Scottish and Southern Electricity Networks (SSEN) Distribution, a wholly owned subsidiary of SSE PLC (LSE:SSE), plans to invest about £4bn and create more than 850 jobs, according to its final business plan for 2023-28.
It plans to invest £3,994mln, a £146mln reduction compared with its draft proposal, to help it transition to net zero. The investment will be delivered with no planned rise in distribution costs on customer energy bills, it said.
The final plan will be assessed by Ofgem, with determinations published in 2022, ahead of the new price control starting in April 2023 and running to March 2028.
The business plan “will improve reliability, support the most vulnerable, cut carbon, get EVs on the roads and enable cleaner heating into homes as well as create hundreds of well-paid and secure green jobs in our regions,” said Chris Burchell, managing director of SSEN Distribution.