National Grid Defers Electricity Transmission Allowances
March 28 2017 - 3:49AM
Dow Jones News
By Razak Musah Baba
LONDON--The U.K. electricity and gas utility, National Grid PLC
(NG.LN), said Tuesday that it won't need to take an allowance the
country's energy regulator had earmarked for network
investment.
The company said that after reviewing its needs it had
volunteered to defer 480 million pounds ($598.5 million) worth of
allowances.
The allowance, known as RIIO-T1, are intended to promote
effective services for energy consumers.
National Grid said it has discussed its proposal with the U.K.
energy regulator, Ofgem, and expects the change to be enacted
through the November 2017 Ofgem annual iteration process.
-Write to Razak Musah Baba at razak.baba@wsj.com; Twitter:
@Raztweet
(END) Dow Jones Newswires
March 28, 2017 03:34 ET (07:34 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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