- Ofgem unveils initial five-year vision for building sustainable and affordable regional energy grids, supporting a low carbon, cheaper future for the UK
- The 2023 to 2028 plan will boost grid capacity, improve customer service and resilience to prevent power outages, and prepare the way for increases in the generation of cheaper, greener, home-grown energy to bring down bills in the long-term
- Increased investment for net zero to be delivered without increasing network charges on consumer bills, achieved through tough efficiency challenges on network companies and lower returns for investors
- Most consumers could see a small drop in costs related to network charges
Ofgem has today set out a landmark five-year vision to transform local energy grids to support the transition to a cleaner, affordable, home-grown low-carbon energy system, as part of its draft plans for the next electricity distribution price control (known as RIIO-ED2).
RIIO-ED2 Draft Determinations: www.ofgem.gov.uk/publications/riio-ed2-draft-determinations