Britain’s energy regulator Ofgem Tuesday published initial proposals for revenues it will allow the four energy transmission companies to recover from consumers from April 1, 2012 to March 31, 2013 under the one-year extension to the existing price control.
The proposals come as Ofgem prepares to implement the new RIIO price regime designed to deliver GBP30 billion investment in low-carbon energy infrastructure at lowest cost to consumers as Britain moves to meet climate targets and goals.
Ofgem is extending the current transmission price control by one year so that it finishes at the same time as the 2008 to 2013 gas distribution price control.
The regulator decided to align the end dates of the two price controls so that it can implement the new RIIO model for regulating networks into the next transmission and gas distribution price controls at the same time.
The new RIIO price control will run for eight years from 2013 to 2021.