Have your say on our current business plans

Network Asset Risk Metric (NARM) methodology consultation

Through our new NARM methodology, we can now better quantify the level of performance that our assets are delivering for customers. This provides additional justification for the expenditure needed to maintain and improve our safety, reliability and environmental performance across our network.
 

Our consultation

We welcome your feedback and comments on the content and our approach, in particular, whether this methodology will enable us to meet the NARM objectives detailed in our licence. Please send us an email to let us know your thoughts.

We would also like to get your answers to how well we have explained how:

1. we translate asset condition and performance into a monetised risk value for different asset types
    

2. this is used to value current and future monetised risk
    

3. different types of risk can be valued and used to inform: a) investment planning; b) network risk outputs reporting
    

4. we calculate the new RIIO-2 Network Asset Risk Metric (NARM), based on the Long Term Monetised Risk Benefit (LTRB)

Reviewing and updating our methodology into the future

The methodology, in addition to being a licence obligation, also forms part of National Grid’s ISO55001 accredited Asset Management Strategy and Objectives (AMSO). The AMSO includes processes for:

• performance evaluation, including asset performance and health monitoring

• improvement, including management review, audit and assurance.

AMSO annual monitoring will be used as a basis to review the methodology, in addition to the annual review requirement specified in the RIIO-2 licence. The key parameters used in the methodology – such as predicted rates of deterioration, costs of interventions and maintenance – will be maintained and reviewed through these mechanisms.

As per licence requirements, we will continue to review the methodology on an annual basis at least. Actual modifications to the data and assumptions contained within the methodology will be made if we believe this would drive an improvement in the quantification of the asset risks and improve its decision-making processes. We will always consult on more major changes to our methodology and proposals will be submitted to Ofgem for approval.

Have your say on our current business plans

We regularly consult with our stakeholders on our current business plans, which cover the period 2013-2021. Below, you can find details of our ongoing consultations, as well as documents and information relating to our previous consultations.  

We would like to hear your feedback on these and other topics relating to our business plans, so we can take your views into account in our planning.

Get involved

As we shape our business plans, we want to hear the views of a wide range of people and organisations who have an interest in what we do. Please contact us with questions or feedback.

Previous consultation documents