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Wednesday, November 29, 2017

Gas network firm to ‘give back’ £145m to Ofgem

Gas network company SGN said it won't be claiming £145 million of allowance agreed under Ofgem's regulatory allowances for projects.

The firm, which operates in Scotland and the south of England and delivers gas to 5.9 million homes and businesses, said the amount under the price control will either be "no longer required or claimed".

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Ofgem said it will result in £84 million being returned to customers.

The regulator welcomed the voluntary contribution, adding it has secured additional savings of more than £4.5 billion for consumers by a combination of reduced revenues or voluntary contributions from companies.

Read the full story at Energy Live News