Ofgem has released its Sector Specific Methodology Consultation for National Grid's UK Electricity Transmission business, which will be effective from April 2026 to March 2031. This consultation is part of the RIIO-T3 process and will form the basis for National Grid's Electricity Transmission business plan, to be submitted in late 2024. National Grid welcomes Ofgem's recognition of the need for clear signals and direction to provide certainty and assurance to investors. The company aims to continue delivering world-class networks at the lowest cost for consumers. National Grid is encouraged by recent progress from the government and Ofgem in various areas, including the development of a new contractual model for working with the supply chain. The procurement process for the enterprise partnership model has been launched, and strategic partners will be selected in the coming months. National Grid emphasizes the importance of having the right policies and regulatory framework in place to achieve a net zero energy system. The company plans to provide a detailed response to the consultation in the first quarter of 2024.