Ofgem has allocated £25 billion of upfront funding to networks as part of its draft determinations for the RIIO2 price controls for gas and electricity transmission, gas distribution and the electricity system operator beginning in April 2021. The regulator has also identified a further £10 billion of expenditure that could be approved over the course of the five-year period to help accelerate the decarbonisation of the energy system. In response, networks have said the regulator's approach signals a "worrying return to austerity".
Ofgem approves £25bn of upfront funding for RIIO2
