logo
Plus   Neg
Share
Email

SSEN Transmission "Disappointed" By Ofgem's Draft Determination For RIIO-T2 Price Control

Scottish and Southern Electricity Networks Transmission or SSEN Transmission, the wholly-owned subsidiary of SSE plc (SSE.L), said it is "disappointed and deeply concerned" by the publication of Ofgem's Draft Determination for the RIIO-T2 price control period.

Based on an initial assessment, SSEN Transmission said it believes the approach set out in Ofgem's Draft Determination fundamentally fails to deliver on net zero, inadequately reflects stakeholder and customer needs, and falls short in seeking to attract the significant investment required.

Rob McDonald, Managing Director of Transmission, said, "At present the draft settlement does not strike the right balance for all stakeholders and without significant changes during the consultation period, there is a real risk that the critical investment in Britain's electricity networks will be unnecessarily slowed down by an appeal process via the CMA, which is not in any stakeholders' interests".

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Tailored Brands Inc., which owns menswear brands Men's Wearhouse and Jos. A. Bank, announced its emergence from Chapter 11 protection, eliminating $686 million of existing debt. The company has now completed its financial restructuring process and the implementation of the Plan of Reorganization confirmed by the U.S. Bankruptcy Court on November 13. The Federal Aviation Administration issued first airworthiness certificate for one of the new Boeing 737 Max jets on Monday since the aircraft was grounded worldwide in March 2019 following two crashes that killed 364 people, media reports quoting a FAA spokesman said. Amazon Web Services or AWS, the cloud division of Amazon, announced the launch of new virtual computing instances, known as EC2 Mac instances, for Apple app developers. The new Mac instances will help AWS users to run Apple's macOS operating system on Amazon Elastic Compute Cloud or Amazon EC2. EC2 Mac instances will allow customers to run on-demand macOS workloads in the AWS cloud.
RELATED NEWS
Follow RTT