price controls
The next electricity distribution price control will start on April 2023 and run to March 2028
David Smith, CEO of the ENA said: ‘Achieving net zero emissions requires sustained investment, innovation and a supportive and forward-looking regulatory regime’
Approximately £30bn will help establish a ‘stronger, greener and fairer GB energy system’, while more than £10m will be held on standby to pay for future green energy projects
Last December, the regulator said water companies across England and Wales must cut their bills by 12% before 2025
The National Audit Office found households across Britain have paid at least £800m more because of weaker price controls set by the regulator
National Grid is ‘disappointed’ with the proposals and the Energy Networks Association says they will have ‘damaging impacts’
The energy regulator has made a series of adjustments to the revenue it allows networks to collect
It is for the next price controls set by Ofgem on how much the firms can charge for running the gas and electricity transmission and distribution networks
It is expected to deliver savings worth more than £5bn for consumers
The price controls will come into force in 2021 and are also expected to significantly reduce the profits made by network companies