David Smith, Chief Executive of Energy Networks Association responds to Ofgem’s settlements for the RIIO-2 price control period.
Ofgem has published their settlements for the next network price control, known as RIIO-2. For the transmission and gas distribution networks and system operator, RIIO-2 will come into effect next year and run for five years until 2026.
Speaking on behalf of electricity transmission and gas network operators, David Smith, Chief Executive of Energy Networks Association said:
“Delivering the Prime Minister's Ten Point Plan for a Green Industrial Revolution, keeping energy flowing to homes and businesses, and achieving Net Zero emissions requires sustained investment, innovation and a supportive and forward-looking regulatory regime. We will be studying the detail of Ofgem's determination over the coming weeks to ensure it stands up to these challenges."
Notes to editor
As lockdown measures ease, the energy networks are well placed to support the UK’s economic recovery. Employing around 36,000 people in Great Britain and supporting vast supply chains across the country, the benefits of expenditure and investment by the networks is far-reaching.
National Grid predicts around 400,000 jobs in the energy sector will be needed between now and 2050 to deliver the net zero target. Of this, 260,000 will be in new roles, while 140,000 will be replacing those who have left the workforce.
The UK’s energy networks have already facilitated the connection of over 30GW of renewable generation in the past ten years and are undertaking projects which are set to create the world’s first zero-carbon gas grid and a move to even smarter energy grids.
About Energy Networks Association
Energy Networks Association (ENA) is the industry body representing the electricity wires, gas pipes and energy system in the UK and Ireland.
ENA helps its members meet the challenge of delivering electricity and gas to communities across the UK and Ireland safely, sustainably and reliably.
Its members include every major electricity and gas network operator in the UK and Ireland, independent operators, National Grid ESO which operates the electricity system in Great Britain and National Grid Gas which operates the gas system in Great Britain. Its affiliate membership also includes companies with an interest in energy, including Heathrow Airport and Network Rail.
What are energy network operators?
Energy network operators manage and maintain the wires, pipes and other infrastructure which delivers electricity and gas to your home, business and community. They are private companies which are regulated by Ofgem and employ around 40,000 people in Great Britain.