National Grid Says Some of Regulator Ofgem's Proposals Are Unacceptable
September 07 2020 - 2:48AM
Dow Jones News
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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