Ofgem to cut £200m from network revenues

The energy regulator is making good on its threat to toughen up on electricity network operators by cutting £200m from their revenues after a review of their investments. Network firms – which include UK Power Networks, SSE, Scottish Power and Western Power Distribution – spent less than planned between 2010 and 2015, giving Ofgem the grounds to cut their allowed revenues from customer bills to help ease the upward pressure on energy tariffs.