UK Regulator Probes National Grid, Scottish Power Over Subsea Cable Delay
January 28 2020 - 5:29AM
Dow Jones News
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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