SP Energy Networks statement on draft determination

Nicola Connelly, CEO of SP Energy Networks, said: “Our plans to invest up to £12bn into the major rewiring of Britain will unlock capacity and economic growth, as well as reducing electricity bills and network constraints. This is exactly what is needed to electrify the country, support households and businesses, and deliver the Government’s Clean Power 2030 ambitions. 

“In today’s Draft Determination, we welcome that Ofgem recognises this historic investment is critical to ensuring energy security. We will now take time to analyse their initial position in more detail.  Between now and December we will engage to ensure a balanced regulatory framework that incentivises this critical investment is delivered.”