Ofgem Rejects National Grid's Bid to Recover GBP123 Million from Customers
28 September 2018 - 4:45PM
Dow Jones News
By Carlo Martuscelli
The U.K. energy regulator has rejected a request by National
Grid PLC (NG.LN) to recover 123 million pounds ($161.4 million)
from its customers to maintain gas compressors.
The utility will be allowed to recover only GBP500,000 for the
compressors, Ofgem said. However it said that it will allow
National Grid to recover GBP111 million from consumers to replace a
gas pipeline, which falls slightly short of the around GBP140
million that the company requested.
The regulator confirmed that National Grid, Wales and West
Utilities and Cadent can recover GBP96 million, which is to be
spent on improving resilience to security threats, managing street
works and compensating landowners for gas pipeline disruptions.
Write to Carlo Martuscelli at carlo.martuscelli@dowjones.com
(END) Dow Jones Newswires
September 28, 2018 02:30 ET (06:30 GMT)
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