified any issues to justify a mid-period
review for the 2013-2021 electricity transmission price controls of
SP Transmission and Scottish Hydro Electric Transmission, or for
the 2013-2021 gas distribution price control.
We are also taking forward parallel work which will seek to
ensure more effective output accountability of network
companies.
-ends-
Notes to editors:
Ofgem's decision document on the mid period review launch
published today is here:
https://www.ofgem.gov.uk/network-regulation-riio-model/riio-mid-period-review-riio-t1-and-gd1
Ofgem's November 2015 consultation on the potential for a
mid-period review is here:
https://www.ofgem.gov.uk/sites/default/files/docs/2015/11/151112_mpr_consultation_document_final.pdf
For further press information contact:
Chris Lock: 020 7901 7225
Out of hours: 07766 511470
This information is provided by RNS
The company news service from the London Stock Exchange
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