Business
CMA final determination for RIIO-2 appeals
CMA final determination for RIIO-2 appeals.
About this update from National Grid Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 4982Q\n National Grid PLC\n 28 October 2021\n \n \n \n \n \n \n \n \n \n \n 28 October 2021\n \n \n \n \n \n National Grid plc\n \n \n \n \n \n CMA publishes final determination for the RIIO-2 price control appeals\n \n \n \n \n \n The CMA has published its final determination in relation to the RIIO-2 price control appeals this morning. \n \n \n \n \n \n We are pleased that, in line with its preliminary determination in August, the CMA has found in favour of the technical arguments on the outperformance wedge and that it has therefore directed Ofgem to remove the outperformance wedge from the price control. We are disappointed that the CMA has not found in favour on the cost of equity. We will review the detailed documents to understand the CMA's rationale for this final determination, which we expect to be published next week. \n \n \n \n \n \n We anticipate that revenues will be increased from 2022/23 onwards to reflect the CMA's decision to remove the outperformance wedge. \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n CONTACTS\n \n \n \n \n \n Investors and Analysts\n \n \n \n \n \n \n \n \n Nick Ashworth\n \n \n \n \n +44 (0) 7814 355 590 \n \n \n \n \n \n \n Angela Broad\n \n \n James Flanagan\n \n \n \n \n +44 (0) 7825 351 918\n \n \n +44 (0) 7970 778 952 \n \n \n \n \n \n \n Jonathan Clay\n \n \n \n \n +44 (0) 7899 928 247 \n \n \n \n \n \n \n \n \n Media\n \n \n \n \n \n Molly Neal\n \n \n Surinder Sian\n \n \n \n \n +44 (0) 7583 102 727\n \n \n +44 (0) 7812 485 153\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n CAUTIONARY STATEMENT\n \n \n \n \n \n \n This announcement contains certain statements that are neither reported financial results nor other historical information. These statements are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include information with respect to National Grid's (the Company) financial condition, its results of operations and businesses, strategy, plans and objectives. Words such as 'aims', 'anticipates', 'expects', 'should', 'intends', 'plans', 'believes', 'outlook', 'seeks', 'estim...