The Office of Gas and
Electricity Markets (Ofgem) has informed PPL Corporation 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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