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Ofgem's RIIO-2 sector specific consultation update
Ofgem's RIIO-2 sector specific consultation update.
About this update from National Grid Plc
[{"type":"text","content":"\n \nRNS Number : 1038A National Grid PLC 24 May 2019 \n\n \n24 May 2019\n \nOfgem's RIIO-2 sector specific consultation update\nOfgem today published a detailed update following the RIIO-2 sector specific consultation that concluded in March. Today's publications are a step in the regulatory process for the new price control that will start in 2021, with final determinations on all key financial elements expected in November 2020. \n \nOfgem has published several comprehensive documents this morning which we will be reviewing in detail. Initially, we are pleased that Ofgem has refined their approach to incentives, including the option to allow bespoke Output Delivery Incentives.\n \nOn cost of equity, we recognise Ofgem has made some corrections to its calculations and continues to consult on the outperformance wedge. We remain disappointed with the proposed range, which we believe does not fairly reflect the level of risk borne by networks. In the context of the role that networks will play in enabling the transition to a more efficient and decarbonised energy system, we believe this is not in the long-term interests of consumers.\n \nWe will continue to engage constructively with Ofgem to reach an appropriate RIIO-2 outcome for the benefit of all stakeholders.\n \n \n \n\n\n\n\nInvestors and Analysts \n \nWill Jackson\n \nTom Edwards\n \n \n\n\n \n \n+44 (0) 20 7004 3166 (d) \n \n+44 (0) 20 7004 3460 (d)\n \n \n\n\n \n \n+44 (0) 7584 206 578 (m)\n \n+44 (0) 7976 962 791 (m)\n \n \n\n\n\n\nMedia\n \nSean Kemp\n\n\n \n \n+44 (0) 7960 012356 (m)\n \n\n\n \n\n\n\n\n \n\n\nCAUTIONARY STATEMENT \nThis 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...