The National Grid plc (LON: NG) share price fell, then rose later after Ofgem released its consultation documents specifically tailored to the UK Electricity Transmission business, focusing on the RIIO-T3 regulatory period set to be effective from April 2026 through March 2031.
YOUR CAPITAL IS AT RISK. 76% OF RETAIL CFD ACCOUNTS LOSE MONEY.
The consultation marks the next stage in the RIIO-T3 process and is the foundational framework for National Grid’s Electricity Transmission business plan, scheduled for submission in late 2024.
As the company shifts its focus towards RIIO-T3, which entails a significant increase in investment, the firm dramatically appreciates Ofgem's acknowledgement, within this consultation, of the necessity to provide clear signals and guidance.
The clear signals will offer investors the certainty and confidence that projects are feasible and attractive for investment. Consequently, this approach empowers National Grid to maintain its commitment to delivering world-class networks at the most cost-effective rates for consumers.
This consultation is integral to a broader set of changes essential for sustaining the energy transition's rapid progress. National Grid is encouraged by the recent strides made by the government and Ofgem in various aspects.
Presently, National Grid is actively progressing towards implementing its new contractual model for collaboration with the supply chain. The procurement process for the firm’s enterprise partnership model has already commenced. In the coming months, the company will select strategic partners to ensure the timely execution of major projects.
Establishing the right policies and regulatory framework is critical for the industry to continue driving forward and surmounting obstacles to achieving a net-zero energy system as swiftly as possible.
National Grid anticipates providing a comprehensive response to the sector-specific consultation in the first quarter of 2024, marking the next significant step in this journey.
National Grid share price.
The National Grid share price fell but recovered on Ofgem’s latest announcement.
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YOUR CAPITAL IS AT RISK. 76% OF RETAIL CFD ACCOUNTS LOSE MONEY
YOUR CAPITAL IS AT RISK. 76% OF RETAIL CFD ACCOUNTS LOSE MONEY.