Commenting on the publication of the CMA’s provisional determination on the RIIO-2 price control, a ScottishPower spokesperson said:
“We will consider carefully all aspects of the CMA’s provisional determination, particularly the CMA’s rejection of our appeal on cost of equity, but our initial reaction is to welcome a number of the provisional findings, including the approach to outperformance.
“We are committed to supporting the drive to Net Zero through our investments in the electricity grid to bring on more renewables and to deliver cleaner transport, heating and industry. Only this week the UN's Intergovernmental Panel on Climate Change has set out, in the starkest terms, the urgency of taking action now.
“We believe the UK needs to remain attractive in the international competition for capital to deliver green infrastructure, and we will now consider what further evidence we can submit to the CMA on the importance of providing sufficient incentive for investment in our transmission network.”