A new report from National Grid shows how the company is delivering long-term value for UK consumers.
“We are taking a long-term view which shows consumers how the steps we’re taking today will add value many years from now.”
Richard Court, Head of RIIO Delivery for National Grid.
How is National Grid improving the service it provides the UK public? That’s the question being answered in a series of publications that summarise the company’s performance over the past 12 months.
Under Ofgem’s performance-based price control model RIIO (which stands for Revenue = Incentives + Innovation + Outputs), National Grid and other energy companies are obliged to report every year on what they’ve been doing to provide value for money to consumers.
“These latest reports are designed to summarise the information for the general public in a way that’s clear, accessible and easy to understand.
“Following on from feedback to last year’s report, we have presented the information in a different, hopefully better way” said Richard Court, Head of RIIO Delivery for National Grid. “Significantly, we are taking a long-term view which shows consumers how the steps we’re taking today will add value many years from now.”
The main topics covered in the report, which focuses on all three of National Grid’s regulated networks (Electricity Transmission, Gas Transmission and Gas Distribution), include:
- Value for money for the consumer
- Developments in safety, reliability, environmental benefits and customer and stakeholder satisfaction
- Successes over the past 12 months, and what will be improved in future
- Next steps in National Grid’s RIIO delivery plan.