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National Grid responds to Ofgem on RIIO-2 and HSB
National Grid responds to Ofgem on RIIO-2 and HSB.
About this update from National Grid Plc
[{"type":"text","content":"\n \nRNS Number : 1231W National Grid PLC 30 July 2018 \n\n \n \n \n \n \n30 July 2018 \nNational Grid plc\n \nOfgem's RIIO-2 Framework decision and decision on Hinkley\n \n \nOfgem today published its RIIO-2 Framework Decision. We are pleased that the decision provides further clarity on the length of the price control from April 2021 and continues to put consumers and other stakeholders in a central role in the process. We look forward to continuing to work constructively with Ofgem and other stakeholders over the coming months to achieve the best possible outcome for all stakeholders.\n \nSeparately, Ofgem has also published its final decision on the delivery model for the Hinkley-Seabank project (HSB) today, in which it chose the Competition Proxy model. \n \nOfgem's decision does not affect our commitment to delivering HSB to time and to quality as per our licence obligations.\n \nWe will now review the detailed decision by Ofgem and consider all of our options prior to Ofgem formally implementing the proposals into our licence later in the year or early 2019.\n \nThe HSB project is expected to have a total cost of around £650m, with the majority of forecast spend by National Grid Electricity Transmission plc in the RIIO-T2 price control period from April 2021 onwards.\n \n \n \nInvestors and Analysts\n \n\n\n\nAarti Singhal\n\n\n+44 (0)20 7004 3170\n\n\n+44 (0)7989 ...