By Ed Ballard
LONDON--The U.K.'s energy regulator Ofgem said the companies
that run the U.K.'s electricity network will spend 17 billion
pounds ($28.8 billion) on upgrading and maintaining Britain's local
grid infrastructure.
The proposals, which take effect in April and run until 2023,
will reduce the amount customers pay to cover electricity grid
investment by GBP12 pounds a year, Ofgem said.
Ofgem's proposals cover the investment and pricing plans of five
of the U.K.'s six grid operators: U.K. Power Networks, Northern
Power Grid, Scottish Power's Energy Networks division, SSE PLC's
Power Distribution division, and Electricity North West.
About GBP2.1 billion has been cut from the companies' original
plans after analysis by the companies and Ofgem found ways to
improve value for money, Ofgem said.
The sixth company, Western Power Distribution, had its pricing
plan backed by Ofgem last year.
Write to Ed Ballard at ed.ballard@wsj.com
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