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National Grid reviewing final Ofgem regulatory proposal
StockMarketWire.com
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Power utility National Grid said it was reviewing a final regulatory proposal published by Ofgem for the company's UK electricity and gas transmission business.
Ofgem had on Tuesday published its final determination for the RIIO-2 framework, which applied for the period running from April 2021 to March 2026.
National Grid said it would review whether the determination delivered sufficient investment to maintain reliable networks and provide flexibility to deliver critical infrastructure to achieve the UK's net zero ambitions.
'We expect Ofgem to publish its statutory consultation on the proposed licence modifications required to implement the final determination shortly,' National Grid said.
The consultation period would be followed by a period for Ofgem to consider responses, at the end of which Ofgem would publish its decision to modify the licences.
Relevant parties then would have 20 working days to appeal any part of the proposed licence modifications.
National Grid said it expected to make any final decision on whether to accept or appeal the licence modifications no earlier than late February.
Story provided by StockMarketWire.com
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