Energy Supply
The question
To ask the Secretary of State for Energy Security and Net Zero, what assessment he has made of the potential risks to national energy security resulting from reduced asset health funding proposed in Ofgem’s RIIO-GT3 Draft Determination.
Answered by Michael Shanks
Ofgem, as the independent regulator, are responsible for agreeing the funding and investment allowances for the gas transmission network and gas distribution network. Final decisions regarding the next price control period (RIIO3 – which covers April 2026 - April 2031) will be confirmed by Ofgem before the end of the year.
Through this process, Ofgem has a statutory responsibility to attract investment and maintain security of supply while incentivising efficiency and protecting consumers from excessive costs.
The Department will continue engaging with Ofgem to ensure RIIO-3 delivers the investment needed to maintain energy security through this period. DESNZ launched an Energy Security and Resilience Taskforce with CEOs of critical operators, with Ofgem in attendance, as a key forum to discuss risks and standards.
Verbatim has judged this answer against the question that was actually asked — answered, partly answered, or evaded. Sign in to see the verdict →