Ofgem
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Ofgem Consults On Significant Upgrade Of Scotland’s High Voltage Network
Ofgem is yesterday consulting on proposals which include £2.9bn of investment with up to a further £4.7bn available over the course of the price control period (April 1 2013 – 2021). The investment is part of Ofgem’s decision for SP Transmission Ltd (SPTL) and Scottish Hydro Electric Transmission Ltd (SHETL) to be the first companies fast-tracked under the new RIIO price control framework.
Alistair Buchanan, Chief Executive Officer at Ofgem stated that: "Today is a very significant moment for three reasons. Firstly, it forms a key part of implementing the £200bn investment identified in Project Discovery to protect our security of supply. Secondly, the upgraded network will greatly assist connections to renewable generators. Finally, our brand new RIIO model to setting price controls shows how we are cutting red tape."
Yesterday’s announcement provides good value for consumers, delivering essential upgrades to Scotland’s transmission network at the lowest cost to consumers. Ofgem estimates the cost to consumers’ bills is 35 pence a year over the eight-year period of the price control, 2013 – 2021.
Click here for full press release
