- Power utility SSE said it had submitted a final business plan to UK regulators that involved spending of at least £2.4bn on its network over the next five-year regulatory period.

The plan was lodged with Ofgem for the RIIO-T2 transmission price control, covering the period between April 2021 and March 2026.

'This investment is essential to maintain and grow the north of Scotland transmission network to meet the certain needs of current and future electricity generators and customers, delivering a clear pathway to net zero' SSE said.

The planned figure marked an increase from the £2.2bn minimum forecast cited in a draft business plan.

SSE said that to deliver on its plan, it estimated its average cost to the UK consumer over the five-year period would be about £7 a year, including forecast movements in inflation.

'We believe our business plan represents a balanced package that makes a powerful case for the vital investment needed to deliver a pathway net zero,' chief executive Rob McDonald said.

'It will also lead to improved network reliability, at an affordable cost to consumers, whilst also providing a fair return to investors.'

At 1:06pm: [LON:SSE] SSE PLC share price was -6.75p at 1315.25p

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