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Our RIIO-T2 Business Plan

Frank Mitchell, SP Energy Networks CEO:  Our Draft RIIO-T2 business investment plans.

SP Transmission is proud to publish its detailed Draft RIIO 2021 to 2026 Transmission Business Plan that will help facilitate the energy sector transition across central, southern Scotland and Great Britain in the context of a Scottish and UK-wide shift towards net zero carbon emissions by 2045 and 2050 respectively.

#ChallengeOurPlan

In this rapidly changing energy landscape, your views and input are especially important. Read our Draft ‘RIIO-T2’ Business Plan by clicking on the link below and be sure to provide us with any thoughts and feedback via our RIIO-T2 mailbox.

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SP Energy Networks RIIO-T2 Business Plan

Our Draft Plan - 1st July 2019

Read our draft plan Submission

Investment Overview

Building on a solid track record of delivery in RIIO-T1, our continuing priority is to create a better future, quicker for our customers and stakeholders, our environment, and for all electricity bill-payers across Britain. Urgent action is needed to across all sectors to mitigate the impacts of a global climate change emergency. The transmission network investment outlined in our plan facilitates the electricity sectors’ contribution to climate change prevention by readying our network for more renewables, the electrification of heat and transport, cost-saving innovation and local energy solutions for both central and Southern Scotland and Britain as a whole.

To achieve our goals, we plan to invest around £1.4bn in the RIIO-T2 Price Control from 2021 to 2026. This vital investment will allow a further 1GW of renewable energy to connect on to our electricity networks and ensures our infrastructure (such as electricity towers, overhead wires and underground cables) can adapt to meet the changing demands being placed on the system as both the Scottish and UK Governments prepare for the transition to Net Zero.  Fundamentally, our plan also guarantees that electricity users across Britain continue to receive a safe, reliable and efficient supply of electricity.

Our July draft RIIO-T2 Business Plan has been created in close consultation with our customers, stakeholders and independent RIIO-T2 User Group. It reflects a mindful approach to the balance needed between the investment required to maintain stakeholder funding and investment (necessary to balance out the peaks in funding required during times of intense infrastructure upgrade and/or replacement) and the cost to the current consumer bills.  This is especially the case now as, GB-wide, areas of ageing electricity network reaches end-of-life at the same time as it needs to be upgraded or swapped out for more environmentally sustainable and innovative infrastructure.

Ensuring stakeholder investment means that we can continue to spread the costs of investment across decades rather than years and socialise the cost of a net zero network across the generations – rather than expecting current bill-payers to foot the full bill now.

What does this mean for GB electricity bill payers?

Our share of a typical electricity bill will average £4.99 per annum in RIIO-T2. Compared to the final year of RIIO-T1 (2019/2020), this is an increase of 36p for the average annual bill .

Continue to #ChallengeOurPlan

Over the last year, customers and stakeholders have played a critical role in shaping and challenging our draft Business Plan and we will continue to engage with you over the next few months, as we further refine our investment decisions ahead of submitting our final, RIIO-T2 Business Plan to the regulator, Ofgem. 

Continue to have your say by visiting the #ChallengeOurPlan section of our website


If you would like to be kept up-to-date with the latest information and our planned activities regarding RIIO-T2, you can register as a stakeholder and join our stakeholder online community. We also welcome your thoughts and feedback via our RIIO-T2 mailbox.

 
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