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Ofgem price controls are accepted

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All of Britain’s four transmission and four gas distribution network companies have accepted the price controls proposed by Ofgem on 4 December 2006.
The proposals come into effect in April this year, and will apply for five years for the transmission companies and one year for the gas distribution companies.
Alastair Buchanan, Ofgem chief executive, said: “The setting of tough and challenging price controls is one of the main ways in which Ofgem is able to protect the interests of present and future gas and electricity customers.
“Further work is already underway in developing our proposals for the gas distribution networks for the period from April 2008. In transmission, it is now for the companies to deliver on the £5bn investment and continue high levels of performance for customers.”

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