UK Energy Regulator Sets Out to Cut Bills GBP15-GBP25 a Year by 2021
By Ian Walker
The U.K. energy regulator Ofgem said Wednesday that it is proposing new price controls that will cut household bills by between 15 pounds ($20.82) and GBP25 a year from 2021.
The proposal will also lower returns for investors Ofgem said, noting that if it were in force today the equity range--or amount energy companies pay their shareholders--would be between 3% and 5%.
Ofgem said it will finalize the new regulatory framework for setting the next price controls this summer, and expects its final ruling to be published by the end of 2020.
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(END) Dow Jones Newswires
March 07, 2018 02:56 ET (07:56 GMT)Copyright (c) 2018 Dow Jones & Company, Inc.