In January 2021 Western Power Distribution (WPD) published its first draft Business Plan for the regulatory price review period called ‘RIIO-ED2’, covering 2023-2028.
WPD Your Power Future
This year, WPD is submitting its RIIO-ED2 Business Plan for the five year period from April 2023 – March 2028. The period aligns with Ofgem’s regulatory price control review period; the second for electricity distribution to be determined using the Revenue=Incentives, Innovation and Outputs framework.
Their Business Plan sets out how they will continue to deliver high standards of safety, reliability and customer service while adapting to the changing environment in which we operate.
They expect to face many more new challenges during RIIO-ED2, including the need to ensure capacity is available for new technology and changing demand patterns, as well as tackling the environmental challenge of reducing our carbon emissions and enhancing network resilience to combat increasing cyber threats.
A proposed invest around £6 billion in the network across the period 2023-2028 to deliver WPD’s current view. This is an increase in overall expenditure of around £1 billion from current levels. This will deliver significant benefits to customers and move towards Net Zero. At the same time, customer bills are set to remain broadly the same as present day levels.
It is vital that WPD plans for the future reflect the priorities, needs and expectations of their stakeholders and bill paying customers. They have therefore co-created the plan with them. So far during the RIIO-ED2 business planning process, we have interacted with over 4,500 stakeholders through a multitude of events, surveys and group sessions and will continue to broaden this interaction.
They really want to hear your views on our first draft Business Plan.
This online consultation is broken up into 4 separate sections;
- meeting the need of consumers and network users
- maintaining a safe and resilient network and
- delivering an environmentally sustainable network
- further views on the plan
Throughout each section you will be asked to submit your options as you go. At the end of each section you will see a link to progress to the next section.
If you have any questions about this process before submitting please email us: firstname.lastname@example.org.