Ofgem Challenges National Grid Cost Plan For Hinkley Point Upgrade
August 30 2017 - 2:58AM
Dow Jones News
LONDON-- The U.K.'s energy regulator Ofgem said it believes the
network grid upgrade to connect the new Hinkley Point C nuclear
power station in England and the electricity network can be
completed for less than the 840 million pounds ($1.08 billion)
proposed by National Grid PLC (NG.LN).
National Grid, owner of the electricity transmission system in
England and Wales, submitted its economic case for the upgrade in
March. Ofgem said Wednesday that it is challenging 20% of National
Grid's proposed costs, particularly in relation to the treatment of
how severe weather could delay construction of the grid
upgrades.
Ofgem said it has launched a consultation and will make a final
decision on whether the upgrade is needed and if so how it should
be delivered by the end of this year.
A decision on what costs will be allowed for the upgrade would
be made in late 2018 or early 2019, Ofgem said.
-Write to Rory Gallivan at rory.gallivan@wsj.com; Twitter:
@RoryGallivan
(END) Dow Jones Newswires
August 30, 2017 02:43 ET (06:43 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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