National Grid Says Some of Regulator Ofgem's Proposals Are Unacceptable

   By Adria Calatayud

National Grid PLC said Monday that some proposals included in U.K. energy regulator Ofgem's draft determinations for electricity and gas transmission networks in the period between 2021 and 2026 are unacceptable.

The U.K. energy and gas utility company said it has submitted its responses to Ofgem's RIIO-2 draft determinations, and said some of the regulator's proposals aren't in the interests of consumers and don't reflect the views of the company's stakeholders.

National Grid said it conducted its own stakeholder-engagement program, which highlighted the importance of maintaining reliable and resilient networks and the important role the company had to play in the U.K.'s transition to net-zero emissions. This requires a flexible regulatory framework that incentivizes investment while protecting consumers, the company said.

The company said Ofgem's proposals also risk disrupting its supply chain and threaten the investment required to put the U.K. on the path to meet its net-zero targets.

National Grid said it will continue to engage with Ofgem at all levels to facilitate an agreement.

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

(END) Dow Jones Newswires

September 07, 2020 02:33 ET (06:33 GMT)

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