SSE PLC

Legal Proceedings Report • Oct 28, 2021

National Storage Mechanism | Additional information

RNS Number : 4990Q

SSE PLC

28 October 2021

SSE plc

CMA Final Determinations

28 October 2021

The CMA has today published a summary of its final determinations into SSEN Transmission's appeal against certain elements of Ofgem's RIIO-T2 price control settlement.  The full final determinations and associated documents are expected to be provided to appellants and interveners later this week and then published by the CMA shortly thereafter.

SSEN Transmission welcomes that the CMA has upheld its appeals against the assumed 'Outperformance Wedge', and for changes to the Licence Modification Process.

However, SSEN Transmission is disappointed that the CMA has not upheld its appeals on the flawed Cost of Equity, or on changes to how Transmission Network Use of System Charges are recovered and the associated risk of under recovery this presents.

SSEN Transmission will continue to assess the full details of the CMA's final determinations as they become available and remains committed to work constructively with Ofgem and wider stakeholders as it continues to take forward ambitious plans to deliver a network for net zero.  

ENQUIRIES:

Investors and Analysts       ir@sse.com                     +44(0)345 0760 530

Media                                   media@sse.com             +44(0)345 0760 530                                                      

NOTES TO EDITORS:

SSEN Transmission, operating under licence held by Scottish Hydro Electric (SHE) Transmission plc, owns, operates and develops the high voltage electricity transmission system in the north of Scotland and remote islands. 

SSEN Transmission is a wholly owned subsidiary of SSE plc.

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