Ofgem Sets Out UK Grid Operators' 2015-23 Pricing Plans

By Dow Jones Business News, 
A A A


By Ed Ballard

LONDON--The U.K.'s energy regulator Ofgem said the companies that run the U.K.'s electricity network will spend 17 billion pounds ($28.8 billion) on upgrading and maintaining Britain's local grid infrastructure.

The proposals, which take effect in April and run until 2023, will reduce the amount customers pay to cover electricity grid investment by GBP12 pounds a year, Ofgem said.

Ofgem's proposals cover the investment and pricing plans of five of the U.K.'s six grid operators: U.K. Power Networks, Northern Power Grid, Scottish Power's Energy Networks division, SSE PLC's Power Distribution division, and Electricity North West.

About GBP2.1 billion has been cut from the companies' original plans after analysis by the companies and Ofgem found ways to improve value for money, Ofgem said.

The sixth company, Western Power Distribution, had its pricing plan backed by Ofgem last year.

Write to Ed Ballard at ed.ballard@wsj.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires


  (END) Dow Jones Newswires
  07-30-140258ET
  Copyright (c) 2014 Dow Jones & Company, Inc.


This article appears in: Energy

Referenced Stocks: BRK.A , BRKB , IBDRY , IBE , IBE1

Dow Jones Business News


More from Dow Jones Business News:

Related Videos

Stocks

Referenced

Most Active by Volume

106,677,910
  • $17.03 ▲ 0.47%
101,357,777
  • $38.65 ▼ 5.57%
61,830,117
  • $89.89 ▼ 4.26%
54,116,071
  • $5.11 ▼ 4.49%
50,121,934
  • $101.06 ▲ 0.10%
49,993,927
  • $3.52 ▼ 1.40%
47,717,687
  • $11.44 ▼ 4.67%
44,793,169
  • $99.05 ▼ 0.93%
As of 9/22/2014, 04:15 PM