Ofgem statement on CMA provisional findings on 2021 energy networks price controls appeals (RIIO-2)
Press release
- Publication date
- Industry sector
- Distribution Network
- Transmission Network
Ofgem’s Chief Executive Jonathan Brearley, welcomed the Competition and Market Authority's provisional findings for the RIIO-2 energy network price controls for electricity transmission, gas transmission and gas distribution:
“Ofgem is fully focussed on keeping bills as low as possible for customers while supporting investment to net zero greenhouse gas emissions.
"We welcome today’s provisional announcement by the CMA as an important step forward towards this goal. The CMA has found in favour of Ofgem on most grounds of appeal, including the reduction in returns for investors.
"We will continue to engage with the CMA to finalise these price controls, and look forward to working with the industry to deliver efficient investment which will benefit both consumers and the planet.”
1. This statement is in response to the summary outlines of the Competition and Markets Authority provisional determination of the appeals that the CMA received in respect of GEMA's decisions on the RIIO-2 price controls for electricity transmission, gas transmission and gas distribution, published today.
Contact
Ruth Somerville
Ofgem
020 7901 7460
07990 139504
ruth.somerville@ofgem.gov.uk
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