U.K. electricity market regulator Ofgem Friday said it has sent back business plans from five out of the six U.K. electricity distributors as they don't sufficiently demonstrate value for customers.
U.K.
electricity market regulator Ofgem Friday said it has sent back business plans
from five out of the six
U.K.
electricity distributors as they don't sufficiently demonstrate value for
customers.
The regulator said the plan from Western Power Distribution, which serves south
Wales
, the
Midlands
and
the south west of
England
, is
the only one to demonstrate good value for customers. The other operators,
which include
Scotland-
and
south England-focused SSE PLC (SSE.LN) and
Northern Powergrid
, will
have to resubmit their plans in March, Ofgem said.
The plans are for price controls that come into effect
1 April, 2015
.
"We are pleased that nearly all companies have pledged to cut bills, but
we feel that most companies can go further in cutting their costs and expect to
see further improvements when they resubmit their plans in March," said
Hannah Nixon, Senior Partner for Distribution at Ofgem.
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