Scots energy giants hit by over £1bn cuts in green investment budgets – Herald

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Scots energy giants hit by over £1bn cuts in green investment budgets
By Martin Williams Senior News Reporter
SCOTS energy firms have seen their investment plans for the green energy
revolution cut by over £1 billion – while being ordered by the regulator
not to pass on the cost to households.
Ofgem has curtailed the requests of the two major Scottish energy
distributors to invest a total of £7.639bn over the next five years to
upgrade the network to be better able to handle renewable power.
The energy watchdog has told Perth-based SSE owned Scottish and Southern
Electricity Networks (SSEN) and Scottish Power Energy Networks (SPEN) that
their total investment should be £1.098bn (14%) less than asked for.
The operators of the UK’s local energy networks are being forced to spend
more of their profits on investing to future-proof the electricity grid,
after the regulator, Ofgem, said it would not allow any rises in household
Categories: Other News.....

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