SSE subsidiary details final RIIO-ED2 business plan
By Iain Gilbert
Date: Wednesday 01 Dec 2021
(Sharecast News) - Energy company SSE's wholly-owned subsidiary Scottish and Southern Electricity Networks Distribution published its final business plan for Ofgem's RIIO-ED2 price controls on Wednesday.
SSEN's plan includes proposals to invest £3.99bn in the north of Scotland and central southern England over the RIIO-ED2 period of 2023-2028 in order to accelerate a transition to "smart, flexible networks" and meet net-zero.
The proposed increase in investment will be delivered with no planned rise in distribution costs on customer energy bills, supporting "a just and fair transition" to net zero.
The FTSE 100-listed firm stated the baseline investment, which was reduced by £146.0m from its initial proposal, could see the regulated asset value of SSEN Distribution grow to over £6.0bn by 2028.
SSEN also highlighted that its plan will create over 850 jobs over the price control period.
As of 1145 GMT, SSE shares were up 0.16% at 1,554.50p.
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