Energy: Prices
(asked on 21st February 2025) - View Source
Question to the Department for Energy Security & Net Zero:
To ask the Secretary of State for Energy Security and Net Zero, what assessment his Department has made with Ofgem of the potential impact of the RIIO2 price control on network company performance.
Answered by
Michael Shanks
Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
This question was answered on 3rd March 2025
Through the price control, Ofgem regulates network company investments and sets a fair rate of return to ensure necessary investments can be made. Ofgem utilises a framework of incentives and penalties to drive up performance and is currently considering what changes may be required for future price controls to continue to improve network company performance.