Today (Tuesday 1 July), Ofgem, the energy regulator, published its Draft Determination in response to our RIIO-GD3 Business Plan, which outlines its initial view about how much revenue we can have to deliver our investment plans for the North of England for 2026 – 2031.
As a frontier performing gas distribution network, our Business Plan is ambitious and builds on our track record of outperformance across safety, reliability, efficiency and customer service, setting out a £1.8 billion investment for customers and the environment.
Built to deliver our vision for a fairer, greener future for the North of England, our plan was informed by a comprehensive programme of engagement with thousands of customers and stakeholders and designed to ensure that every pound that we spend supports our customers priorities and preferences.
This includes maintaining and modernising our network and supporting a fair and equitable transition to Net Zero by 2050, while continuing to deliver outstanding customer service for our 6.8 million customers.
We’re pleased to share that Ofgem’s draft decision indicates strong support for our investment plan. It reaffirms our position as the most efficient gas network and frontier performing company and recognises the vital role of our gas network in the region’s critical infrastructure.
What’s next?
We will be spending the coming days and weeks carrying out a detailed review of the proposals, assessing Ofgem’s response on various aspects of the plan, as well as engaging with our regulator through their consultation process to ensure that the final plan is affordable, deliverable and prioritises sustainable value for the region.
Whether it’s ensuring fair and transparent costs, strengthening support for customers in vulnerable situations, or making vital investments in sustainability, we’re encouraging you to take this opportunity to raise any thoughts about Ofgem’s response to our plan and make your voices heard.
We’ll be publishing our full response to the consultation here on our website after the consultation period closes later this Summer.
Ofgem will make final decisions about our plans in December 2025. In the meantime, we remain committed to continuing to work closely with the regulator to ensure the best possible outcome for our customers and the UK’s long-term energy future.
Mark
CEO