OFGEM Letter to potential buyers of gas network assets (9926K)
September 28 2016 - 2:00AM
UK Regulatory
TIDM82HZ TIDMNG. TIDMSSE
RNS Number : 9926K
OFGEM
28 September 2016
28 September 2016
Letter to potential buyers of gas distribution network
assets
Ofgem has today published a letter to potential buyers of the
majority stake in National Grid's four gas distribution networks
and part of SSE's equity stake in SGN, which distributes gas across
Scotland and the south of England.
Ofgem regulates these businesses under our RIIO-GD1 price
control (2013-2021) for gas distribution. The regulator is
reminding bidders that firm decisions have not yet been made about
RIIO-GD2, the price control period after 2021, and if they purchase
these businesses at a premium over the Regulatory Asset Values,
they will not be compensated for that premium. Ofgem does not need
to provide consent for the sale of shares in either
transaction.
-ends-
Notes to editors:
A link to letter Ofgem has published is here:
https://www.ofgem.gov.uk/publications-and-updates/open-letter-sale-gas-distribution-networks
About Ofgem
Ofgem is the independent energy regulator for Great Britain. Its
priority is to make a positive difference for consumers by
promoting competition in the energy markets and regulating
networks.
For facts, figures and information about Ofgem's work, see
Energy market facts and figures.
Follow us on Twitter @ofgem
For further press information contact:
Ofgem press office
07766 511470
0207 901 7225
This information is provided by RNS
The company news service from the London Stock Exchange
END
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