Electricity & GasCompliance and Enforcement
Smart Grid Ireland Response to PR5
- Electricity Networks Team: Pricereview5@cru.ie
Price Review 5 Electricity Networks
The CRU has today, 18 December 2020, published its Price Review 5 (‘PR5’) Determination Papers. This decision concludes an extensive consultation process with the network companies and has considered responses received as part of the Draft Determination published in July. It comes at an important time for the evolution of the electricity networks and will play an important role in the economically efficient delivery to a low carbon system by 2030, whilst supporting security of supply and protection of the consumer interest. The Final Determination sets out the CRU’s decision on the network companies’ revenues for the 2021 to 2025 period and examines the cost and performance over the previous five years (2016 to 2020). It comes at an important time for the evolution of the electricity networks and will play an important role in enabling the transition to a low carbon system by 2030. The CRU has provided access to the funds necessary to deliver the Climate Action Plan and has put in place strong incentives to facilitate the transition to a low carbon future and better service for customers. The CRU is also introducing an Agile Investment Framework in PR5. This framework will accommodate uncertainty and the changing needs/demands of the electricity networks and market. The challenge is now for ESB Networks and EirGrid to deliver on this ambition. The published documents include: A CRU PR5 Summary Note; CRU Final Determination Papers on Transmission and Distribution Revenues (2016 – 2025); CRU Decision Paper on the PR5 Regulatory Framework, Reporting and Incentives for PR5; Consultancy Support on Revenues, Finance and Cost Incentives; and Responses to Draft Determination.