UK Electricity Regulator Reduces Investment Allowance To Lower Bills
September 15 2017 - 1:55AM
Dow Jones News
LONDON-- The U.K.'s energy regulator Ofgem Friday said it is
reducing the amount electricity distribution network operators can
spend on their networks up to 2023 by 200 million pounds ($268
million), a move it said will result in lower energy bills for
households.
Ofgem said the reduction is possible electricity providers have
had to invest less money than expected on their infrastructure due
to electricity demand being lower than predicted.
The move affects electricity providers including SSE PLC
(SSE.LN) and Scottish Power, a subsidiary of Spain's Iberdrola S.A.
(IBE.MC).
-Write to Rory Gallivan at rory.gallivan@wsj.com; Twitter:
@RoryGallivan
(END) Dow Jones Newswires
September 15, 2017 02:40 ET (06:40 GMT)
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