Electricity North West will cut prices by 5 per cent in 2014, compared to the amount allowed for by regulator Ofgem in its last price review.

The distribution network operator (DNO) said efficiency savings meant it could get by on lower revenues, as it today published a business plan for 2015-2023.

It plans to bring prices down a further 18 per cent in 2015 and keep the average price across the eight years 11 per cent lower than the previous round.

ENW pledged to cut the number and duration of power cuts by 20 per cent and make sure none of its customers is classed “Worst Served” by Ofgem.

On the environmental front, it will cut its carbon footprint by 20 per cent and connect low carbon technologies as requested.

Steve Johnson, Electricity North West’s chief executive, said: “It’s a huge challenge for us. We all want power at the flick of a switch, so we want to invest to ensure we have the infrastructure to support the region’s people and economic growth as we all use more and more electricity.

“On the other hand, when some in the North West are in fuel poverty and are struggling to afford their bills, we need to work extra hard to keep our costs down as much as we can.”

DNOs across the country submit their business plans to Ofgem on Monday, to be considered under the RIIO-ED1 framework. The regulator will fast-track plans judged robust and well-supported by customers and other stakeholders.

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