Our RIIO-T3
Business PlanOur Business Plan will deliver a transformation of our network, nearly doubling the amount of power we can transfer across the country, and providing twice as many customer connections as in the last five years.
Explore the planValue for money
We have a responsibility to deliver our plan as efficiently as we can for existing and future consumers.
This section covers Ofgem's third Consumer Outcome where we show the comprehensive benchmarking process that has informed our cost estimates to ensure we are efficient. We have also made a commitment to an ongoing efficiency target at the very top of what evidence suggests is achievable.
We recognise our plan to expand the network significantly will increase the amount consumers pay for electricity transmission. We estimate this would be an increase from £23 per year in 2026 to about £44 per year by 2031 for the average household. However, if we did not invest, bills would be £40 per year higher on average over the RIIO-T3 period due to constraint costs where network capacity is insufficient.
The value we generate for consumers is far greater than the direct impact on the bill. We generate value by powering economic growth and supporting new jobs and investment, enabling decarbonisation across power, heat and transport. In this section, we describe our impact on economic growth, including how our plan supports more jobs by 2030.
The investments included in this section align with our ambition to become an Intelligent, Connected Digital utility by developing our data and digital capabilities, based on stakeholder insights.
We also set out our proposals for how the regulatory framework should be set to maximise consumer value. There is an important role for output delivery incentives in the regulatory framework, to ensure that we and other parties such as NESO are focused on going above and beyond for consumers, such as reducing constraint costs or releasing new system access. We set our proposals for two additional common incentives.
We will cover the following topics:
5.1 Ensuring our costs are efficient
5.2 Our contribution to supporting economic growth
5.3 Our digitalisation and data strategy
5.4 Our information technology and telecommunications investments
5.5 Setting the regulatory framework to support long- term value for money
