National Grid: Ofgem Proposals 'a Step in the Right Direction'

Date : 03/15/2019 @ 7:49AM
Source : Dow Jones News
Stock : National Grid Transco, Plc National Grid Plc (New) American Depositary Shares (NGG)
Quote : 58.2  0.07 (0.12%) @ 4:00AM
National Grid share price Chart

National Grid: Ofgem Proposals 'a Step in the Right Direction'

National Grid (LSE:NG.)
Historical Stock Chart

1 Month : From Feb 2019 to Mar 2019

Click Here for more National Grid Charts.
   By Ian Walker 
 

National Grid PLC (NG.LN) said Friday that the RIIO-T2 price-control proposals from energy regulator Ofgem are a step in the right direction, but that it still has concerns.

The company said the proposals as currently set out won't bring the changes consumers need.

"Our vision is of an energy future where bills are kept low for consumers, energy is decarbonized, innovation is encouraged and which together support the growth and prosperity of the UK economy," National Grid said.

Late last year Ofgem said that it intends to set baseline returns to shareholders at 4% for the next regulatory period from 2021, about half the previous limit. This is at the bottom end of previous guidance in March 2018, when the regulator said it would propose a range of between 4% and 6%.

Ofgem said previously that it expects the change, along with adjustments to borrowing costs, to save consumers 6.5 billion pounds ($8.6 billion) overall. Ofgem has launched a consultation on the proposals to close in the second quarter of 2019.

 

Write to Ian Walker at ian.walker@wsj.com

 

(END) Dow Jones Newswires

March 15, 2019 03:34 ET (07:34 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

Latest NGG Messages

{{bbMessage.M_Alias}} {{bbMessage.MSG_Date}} {{bbMessage.HowLongAgo}} {{bbMessage.MSG_ID}} {{bbMessage.MSG_Subject}}

Loading Messages....


No posts yet, be the first! No {{symbol}} Message Board. Create One! See More Posts on {{symbol}} Message Board See More Message Board Posts
Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:us D:20190324 08:46:09