Subject to securing the necessary third party consents, SSE will reorganise its companies so that there are separate legal entities for its energy supply Retail and its electricity generation and energy portfolio management Wholesale activities. Electricity network companies also known as Distribuution and Network Organsitions are local monopolies who have to agree their work and charges with the regulator Ofgem. Through the established price control process, we will now be responding to the draft determination as well as engaging further with Ofgem in order to secure this outcome. The draft determinations include a six per cent cost of equity, lower than 6. Capital investment, deliverability and associated outputs 4 Load Related Investment 4 Non Load Related Investment – refurbishment and replacement of existing assets 6 Outputs and Associated Incentives 7 3.
The significant political activity includes the Scottish referendum on 18 September, about which SSE remains strictly neutral. By that stage, SSE will not have increased its prices since November , a period of 26 months. It has started a programme of disposal of such assets that will be completed over the next two years. The DNO cost savings should be passed on to consumers who are investing in the rollout. SSE is able to make this commitment now as a result of the planned changes to the Warm Home Discount and ECO announced in December , which it is assuming will be confirmed, through its work to secure customers’ energy supplies in wholesale markets and as a result of its wider focus on operational efficiency. Longer term, SSE remains open-minded about further reform that is in the clear interests of customers, including further steps that would enhance the transparency of financial reporting and operations. SSE has already put in place arrangements to ensure that it takes account of this uncertainty in its decision-making and is undertaking work to ensure that it:
Since the publication of the ‘provisionally affordable’ list of projects under the Final Investment Decision Enabling for Renewables announced by the UK government earlier this year, SSE has undertaken a wide ranging review of its offshore wind development portfolio current ownership stake in brackets: SSE supports the introduction of a Capacity Market inllan it to be essential to support the retention of, and investment in, electricity generation plant.
The industry is more cautious, suggesting that the bulk of the benefits will come later, in ED2. By that stage, SSE will not have increased its prices since Novembera bysiness of 26 months. SSEPD believes that its revised business plan should lead to a price control that is fair to customers and investors alike.
Submission to Ofgem on electricity networks’ RIIO-ED1 business plans
Sally Fairbairn – Director of Investor Relations. Sse riio t1 business plan Operating within a clearly-defined financial framework The financial objective of this strategic framework is to increase annually the dividend payable to shareholders by at least RPI inflation. Expected financial performance for the year to 31 March comparisons with the results for the year to 31 March The business impact at the Tipping Point is defined as follows: This includes, for example, savings arising from the closure of Units 1 and 2 at SSE’s coal-fired power station at Ferrybridge, which will take place on 28 March.
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Submission to Ofgem on electricity networks’ RIIO-ED1 business plans – Home
While SSE believes that a single energy market in Great Britain would be the most likely outcome in the event of a ‘Yes’ vote, it has long recognised that the processes of negotiation between the Scottish government, the United Kingdom government and the European Union following a ‘Yes’ vote would be likely to take time, be complex and may result in changes to the existing single energy market.
Ofgem says the companies have failed to take proper account of these savings: In each of these areas, there is significant regulatory and political activity, including the competition study process instigated by the UK government in October There is no such limit in Excel Slide 5 Model simplifications 2 5 Restricted modelling of probabilistic distributions We have restricted the modelling of uncertainties to only Normal and LogNormal distributions only If stakeholders are interested in exploring particular issues not covered by this simplified model, please contact us, and we will endeavour to adapt the model accordingly Slide 6 6 Model features The model has been constructed to examine the following types of cost uncertainties: Because they relate to future events and are subject to future circumstances, these forward-looking statements are subject to risks, uncertainties and other factors.
Very High – the solution will impact on processes and systems within the business, requiring substantial intervention, including. Request a call back. In addition to the smart meter savings, Ofgem identifies two sets of savings from smart grid solutions. SSE has consistently said that operational and financial discipline is the best way it can fulfil its core purpose of providing the energy people need in a reliable and sustainable way and believes the package of ev1 it is announcing today is entirely consistent with that.
Overview 3 Energy Market Reform 3 2.
RIIO-ED1: Ofgem challenges DNOs to shave £1.4bn from eight-year business plans
The survey itself must not be a resource burden wse stakeholders. More broadly SSE, in common with other energy companies, is exposed to a range of geo-political, market and other risks which it will continue to manage through financial and operational discipline.
The completion of the rollout of smart meters is planned for — five years into the eight year ED1 price control. SSE has therefore reduced its energy prices in Great Britain wse, unlike some companies, is also passing on savings to customers on fixed and capped price tariffs.
It believes, however, that if politicians extend the principle recognised in December – that government and taxpayers can ease the impact on energy bill payers of environmental and social costs and schemes – it will be able to extend its price freeze commitment beyond Januarysubject to there being no marked and sustained increase in wholesale prices and no new environmental, social or other policy costs.
SSE Business Update
Again, DNOs are more cautious. Search through all of our current vacancies. Prif ddolenni Our pensions advice Write a letter to your creditors Take a financial healthcheck with the Money Advice Service.
These are the four pillars of the SSE strategy. Plan Terms and Ssee sent via email within hours of completing your purchase, please look for an email from “Amazon Support” If you do not receive. The release goes on to quote Ofgem chief executive Dermot Nolan saying: The energy industry continues to go through a period of rapid transformation.