Ofgem’s RIIO-2 Draft Determinations risk system reliability and will result in missing 2030 targets according to Scottish and Southern Energy Networks (SSEN) Transmission, with ScottishPower Energy Networks (SPEN) also wading in to brand the proposals “unacceptable”.
Current 7th Sept 2020 read more »
The boss of National Grid has slammed the energy watchdog over its decision to curb how much it is allowed to make in profits and invest, warning that the UK could experience blackouts as a result. John Pettigrew, chief executive of National Grid, said Ofgem’s current draft determinations were “unacceptable”. A battle is brewing between the regulator and energy companies after Ofgem announced it would halve the profits which they are permitted to make in order to save money for consumers, shaving £20 a year off the average household bill. The proposals – announced as part of Ofgem’s latest five-year plan for the industry – have sparked claims that companies will be so tightly squeezed there is no money left for investment in infrastructure.
Telegraph 7th Sept 2020 read more »
It’s not often that National Grid invokes the spectre of blackouts. So when John Pettigrew, boss of the company tasked with keeping Britain’s lights on, told The Times last week that Ofgem’s plans to curb its spending raised the risk of power cuts, it caused quite a stir. “Networks starting to throw the kitchen sink at this one,” tweeted one industry wag. “First it was killing net zero, now RIIO-2 will cause blackouts and job losses. Famine and plague to follow.”
Times 8th Sept 2020 read more »