SSE PLC SSE Response to Ofgem RIIO-ED2 Draft Determination (6032Q)
June 29 2022 - 2:42AM
UK Regulatory
TIDMSSE
RNS Number : 6032Q
SSE PLC
29 June 2022
SSE RESPONSE TO OFGEM RIIO-ED2 DRAFT DETERMINATION
Scottish and Southern Electricity Networks Distribution (SSEN
Distribution), part of the SSE Group, notes today's publication of
Ofgem's Draft Determination on its business plan for the RIIO-ED2
price control period.
Ofgem's initial determination is tough and stretching, and while
it represents an increase of 18% on SSEN Distribution's equivalent
allowances in RIIO-ED1 and recognises the innovation proposed
through additional Customer Value Propositions, work is required to
ensure the final settlement fully reflects customer and stakeholder
needs.
This includes further refinement to properly allow for the
necessary delivery of improvements in infrastructure and the
deployment of technologies required to reach net zero and build
network resilience in the context of climate change. SSEN
Distribution also notes the proposed allowed cost of capital which
it will continue to review against the context of prevailing market
conditions.
This is the first step in the determination process and SSEN
Distribution will now take time to review the full detail of the
Draft Determination and constructively engage with Ofgem to ensure
a progressive conclusion is reached in the interest of customers
and other stakeholders at Final Determination later this year.
SSEN Distribution's RIIO-ED2 business plan has been co-created
with over 25,000 stakeholders in SSE's largest ever engagement
exercise. It is underpinned by extensive and robust evidence
supporting the investment to deliver a network ready for net zero,
drive progressive technological change and improve network
resilience, with no planned increases to network charges on
consumer bills.
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