In RIIO-ED1, we will invest in maintaining, replacing and upgrading our network and carrying out all the other functions expected of us as a responsible business.
We have challenged ourselves to reduce costs and improve efficiency and benchmarked our ambitions against other DNOs and the wider asset management and service sectors. Our plans have been independently verified by Ofgem as cost-effective, efficient and flexible. We believe they deliver outstanding value for our customers and stakeholders now and in the future. We recognise that we need to continue to challenge costs and efficiency and so are committing to reduce our costs by at least 1% year-on-year for the next eight years.