Planning for the future
We own, operate and manage the electricity network from Cumbria to Greater Manchester. Around £90 a year from a typical household electricity bill comes to us to invest in the network to make it more reliable, affordable and good for the environment.
Ofgem, the energy sector regulator, oversees and agrees what we can charge you for the services we provide and how much of your electricity bill should come to us to look after the electricity network. The charges are typically reviewed every five to eight years. New charges are then implemented following consultations and engagement with our customers, such as you, to determine how we should spend your money. This process is called a price control review.
The review, along with customer engagement and consultations helps up to shape our overall business plan. We’re currently working on our future business plan which will come into effect from April 2023 and is likely to last for around five years. This is referred to as RIIO-ED2.
We're busy working with customers and stakeholders to define our future business plan and you can see which stage we are currently working on in the timeline below. You can also find out more information below about the business planning process, how we engage with our customers and how you can get involved in the conversation to determine what we spend your money on.
Timeline
Customer connection and electricity in my life
Studying, sharing and discussing the day to day priorities of what matter to customers and the changing nature of energy. Detailing the ‘wants and needs’ of customers. Ofgem hosting working groups to discuss the price control amongst other network operators to agree a common approach.
Our plan for the future
Evaluating our ideas and plan to make sure they are right, focusing on understanding trade-offs, investment priorities, and willingness to pay. Ofgem begins methodology consultation, detailing outputs of the working groups and how prices will be set.
Sweating the detail
Further refinement of our plan and detailed exploration around specific issues. Checking customer acceptability of overall plan. Ofgem decision and templates confirmed for price review structure.
Sign off and submission
Reviewing and delivering the final business plan which will shape the prices charged to customers from April 2023 onwards. Business plan data tables produced for Ofgem to ensure they are consistent across the industry, outlining how money will be spent on the network.
Learn more
Engaging with our stakeholders
Stakeholder engagement is crucial to the development of our future business plan. A key part of our engagement is our independent Customer Engagement Group which delivers the expectations and needs of our customers and stakeholders.
Our business plan
Our business plan outlines our findings and details our plans to shape the future of your electricity network.
Regulatory information
Learn more about the price control review we provide Ofgem.