Regulatory settlements for network owners must deliver value for money for consumers. Despite improvements from Ofgem in tackling excessive profits made by these companies in previous price control frameworks, we are concerned that network owners continue to be overly rewarded. Asymmetries throughout the regulatory process between network companies and other stakeholders, including consumer representatives, increase this risk. Greater visibility of network performance is needed to drive up st...

Regulatory settlements for network owners must deliver value for money for consumers. Despite improvements from Ofgem in tackling excessive profits made by these companies in previous price control frameworks, we are concerned that network owners continue to be overly rewarded. Asymmetries throughout the regulatory process between network companies and other stakeholders, including consumer representatives, increase this risk. Greater visibility of network performance is needed to drive up standards and ensure networks deliver against their business plans. Type: conclusion | Number: 49 | Paragraph: 205 | Response status: accepted Government response: 112. Ofgem’s mandate is to ensure that network users are provided with a safe, secure and reliable energy network at the lowest possible cost. Within Ofgem’s current electricity distribution network price control RIIO-ED2, they have been ambitious in setting stringent efficiency targets. Despite the