The energy regulator has vowed to squeeze the profits of companies that run Britain’s electricity distribution networks to reduce household bills. Ofgem said that the next regulatory settlement for the operators of the low-voltage cabling infrastructure such as SSE, Scottish Power and UK Power Networks would cut company returns and save consumers money. The six regional power network companies, which also include Electricity North West, Western Power Distribution and Northern Powergrid, are subject to multi-year “price controls”. These determine their spending and revenues, which are funded by levies on energy bills. Ofgem has been under pressure to reduce returns after criticism that those permitted in the present price controls had been unduly generous at the expense of consumers.
Times 18th Dec 2019 read more »
FT 17th Dec 2019 read more »
Telegraph 17th Dec 2019 read more »