UK Power Regulator Speeds Up £7.7B Grid Upgrade Plans

Law360, New York (January 23, 2012, 1:14 PM EST) -- The U.K.'s Office of Gas and Electricity Management will fast-track proposals from two leading energy companies to invest £7.7 billion ($12 billion) over the next decade to upgrade Scotland's aging electricity network, Ofgem said Monday.

Scottish Hydro Electric Transmission Ltd., SSE PLC's transmission unit, and ScottishPower Energy Networks, a division of Spain's Iberdrola SA, will be able to more quickly implement their capital spending plans, which include £2.9 billion in committed investment, with a potential for up to £4.7 billion more by 2021, Ofgem said....
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