Business planning in a changing energy landscape
The energy landscape is changing and placing new demands on our network. Offshore wind farms, solar panels, more electric vehicles and improvements in battery technologies mean that our network needs to adapt. And to do that, we need effective business plans.
Our future business plans
We’re currently preparing our next business plans for the period 2021-2026, which involves setting the standards of service we provide, the investments we make, how we’ll innovate for the future, and the performance outcomes upon which we’re measured.
We’re encouraging anyone that has an interest in what we do to get involved. We want to take account of a broad range of views about our changing industry and gain insight into what’s important to our stakeholders.
Our current business plans
Our current business plans cover the RIIO-T1 period, which runs from 2013-2021. We regularly consult our stakeholders on relevant topics, such as shaping the future gas system and network planning.
By engaging with our stakeholders, we can take their views into account and make sure that our plans reflect what’s important to them.
Independent stakeholder groups
In developing our plans, we’re also working with our new independently chaired stakeholder groups, whose role is to scrutinise our engagement approach and business plans. These groups provide challenge and feedback, ensuring our plans will achieve the right outcomes for our stakeholders who also include end-consumers.
Alongside this, Ofgem is creating a RIIO-2 challenge group to consider the affordability and sustainability of our plans.
The groups will each submit a report to Ofgem in addition to our own submissions. You can download the RIIO-2 Enhanced Stakeholder Engagement Guidance document from Ofgem’s website.
Find out more
Business planning timeline
We are required to submit our final business plans to Ofgem by the end of 2019 for the next regulatory price control period (RIIO-2).