(Alliance News) - The UK Competition & Markets Authority on Thursday said it gave permission to National Grid PLC to appeal licence changes made by the energy regulator, Ofgem.
National Grid said on March 2 that it accepted most of Ofgem's changes to price controls, but it will appeal the proposed cost of equity and the outperformance wedge, which it called "conceptually and practically flawed".
The appeal process will begin this month, and National Grid expects provisional findings in July and a final decision in early October, the company said on March 2.
National Grid shares were down 0.4% to 860.70 pence in London. The wider FTSE 100 index was up 0.4%.
SSE PLC's appeal against Ofgem's changes was rejected by the CMA on March 30.
By Ivan Edwards; ivanedwards@alliancenews.com
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