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Today, (11/12/24) we submitted our RIIO-3 Business Plan to Ofgem, a plan to deliver our commitments to our customers for the next five-year regulatory period from 2026-2031, a plan that demonstrates our purpose to ‘Keep people warm, while protecting the planet.’
Steve Fraser CEO for Cadent said, “We are delighted to have submitted our RIIO-3 Business Plan to Ofgem today.
“Our RIIO-3 plan builds on the solid foundations formed through our previous plan, whilst continuing to push the boundaries for the sector.
“Our plan sets out how we intend to maintain our network asset that the U.K. can rightly be proud of, which continue to provide people with warmth, and power industry every day - whilst playing an active role in delivering net zero.
“This plan will take us on the next step of our journey and continues to ensure we do the very best for our customers.”
Cadent is the largest gas distribution network delivering energy to over 11 million homes, which is around half of all homes and business that use gas in the U.K. Collectively the Cadent network carries almost as much energy as the entire U.K. electricity network does today, and includes the U.K.’s three largest cities: London, Birmingham and Manchester.
Steve continues, “We need to invest to maintain the truly world class assets that we have, so that the gas network can play a crucial role in delivering net zero over the decades to come.
“We need to do that whilst tackling some significant cost pressures and continuing to ensure our part of customer bills remains affordable, whilst continuing to protect the most vulnerable in society.
“This plan I believe, is a real demonstration of our purpose, ‘Keeping people warm, while protecting the planet’.”
We will publish our RIIO-3 Business Plan on our website on Wednesday 18 December 2024.
Cadent is the UK’s largest gas distribution network with a 200-year legacy. We are in a unique position to build on strong foundations whilst encouraging the curiosity to think differently and the courage to embrace change. Day to day we continue to operate, maintain and innovate the UK’s largest gas network, transporting gas safely and protecting people in an emergency. Our skilled engineers and specialists remain committed to the communities we serve, working day and night to ensure gas reaches 11 million homes from Cumbria to North London and the Welsh Borders to East Anglia, to keep your energy flowing.
Here at Cadent we support the Government’s plans to reach Net Zero by 2050. That means we’re backing the introduction of hydrogen as a low carbon alternative to natural gas for the future. We know people love the controllability of gas and, with our network already in place, it makes sense to switch to the lower carbon alternative offered by hydrogen, which we believe can keep homes and businesses warm for generations to come.
Cadent manages the national gas emergency service free phone line on behalf of the gas industry - 0800 111 999*
Cadent Gas Ltd is owned by a consortium of global investors.
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