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OFGEM PUBLISHES FINAL PROPOSALS FOR SCOTTISH POWER AND SSE AS PART OF RIIO-T1 PRICE CONTROL
Ofgem has today published the RIIO–Transmission (RIIO-T1) Final Proposals for the two fast tracked companies, Scottish Power (SPTL) and SSE (SHETL). As part of the price controls, over £7bn has been earmarked for Scotland’s high voltage network, delivering much needed investment to replace ageing infrastructure and enabling greater connections to renewable generators. These controls will start from 1 April 2013 and run until 2021.
This is the first price control to be completed under the new RIIO framework (Revenue=Incentives+Innovation+Outputs). This new framework incentivises companies to meet environmental targets and secure energy supplies, while delivering long-term value for money for consumers. RIIO also puts in place greater incentives and penalties to stimulate greater efficiency and innovation from companies.
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