15th Dec 2006 07:58
National Grid PLC15 December 2006 15 December 2006 National Grid plc UK REGULATORY PRICE CONTROLS: FINAL PROPOSALS National Grid has today accepted in principle Ofgem's final proposals for theTransmission Owner Price Control for the five years from 1 April 2007. Steve Holliday, Chief Executive Designate, said: "We are pleased that Ofgem have moved in all areas since September. We believethat the proposals, although challenging, now offer an acceptable balance ofrisk and reward. "As a result of this review we will substantially increase investment in ourtransmission networks, although some of the investment which we had proposedwill be deferred until the following price control period. Overall, we areconfident that we can deliver this investment and manage our UK transmissionnetworks in a safe, efficient and reliable way, while providing an attractivereturn for investors." National Grid has also today accepted in principle Ofgem's final proposals forthe one-year Gas Distribution Price Control from 1 April 2007. 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)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)Chris Mostyn +44 (0)1926 65 5275 +44 (0)7879 668025(m) Citigate Dewe Rogerson +44 (0)20 7638 9571Anthony Carlisle +44 (0)7973 611888(m) This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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