On 7th March 2018 Ofgem published their second Revenues = Incentive + Innovation + Outputs (RIIO-2) framework document. This document was under consultation until the 2nd May and features a number of proposals to reform the way the UK energy network infrastructure is regulated and financed.
As a part of the consultation process, Energy Capital has responded on behalf of the West Midlands Combined Authority. Energy Capital’s consultation response argues that democratically-accountable regional institutions present the best and most efficient opportunity to deliver Ofgem’s objectives around consumer engagement, strengthening competition and supporting innovation in an increasingly distributed and clean energy world.
A more flexible and simpler regulatory structure for energy in the UK is now possible taking advantage of the existence of devolved authorities. This will deliver benefits for customers. It will also ensure support faster energy systems transition and more effective and timely deployment of innovations.
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