StockMarketWire.com - National Grid said it is pleased that Ofgem's decision surrounding RIIO-2 Framework provides further clarity on the length of the price control from April 2021 and continues to put consumers and other stakeholders in a central role in the process.

The company reported it looks forward to continuing to work constructively with Ofgem and other stakeholders over the coming months to achieve the best possible outcome for all stakeholders.

Separately, Ofgem also published its final decision on the delivery model for the Hinkley-Seabank project (HSB) today, in which it chose the Competition Proxy model.

National Grid announced Ofgem's decision does not affect its commitment to delivering HSB to time and to quality as per our licence obligations.

The company said it will review the detailed decision by Ofgem and consider all of its options prior to Ofgem formally implementing the proposals into the licence later in the year or early 2019.

The HSB project is expected to have a total cost of around £650m, with the majority of forecast spend by National Grid Electricity Transmission in the RIIO-T2 price control period from April 2021 onwards.




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