Brearley dismisses criticism over cut to network returns

Ofgem chief executive Jonathan Brearley has dismissed claims by network companies that its proposed cut to shareholder returns will slow progress toward net-zero emissions, saying they are only trying to squeeze more money out of the regulator. “My job is to look at the evidence, to make sure we’ve made the right decision and then stand firm,” he told reporters. It follows a barrage of criticism, including from Scottish Power CEO, Keith Anderson, who said Brearley had "flunked" his first major test.

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