Frank Mitchell, SP Energy Networks CEO: Welcome to the RIIO-T2 pages of the website where you can find out all you need to know about how SP Energy Networks are preparing for the RIIO-T2 price control through our 2021 to 2026 Business Plan.
Since Ofgem issued its open letter to introduce the RIIO pricing framework process, we have undertaken significant research, planning and engagement to prepare for the next price control period, RIIO-T2, which will set allowed revenues until March 2026.
Facilitating GB’s low carbon transition and taking a whole systems approach to energy is certainly not a new intention or area of activity for SP Energy Networks. We have seen our service provision increasingly broaden in to industries such as heat and transport over a number of years, as related industries look to reduce greenhouse gas emissions through increased use of electric vehicles or smart space heating devices.
SP Energy Networks is proud to say that we came first across all transmission operators in Great Britain for Ofgem’s Stakeholder Engagement and Consumer Vulnerability incentive in 2017-2018. We are determined to maintain this strong track record by informing and consulting our customers and stakeholders on each part of our plan for the next price control period, RIIO 2. We have also enlisted the help of an independent TO User Group filled with a variety of external experts who represent our varied stakeholders and will provide challenges to our Business Plan. This group is independently chaired by the RT Hon. Charles Hendry, former Minister of State for Energy & Climate Change and we are delighted at the opportunity to have the input and feedback from such an experienced group.
With multiple opportunities and unprecedented changes on the horizon, SP Energy Networks know it is vital that we make every effort to continue to understand the needs of current and future network users, wider stakeholders and customers whilst always ensuring our networks are safe, reliable and cost effective. We are therefore committed to incorporating external feedback along with our considerable engineering knowledge and experience as network operators through our RIIO - 2 Transmission Business Plan.
I thoroughly hope that our stakeholders, customers and you take the opportunity to feed in to our RIIO-T2 plan as we all work together to facilitate a safe, sustainable, low carbon energy system for the benefit of current and future generations alike.