Ofgem Publishes 17 Billion-Pound Investment Power Plan

Nov. 28 (Bloomberg) — Ofgem, Britain’s energy regulator,
today published final plans for 17 billion pounds ($26.7
billion) of investments to maintain U.K. electricity networks
and connect cleaner, small-scale power plants to the grid.

The plans on what five of the six companies that run
Britain’s local electricity network can charge customers
starting April 2015 are in line with draft proposals that Ofgem
published in July. With Western Power Distribution LLP’s prices
agreed on earlier, the network investments over the next eight
years will total 24 billion pounds, it said in a statement.

“Today’s plans represent good value for consumers,” Ofgem
Chief Executive Officer Dermot Nolan said. “There will be
significant investment in Britain’s electricity network and
reduced pressure on bills.”

The plans mean customer bills will be reduced by an average
of 11 pounds a year, according to the statement.

“Ofgem expects network companies to step up and take a
more visible and active role in helping customers, particularly
the most vulnerable,” Nolan said.

To contact the reporter on this story:
Louise Downing in London at
ldowning4@bloomberg.net

To contact the editors responsible for this story:
Reed Landberg at
landberg@bloomberg.net
Randall Hackley, Indranil Ghosh

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