18th Dec 2007 07:01
National Grid PLC18 December 2007 18 December 2007 National Grid plc UK Gas Distribution Regulatory Price Controls: Final Proposals National Grid has today accepted in principle Ofgem's final proposals for theGas Distribution Price Control for the five years from 1 April 2008. Steve Holliday, Chief Executive, said: "We are pleased that Ofgem have moved in all areas since September, and webelieve that the proposals, although presenting real challenges in meeting theoperating cost assumptions, now offer an acceptable balance of risk and reward. "As a result of this review, investment in our gas distribution networks in theUK will be significantly higher than in previous regulatory periods. We areconfident that we can deliver this investment and manage our networks in a safe,efficient and reliable way, while providing a superior return for investors. "National Grid operates under 20 main regulatory controls - completing thisreview means that we now have 17 of them in place for the coming period and webelieve that this regulatory stability leads to a lower risk profile and greatervisibility for our business." National Grid will now work closely with Ofgem on the formal licencemodifications. Contacts InvestorsDavid Rees +44 (0)20 7004 3170 +44 (0)7901 511322(m)George Laskaris +1 718 403 2526 +1 917 375 0989(m)Richard Smith +44 (0)20 7004 3172 +44 (0)7747 006321(m)James Waite +44 (0)20 7004 3171 +44 (0)7977 440902(m) MediaClive Hawkins +44 (0)20 7004 3147 +44 (0)7836 357173(m) Brunswick: Paul Scott +44 (0)20 7404 5959 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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