NG. National Grid Plc

By Adria Calatayud

The U.K. Office of Gas and Electricity Markets, or Ofgem, has launched an investigation into National Grid PLC (NG.LN) and Iberdrola SA's (IBE.MC) Scottish Power Transmission over a delay in delivering a subsea cable linking Scotland, Wales and England.

The regulator said Tuesday that it will investigate whether the companies breached a license because of the late delivery of the Western high-voltage direct current subsea cable, a 1.3 billion-pound ($1.7 billion) project undertaken by a joint venture of National Grid and Scottish Power.

The investigation will also examine potential breaches relating to the operation of the cable, Ofgem said.

The regulator said the opening of this probe doesn't imply that it has made any findings about noncompliance by the companies.

Write to Adria Calatayud at adria.calatayud@dowjones.com

(END) Dow Jones Newswires

January 28, 2020 05:14 ET (10:14 GMT)

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