By Razak Musah Baba
LONDON--U.K energy regulator Ofgem Friday announced a new
investment package that will enable energy companies to maintain
the electricity network and connect small-scale renewable
generation.
Ofgem said the plans will see the companies spend around 17
billion pounds ($26.6 billion) to renew, maintain the electricity
network and connect small-scale renewable generation.
Ofgem has set out plans for five out of the six companies that
run the U.K.'s local electricity network, it added.
The six companies are British Gas, which is owned by Centrica
PLC; Npower, which is part of the German power giant RWE; SSE PLC;
Scottish Power; E.On, which is part of the German E.On Group; and
EDF, a subsidiary of EDF Energy.
The regulator also said Friday that it has secured a GBP28
million payment from the generator Drax Power for failing to meet
environmental targets under the government's Community Energy
Saving Program (CESP).
Drax Power was one of the six companies under investigation
about compliance with obligations under CESP.
Under CESP, generators as well as energy suppliers had to
deliver energy saving measures to households in low-income areas by
the end of December 2012.
Ofgem has also secured GBP11 million from independent generator
Intergen for failing to meet environmental obligations, it
added.
Write to Razak Musah Baba at razak.baba@wsj.com; Twitter:
@Raztweet