Ofgem Mulls National Grid Request To Recoup Costs on SSE, Drax Contracts
June 08 2016 - 3:07AM
Dow Jones News
By Ian Walker
LONDON--U.K. energy regulator Ofgem said Wednesday is consulting
on a request by National Grid PLC (NG.LN) to recover the costs of
two services contracts which the network operator agreed with SSE
PLC (SSE.LN) and Drax PLC (DRX.LN), two British power
companies.
National Grid said it has spent "significantly" more money than
agreed with the regulator in providing the services, hence its
application to recover the costs.
The contracts are worth 113 million pounds ($164.43 million) in
total.
The consultation will close on July 6 and Ofgem plans to issue a
decision by Aug. 24.
-Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749
(END) Dow Jones Newswires
June 08, 2016 02:52 ET (06:52 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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