Regen has written to Ofgem's CEO raising concerns that the RIIO-ED2 price control risks preventing low-carbon technologies from connecting to the network at the speed and scale required to achieve net zero and provide a route away from our reliance on gas.
RIIO-ED2 is vital to ensure the UK achieves net zero and works towards greater energy independence.
However, the baseline of network investment in the RIIO-ED2 Draft Determinations falls well short of that required to achieve the UK's legal and strategic energy goals, despite assurances in BEIS' and Ofgem's recent 'Electricity Networks Strategic Framework'. Moreover, the Framework stated that "additional mechanisms will allow investment to quickly track changes in demand over time", while those proposed in the Draft Determinations are complex and bureaucratic.
Regen has written to the Chief Executive and Chair of Ofgem, urging that the final determinations are fit for purpose and much simpler, in order to enable timely investment in the hundreds of projects and flexibility markets required.
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