We’re developing our next business plans against a background of rapid change in the energy industry. So it’s more important than ever to hear your views about our business planning activities.
Business planning in a changing energy landscape
The energy landscape is changing and placing new demands on our network. Offshore wind farms, solar panels, more electric vehicles and improvements in battery technologies mean that our network needs to adapt. And to do that, we need effective business plans.
Our next business plans
We’re currently preparing our next business plans for the period 2021-2026, which involves setting the standards of service we provide, the investments we make, how we’ll innovate for the future, and the performance outcomes upon which we’re measured.
We’re encouraging anyone that has an interest in what we do to get involved. We want to take account of a broad range of views about our changing industry and gain insight into what’s important to our stakeholders.
Independent stakeholder groups
In developing our plans, we’re also working with our new independently chaired stakeholder groups, whose role is to scrutinise our engagement approach and business plans. These groups provide challenge and feedback, ensuring our plans will achieve the right outcomes for our stakeholders who also include end-consumers.
Alongside this, Ofgem is creating a RIIO-2 challenge group to consider the affordability and sustainability of our plans.
The groups will each submit a report to Ofgem in addition to our own submissions. You can download the RIIO-2 Enhanced Stakeholder Engagement Guidance document from Ofgem’s website.
Business planning timeline and process
We are required to submit our final business plans to Ofgem by the end of 2019 for the next regulatory price control period (RIIO-2).
How we’re performing
We’re making excellent progress on our performance, but we still need to improve. We’re keen to improve the service that you deserve.
Find out how we’re doing on our RIIO-T1 incentive performance to date, including customer and stakeholder satisfaction, stakeholder engagement, the environment, and general performance.