UK Energy Regulator Cuts National Grid's Spending Allowance by GBP185 Million
February 24 2017 - 3:32AM
Dow Jones News
By Tapan Panchal
LONDON--U.K.'s energy regulator Friday said it would reduce
National Grid PLC's (NG.LN) spending allowance for running high
voltage electricity grids and high pressure gas mains by 185
million pounds ($230.85 million) following "material" changes in
the company's plans.
The Office of Gas and Electricity Markets, or Ofgem, has reduced
National Grid's spending allowances to take into account the
company's plans to scrap the construction of the Avonmouth gas
pipelines, reduce fault protection works and make changes to the
electricity supply system.
The reduced allowance, effective from April 2018, follow a
review of energy transmission price controls.
Thee regulator added it has opened a separate consultation on
reducing National Grid's gas distribution allowance by GBP54
million.
Write to Tapan Panchal at tapan.panchal@wsj.com
(END) Dow Jones Newswires
February 24, 2017 03:17 ET (08:17 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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