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(Alliance News) - UK regulator Ofgem on Thursday said it is launching an investigation into whether National Grid PLC breached rules over maintenance of an electrical substation in Cumbria.
Ofgem is probing subsidiary National Grid Electricity Transmission PLC in relation to the maintenance of the Harker substation.
The watchdog is investigating a potential breach of rules concerning NGET's duty to develop and maintain an ‘efficient, co-ordinated, and economical system of electricity transmission’ and facilitate competition in the supply and generation of electricity.
It is also investigating a potential Standard Licence Condition breach of the Transmission Licence: SLC B7, which requires the firm to ‘properly and efficiently carry on the transmission business’ and comply with its obligations under the Electricity Act.
‘The opening of this investigation does not imply that we have made any findings about possible non-compliance by NGET,’ Ofgem stated.
NGET owns the high-voltage electricity transmission network in England and Wales, including the Harker substation.
Shares in National Grid were up 0.8% at 1,117.20 pence in London on Thursday.
By Lucy Heming; lucyheming@alliancenews.com
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