RIIO-ED2 Introduction
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.
Our Business Plan sets out how we will continue to deliver high standards of safety, reliability and customer service while adapting to the changing environment in which we operate.
We 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.
We propose to 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 us towards Net Zero. At the same time, customer bills are set to remain broadly the same as present day levels.
It is vital that our plans for the future reflect the priorities, needs and expectations of our stakeholders and bill paying customers. We 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.
Get involved
Our next consultation will be launched on the 24th March 2021, this will be assessing our second draft business plan.
Throughout 2021 we will be encouraging you to take part in multiple online events and consultations to ensure that what we are proposing to invest in throughout 2023-2028 has been shaped by you, our stakeholders.
Webinar
We recently hosted a webinar on 3rd February to discuss the recent Business Plan draft publication.
To view the slides from the webinar please click here.
To view the questions and answers from the webinar please click here.
Meeting the need of consumers and network users
Maintaining a safe and resilient network
Delivering an environmentally sustainable network
WPD Actions
In total we are proposing 67 core commitments
These commitments represent significant actions and services improvements that stakeholders have told us they want us to deliver across the three categories of:
a. Meeting the needs of consumers and network users
b. Maintaining a safe and resilient network
c. Delivering an environmentally sustainable network
As well as the high level core commitments, we have drawn up a number of wider commitments. These are key actions which will enable us to achieve our core commitments and deliver on the promises we made to stakeholders in response to their feedback.
Our aim is to build a plan that is as well justified as possible, wholly reflective of the needs and priorities of our full range of stakeholders, including bill-paying customers. This will ensure that the final Business Plan we submit in December 2021 has the broadest stakeholder endorsement and acceptability possible.
For that reason we have published our proposals as early as possible to invite stakeholder views and request feedback to help us refine and amend our proposals.
Get involved
We really want to hear your views on our first draft Business Plan.
Throughout 2021 we will be encouraging you to take part in multiple online events and consultations to ensure that what we are proposing to invest in throughout 2023-2028 has been shaped by you, our stakeholders.
