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National Grid "extremely Disappointed" With Ofgem's Draft Determination For RIIO-T2

National Grid plc (NG.L,NGG) said it is "extremely disappointed" with the Ofgem's Draft Determination for RIIO-T2, which risks undermining the process established by Ofgem.

As part of the ongoing process towards agreeing a settlement for RIIO-T2, Ofgem has today
published its draft determination, which covers National Grid's UK Electricity and Gas Transmission businesses, and the Electricity System Operator.

National Grid noted that this follows the submission of its final business plans in December, which were formulated after taking into account the views of the company's stakeholders following its largest ever stakeholder engagement exercise.

Ahead of the final determinations which are expected in December, National Grid said it would insist Ofgem to "come forward with a regulatory framework that both incentivizes investment and protects consumers."

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