Ofgem proposes to allow network firms to recover £75m of funding

They recover their allowed revenues from charges to suppliers, who in turn pass these costs to customers through their energy bills

Ofgem proposes £206.8m spending cut for DNOs

Ofgem is proposing reducing allowances across all distribution network operators (DNOs) by £206.8 million. It states the new financial adjustments reflect DNOs’ performance under the previous price control – which ended on 31st March 2015 – when electricity demand was “significantly lower than expected”. As a result, some DNOs did not need to spend as […]

£17bn spending to revamp power networks

Five of the nation’s six network companies will be spending £17 billion to maintain their electricity lines and connect small renewable energy projects to the grid. Ofgem announced on Friday it rubberstamped the cash after first sending the firms back to the drawing board to shave £2.1 billion off their plans. Electricity Northwest, Northern Powergrid, UK […]

National Grid sees UK profit rise 7.7%

National Grid saw operating profit in its UK arm rise in the first six months of 2013 after increasing the amount it charges energy customers. Profit was up 7.7% in the first half of the financial year however a poor performance in the US market dragged the company’s overall profits down. Its total operating profits […]

Ofgem consults on £205m Scottish coastal electricity upgrades

Energy regulator Ofgem is consulting on plans to upgrade a stretch of the electricity network on the Scottish coast for £205million. This is one of several new projects due to be considered by Ofgem between 2013 and 2021. The work will include two subsea cables between the Kintyre peninsula and Hunterston as well as the […]

Leading expert paints a gloomy picture for energy users

Householders and businesses could soon face another round of gas and electricity price hikes, according to an energy expert. Presenting at the Utilities Intermediaries Association (UIA) annual conference, Robert Buckley (pictured), Director of Cornwall Energy painted a gloomy picture for energy prices. He said third party charges and non-commodity costs would go up significantly as […]

National Grid’s profits ‘shameful’ as workers face job losses

Unions have condemned National Grid’s £3.6 billion profits for the last year as they claim hundreds of workers could soon face potential job losses. Whilst energy prices rise and consumers struggle to pay their bills, GMB – the union for workers in the energy sector – said the company’s profits are “shameful”. Gary Smith, GMB’s […]

Ofgem’s new rules for £30bn network upgrade in force now

Ofgem’s new rules on how much energy network companies can charge to support more than £30 billion worth of infrastructure investment plans put forward by them have come into effect this week. The price controls, known as RIIO-ED1 (Revenue = Incentives + Innovation + Outputs-Electricity Distribution), determine the amount network operators can charge for their […]

Major networks upgrade to add £12 on energy bills

Britain’s gas and electricity networks are set to undergo a major upgrade under new plans announced by Ofgem today – adding an extra £12 on household bills. The announcement will enable £24.2 billion for new and upgraded infrastructure up to 2021, more than the £22.7 billion proposed by the regulator earlier this year. The figure […]

Ofgem launches review of electricity network cost

Ofgem has launched its review of the costs of Britain’s 255,000 miles of low voltage electricity network in light of changing to a greener future. The UK needs around £200billion worth of upgrades on its electricity infrastructure over the next decade, so that new forms of renewable energy such as large scale wind turbines and […]