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UPDATE 1-UK limits new energy network fees to 22 bln pounds
Fri, 27th Jul 2012 17:22
LONDON, July 27 (Reuters) - Britain's energy regulator Ofgem on Friday unlocked 22 billion pou
The charges will add around 4 pounds a year to consumer electricity bills and 2 pounds to gas bills as costs to transport power and gas through the networks are passed on to the final user.
'The majority of the proposed investment, around 15 billion pounds, would include the upgrade and renewal of the high voltage electricity network in England and Wales and the high pressure gas networks across Britain,' Ofgem said.
These parts of Britain's energy network are operated by National Grid and improvement projects will include a new sub-sea electricity cable linking England and Scotland.
'We are now examining the further detail of Ofgem's initial proposals. We will be responding to the consultation and working closely with Ofgem in order to add our input into their final proposals in December,' said a spokeswoman for National Grid.
Around 7 million pounds of the package will be dedicated to modernising low-pressure gas networks, the pipelines which deliver gas to homes and businesses.
The 22 billion pound price control comes on top of a 7.7 billon pound investment from network charges approved in April for Scotland's network operators. ($1 = 0.6364 British pounds)
(Reporting by Karolin Schaps; Editing by Anthony Barker) Keywords: NATIONALGRID/BRIEF
(karolin.schaps@thomsonreuters.com)(+44)(0)(207 542 6622)(Reuters Messaging: karolin.schaps.reuters.com@reuters.net)
COPYRIGHT
Copyright Thomson Reuters 2012. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
nds ($34.6 billion) to upgrade Britain's electricity and gas networks between 2013-2021 by setting the sum operators can charge clients for transmission services, the authority said.
The charges will add around 4 pounds a year to consumer electricity bills and 2 pounds to gas bills as costs to transport power and gas through the networks are passed on to the final user.
'The majority of the proposed investment, around 15 billion pounds, would include the upgrade and renewal of the high voltage electricity network in England and Wales and the high pressure gas networks across Britain,' Ofgem said.
These parts of Britain's energy network are operated by National Grid and improvement projects will include a new sub-sea electricity cable linking England and Scotland.
'We are now examining the further detail of Ofgem's initial proposals. We will be responding to the consultation and working closely with Ofgem in order to add our input into their final proposals in December,' said a spokeswoman for National Grid.
Around 7 million pounds of the package will be dedicated to modernising low-pressure gas networks, the pipelines which deliver gas to homes and businesses.
The 22 billion pound price control comes on top of a 7.7 billon pound investment from network charges approved in April for Scotland's network operators. ($1 = 0.6364 British pounds)
(Reporting by Karolin Schaps; Editing by Anthony Barker) Keywords: NATIONALGRID/BRIEF
(karolin.schaps@thomsonreuters.com)(+44)(0)(207 542 6622)(Reuters Messaging: karolin.schaps.reuters.com@reuters.net)
COPYRIGHT
Copyright Thomson Reuters 2012. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
