Risks to security consumers: We have, however, also tested our business plan against credible alternative scenarios and have identified uncertainties and the corresponding impact on investment to create a robust and flexible approach to the range of credible future outcomes. In order to do this there are a number of major challenges we need to overcome. Delivery of this capacity will bring with it a greater challenge as a result of the impact of the planning process, as detailed below. We estimate that during the plan period this will cost 3. Although the precise impact of the IED is unclear as it has not yet been transposed into UK legislation , we have identified that 21 compressor drive units will not meet the requirements of the directive and so removal of these is included in our plan.
This, along with our role in facilitating a low-carbon future and shaping UK and European energy policy, will continue to be our core priorities. Refer to our Managing risk and uncertainty annex Want to know more? Middlesbrough Manager Competency Framework. We will develop some of the anticipatory investment principles such as considering commercial intelligence alongside auction signals. Risks and uncertainties Risks and uncertainties Our risk management approach We have a well-established risk management methodology which we use throughout the business to allow us to identify and manage the principal risks that More information.
Innovation will be a crucial tool in ensuring rii-ot1 can deliver the required investments efficiently. Our security strategy allows for effective and appropriate security measures to be employed to safeguard our above ground assets and provides for the enhanced protection necessary to ensure the continued safe operation of our IT systems.
We will continue to mitigate risks and strive to eradicate injuries. We achieve this flexibility via our proposed suite of uncertainty mechanisms.? DVH – I agree with your post We busuness that during the plan period this will cost 3. As the regional monopoly. This explanatory memorandum has been prepared by the Department for Energy. Developing our Detailed plan annex to demonstrate the linkages between capital and operational expenditure. Initial views on the regulatory framework for Network Rail s system operator function PR18 working paper Working paper 3: Stakeholder engagement is a key component of any new routeing.
EMR consultation on industry code and licence modifications Government response: The survey itself must not be a resource burden on stakeholders.
Member Benefits Manage your personalised Watchlist. This may not always be the right approach as it does not consider future stakeholders needs. The purpose of this report. The updated business plan submission incorporates financing proposals, including an allowed cost of equity of 7.
Reform of the distribution network pricing arrangements under the National Electricity Rules to provide better guidance for setting, and consulting on, cost-reflective distribution network pricing structures. We are also doing as much as budiness can to increase the number ggrid potential recruits. Unexpected material events can occur and whilst we plan to prevent such occurrences, additional funds will be required to manage these unforeseen events if they do arise.
Our network consists of a large number of secondary assets such as valves and pressure regulators which support the operation of primary assets such as pipelines as defined by the asset health and criticality indices Network Output Measures NOMs agreed with Ofgem.
Customer satisfaction To deliver our part in meeting the UK s climate change targets, we need to be a flexible organisation that is in tune with the market environment and with our customers.
A modification to the Uniform Network Code is currently being progressed which will deliver clearer timescales around the gas connection process. We forecast we will spend 0.
National Grid Gas Transmission s RIIO-T1 business plan overview
We take a variety of factors into account such as the complexity of the work, where the expertise sits, the need for flexibility and economic factors when assessing whether insourcing or outsourcing is most appropriate and what this should look like.
A large untapped resource: This will ensure the continued safety and integrity of the primary assets, allowing them to deliver the outputs they were designed to provide.
As such, the majority of our costs are increasing and a growing element of our forecast efficiencies takes the form of delivering more for the same through productivity initiatives, mitigation of upward pressures and spend to save transformation programmes, along with more traditional cost reduction bsuiness.
Tricia Quinn, Senior Economist Publication date: Our business plan reflects this.
National Grid Gas Transmission s RIIO-T1 business plan overview – PDF
Scope and prioritisation of More information. We will need to deal with the challenges of the new Act at the same time as increasing the number of planning applications we make as our investment grows throughout the RIIO-T1 period. Refer to our Managing risk and uncertainty annex Want to know more? June Position Paper Contribution to the debate on electricity market design and capacity markets Eurogas is the association representing the European gas wholesale, retail and distribution sectors.
Other factors that could cause actual results to differ materially from those described in this announcement include fluctuations in exchange riil-t1, interest rates and commodity price indices; restrictions in National Grid’s borrowing and debt arrangements, funding costs and access to financing; National Grid’s status as a holding company with no revenue generating operations of its own; inflation; seasonal fluctuations; the funding requirements of its pension schemes and other post-retirement benefit schemes; the loss of key personnel or the ability to gdid, train or retain qualified personnel and any natlonal arising with its employees or the breach pan laws or regulations by its employees; accounting standards, rules and interpretations, including changes of law and accounting standards and other factors that may affect National Grid’s effective rate of tax; and incorrect or unforeseen assumptions or conclusions relating to business development activity.