RP7 Stakeholder Consultation WEB - Flipbook - Page 17
Figure 3 - Main priorities
Engagement activity what it has told us about
stakeholder priorities
for RP7
Since 2016, our engagement activity
has been designed to better understand
customer priorities and deliver positive
outcomes for them.
In the latter part of the RP6 price
control, we have seen a shift in
stakeholder priorities caused by the
Covid-19 pandemic, climate change
and the cost of living crisis. For
example, whilst a safe and secure
electricity supply was always a priority,
the pandemic has heightened the
importance stakeholders place on a
reliable supply.
Affordability is also always a priority
for stakeholders but the pandemic
and the current cost of living crisis
is highlighting concerns in this area,
particularly for the most vulnerable.
We have reflected on this and have
tried to consider the impact the current
geopolitical situation will have across
society over the coming period. Whilst
we do not have a solution to the shortterm issues in terms of international
wholesale fuel prices and the issues
that are driving up energy prices, our
business plan will be structured to
ensure our business is as efficient as
it can be, so that we are not putting
additional costs on customer bills.
Moreover, affordability is ‘front and
centre’ of DfE’s Energy Strategy which
envisages a future where Northern
Ireland is much less reliant on fossil
fuels across heat, power and transport,
which currently presents substantial
price volatility for Northern Ireland
consumers across all our energy
needs. NIE Networks is keen to
play our part over the longer term
in facilitating this energy transition
and delivering the societal benefits
it will bring in terms of overall energy
costs, environmental improvements
and economic opportunities. Our
stakeholders believe that NIE Networks
has a major role to play in supporting
innovation and technologies that deliver
a longer-term solution and reduces
Northern Ireland’s exposure on these
issues. As such, this will be a focus for
our RP7 business plan.
In summary, stakeholders are generally
supportive of the commitments we
have proposed for RP7. They recognise
the importance of the energy transition
and want NIE Networks to lead on this.
There is an acceptance of the need
for investment but that we must ‘future
proof’ i.e. design today’s assets to
last 40 years. And as we develop our
long-term plans, how we involve rural
communities, the digitally excluded
and the vulnerable, must be set out.
In addition, stakeholders are calling
for regulatory and policy changes to
facilitate the energy transition and
support economic development and
there is a general call for urgent action
to be taken to progress issues for the
benefit of customers and society.
We understand the world around us
is changing rapidly, with significant
developments in our industry and
society. We will continue to listen to
and respond to stakeholder feedback
until we submit our final business plan
to the Utility Regulator in March 2023,
and beyond.
Safe, reliable and
resilient network
Meet customer needs
particularly the vulnerable
Develop the network to
deliver net-zero
Deliver transformational
change
Deliver an environmentally
sustainable network
Keep bills low
RP7 Stakeholder Consultation
17
