Scotland Gas Networks PLC RIIO-GD2 Final Determination (0819R)
04 3월 2021 - 1:30AM
UK Regulatory
TIDM71ZU
RNS Number : 0819R
Scotland Gas Networks PLC
03 March 2021
RNS STATEMENT
SCOTLAND GAS NETWORKS PLC (the "Issuer")
(LEGAL IDENTIFIER NUMBER: 549300Y7M5CC1U5DBX07)
RIIO-GD2 Final Determination
3 March 2021
Decision by the Board to refer its RIIO-GD2 Final Determination
to the Competition and Markets Authority (CMA)
The Issuer and Southern Gas Networks plc have today released the
following statement:
The Board of directors of the Issuer and Southern Gas Networks
plc (together "SGN") will refer elements of the RIIO-GD2 process to
the CMA. SGN's licence modification was published by Ofgem on 3
February 2021 and was based on Ofgem's Final Determination
published on 8 December 2020.
SGN is an award-winning gas network company with a strong
track-record of delivering a safe and efficient supply of natural
and green gas to 5.9 million customers. For the five-year
regulatory period covering 2021-2026, SGN formulated a
comprehensive and robust business plan which carefully reflected
the views of many stakeholders and customers, while preparing a
decarbonised gas network for the future.
SGN has identified a number of technical issues in Ofgem's Final
Determination and, as a result, has referred these to the CMA.
Specifically, SGN has decided to appeal on cost of equity,
outperformance wedge and certain aspects of Ofgem's efficiency
methodology.
Subject to the CMA granting permission to appeal, the process is
expected to take until Autumn 2021 to reach a conclusion.
While the CMA process is ongoing, SGN remains committed to
delivering operational excellence and outstanding service for all
our customers. SGN will continue to work constructively with Ofgem
and the UK and Scottish governments to help meet net-zero targets
through our pioneering decarbonisation programme.
Ends
Contacts
SGN Press Office: 0845 070 1811
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END
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