GOVERNANCE SHAPES EVERY STAGELicences, CfD, Capacity MarketRIIO price controlsPrice cap, industry codesWindSolarGas CCGTNuclearBiomassInterconnectorsTransmission and distribution routesBalancingNESO control room50 Hz frequency targetSupply must equaldemand every secondBalancing Mechanism+ ancillary servicesNetworksTRANSMISSION275 / 400 kVNGET, SPT, SHETDISTRIBUTION132 kV down to 230 V14 DNO licence areasRIIO price-controlledDomesticMeters and tariffsIndustrialCommercialGovernanceOfgem (regulator)Licences, price controlsDESNZ (policy)Clean Power 2030, CfDIndustry codesGrid Code, BSC, CUSCDCUSA, RECEvidence loopData feeds back into policyGENERATIONBALANCINGNETWORKSCONSUMERSGOVERNANCEConsumer outcomes and operational data feed back into governance, closing the loop