UK Regulator Hits National Grid With $12.4M Fine

Law360, New York (January 6, 2011, 12:35 PM EST) -- The U.K.'s Office of Gas and Electricity Markets has slapped National Grid PLC with a proposed £8 million ($12.4 million) penalty for breaching its license obligations to provide accurate information about a mains replacement program.

Ofgem said Thursday that the penalty would have been steeper if not for National Grid's cooperation and corrective steps following the company's discovery of the misreporting.

The violation involved data that National Grid must report to the regulator regarding its progress in a mains replacement program, with breaches that included different...
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