National Grid accepts Ofgem's TOPC proposal

UK power grid operator National Grid has accepted in principle UK energy regulator Ofgem's final proposals for the Transmission Owner Price Control for the five years beginning April 1, 2007, in which the regulator offered a 4.4% post-tax rate of return on capital.

"We believe that the proposals, although challenging, now offer an acceptable balance of risk and reward," says Steve Holliday, chief executive designate of National Grid. "As a result of this review we will substantially increase

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