Networks penalised more than £140m over quality and cost of business plans

Ofgem has proposed to penalise gas and electricity networks by more than £140 million based on the poor cost and quality of their business plans for the RIIO2 price controls. Director of network price controls Akshay Kaul said their failure to provide sufficient detail and clarity contributed to the regulator’s decision to disallow £8.4 billion of requested expenditure.

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