Under agreement with Ofgem, network operator will return electricity funds early
Households in Great Britain struggling with soaring energy bills are to benefit after National Grid agreed to bring forward a £200m payment to customers generated from its electricity cables to Europe.
Under an agreement with the watchdog, Ofgem, the energy network operator must pay back revenues made from subsea cables – which connect the electricity systems of neighbouring countries – over a five-year period above a cap.
National Grid, Energy industry, Ofgem, Business, Utilities, Energy bills, Consumer affairs, Household bills, Money, UK news UK news | The Guardian