The energy regulator has provided some relief from rising energy costs by announcing measures that will reduce bills by about £45 a year from 2021. Ofgem said it would “drive a hard bargain” with companies that run the wires and pipes that supply the UK’s electricity and gas, halving the level of returns they can make. Consumer groups welcomed the move, saying networks had “had it too good for too long” and urging the regulator to “hold its nerve” against the inevitable industry pushback. National Grid shares fell by nearly 4% and the company said it was disappointed by the decision, which it believes does not reflect the “level of risk borne by transmission networks”. The company runs the national electricity grid and accounts for about 3% of a typical bill.
Guardian 18th Dec 2018 read more »
FT 18th Dec 2018 read more »