12th May 2016 09:11
LONDON (Alliance News) - The government regulator for the gas and electricity market Ofgem said it has opened a mid-period review into price controls for two of National Grid PLC's subsidiaries.
National Grid owns the electricity transmission system in England and Wales.
Ofgem said it will conduct the mid-period review into both the National Grid Electricity Transmission and National Grid Gas Transmission companies, having first set the price controls in 2013 to run until 2021.
Ofgem said it will consult on proposals for any changes to outputs and associated revenue this summer. A decision on the proposals will be made in late autumn 2016, with any changes to take effect from April 1, 2017, the company added.
Ofgem noted that it has not identified any issues to justify a mid-period review for the 2013-2021 electricity transmission price controls of SP Transmission PLC and Scottish Hydro Electric Transmission PLC, which maintain the electricity transmission network in Scotland, or for the 2013-2021 gas distribution price control.
SP Transmission PLC is a subsidiary of ScottishPower Ltd and is responsible for the transmission of electricity in central and southern Scotland, whilst Scottish Hydro Electric Transmission is a subsidiary of SSE PLC, and managed electricity transmission in northern Scotland.
Shares in National Grid were up 0.7% at 1,003.50 pence on Thursday.
By Hannah Boland; [email protected]; @Hannaheboland
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