[{"data":1,"prerenderedAt":26},["ShallowReactive",2],{"1TM4aX0lUV":3},{"data":4},{"id":5,"status":6,"title":7,"split":8,"strap":9,"intro":10,"blocks":11,"stats":12,"commitments":13,"next":14},21,"published","Our financial performance",0,"Another good year","\u003Cp>The tables below summarise the key financial information for our three networks regulated by Ofgem.\u003C/p>",[],[],[],{"id":15,"status":6,"title":16,"split":8,"strap":17,"intro":18,"next":19,"blocks":20,"stats":22,"commitments":25},22,"Transparency","An open and transparent business","\u003Cp class=\"p1\">As the sole provider of an essential service, UK Power Networks is committed to transparency and welcomes scrutiny from all interested parties.\u003C/p>\n\u003Chr>\n\u003Cp class=\"p1\">We encourage stakeholders, especially our customers, to examine every aspect of our operations. Our performance data on safety, reliability, customer satisfaction, financial health, and environmental impact are openly accessible. After publishing our Open Data strategy last year, in 2023/24 we have continued to be open with our data, to foster a competitive energy market and support decarbonisation efforts.\u003C/p>\n\u003Cp class=\"p1\">We want to make it as easy as possible for stakeholders to access and understand our performance metrics. This Annual Review exemplifies our commitment, alongside other reports such as our RIIO-ED2 Business Plan, our DSO Performance Panel Report and the Annual Vulnerability Report.\u003C/p>\n\u003Ch4 class=\"p1\">Incentivising our employees\u003C/h4>\n\u003Cp class=\"p2\">At UK Power Networks, we incentivise our employees to perform in alignment with our business vision. Our Company Incentive Plan rewards achievements in safety, network reliability, customer service, and cost efficiency, ensuring that all employees work towards shared goals agreed upon with stakeholders. Since our inception in 2010, our mission has remained constant: to deliver what our customers need at the lowest possible cost. We have made substantial strides in improving safety, network reliability, and customer service, while maintaining our position as the lowest cost Distribution Network Operator (DNO) in Great Britain.\u003C/p>\n\u003Cp class=\"p2\">Financial incentives are linked to exceeding Ofgem’s targets for reliability and customer service, and we are penalised for underperformance. Our performance data are validated by independent assessors before we submit them to Ofgem. This means we are both transparent and accountable. In the regulatory year 2023/24, we earned £18 million from these Ofgem incentive schemes.\u003C/p>",23,[21],65,[23,24],14,36,[],1737733128375]