In the future, Ofgem expects Regional Energy Strategic Plans (RESPs) to inform the investment plans put forward by energy network companies. While there is currently not much detail on the proposed contents of the RESPs, we believe building on approaches developed for Local Area Energy Plans (LAEP) can be a useful starting point. At the same time, it is critical to consider the ultimate purpose of RESPs (i.e. to inform network company business plans) which means for RESPs to be effective, they need to be reflective of network company’s needs, and ultimately align with expectations Ofgem seeks to impress on those companies when they come to put forward their investment plans across RIIO3 and beyond.  

On 8^th October, Ofgem is closing the window for stakeholders to respond to its consultation on detailed policy design of the Regional Energy Strategic Plan (RESP) framework. If implemented, these proposals will mean a significant shift in the way we plan the GB’s energy system. For the first time, investment planning at a local level will take place across all current and potential future energy vectors (electricity, gas, hydrogen, heat, etc.), reflecting anticipated local needs in a holistic manner. The ultimate aim is to ensure investment is targeted at right-sizing network infrastructure. 

Across a short series of blogs, Complete Strategy will be assessing the potential implications of Ofgem’s proposals, and discuss any (missed?) opportunities we see arriving from the proposals. 

How might the retail electricity market develop to support the Net Zero transition, whilst supporting vulnerable customers and providing opportunities for new types of market participants? Read our thoughts below, produced in conjunction with Nesta and the Energy Systems Catapult.

“On the 10th of May 2023, the Department for Energy Security and Net Zero published its long-awaited 32-page open consultation on the ‘Strategy and Policy Statement for energy policy in Great Britain’. Here we summarise this key update to GB Policy.