| |
| Please Note - Streaming News is only available to subscribers to the Active Level and above |
|
|
|
SSE offers mixed response to Ofgem's new UK regulatory framework
StockMarketWire.com
|
Power utility SSE gave a mixed response to a new regulatory framework proposed by Ofgem for utility price controls.
SSE said that following an initial review of Ofgem's final determinations for the RIIO-T2 price control, it welcomed a positive movement in total expenditure (Totex) to £2.16 billion.
'Further work is required to assess whether this level of Totex is commensurate with delivering the outputs stakeholders demanded and the investment required to deliver governments' net zero targets,' SSE said.
However, the company said it was 'very disappointed' with Ofgem's setting of the financial parameters for RIIO-T2, which it said it had expected to be at least in line with provisional findings released by Britain's Competition and Markets Authority.
'We were greatly encouraged by the broad support for our stakeholder-led business plan throughout Ofgem's consultative process and cautiously welcome Ofgem's movement on a number of fronts,' Rob McDonald, the head of SSE's transmission business, said.
'However, at this stage in our assessment, we continue to have concerns and will need to reflect further as we review and analyse the full settlement in the round over the coming weeks.'
'In doing so, we will work constructively with Ofgem and other stakeholders as we consider our options and remain ready to invest the billions required to build a network for net zero, subject to an acceptable and investible overall price control settlement.'
At 9:52am: (LON:SSE) Sse PLC share price was 0p at 1362p
Story provided by StockMarketWire.com
|
|
|
|
|
|
