PPL Says Fast Track Draft Determination for UK Units Expected Nov. 22nd
The Office of Gas and Electricity Markets (Ofgem) has informed PPL Corporation (NYSE: PPL) that it expects to announce on Nov. 22 its Initial Assessment and Fast Track Draft Determination as part of the agency's price control review process for electric distribution networks in England, Wales and Scotland.
The draft determination will indicate whether any of PPL's four Western Power Distribution subsidiaries in the United Kingdom may receive accelerated consideration of their business plans. Ofgem's price control review process, called RIIO ED-1, will determine base revenues for an 8-year period starting April 1, 2015.
A fast track determination provides key incentives including additional revenue equivalent to 2.5 percent of total annual expenditures, greater revenue certainty earlier in the process and a higher level of cost savings retention.
Ofgem expects to announce its Fast Track Final Determination in February 2014.
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