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< EDF and Gazprom set for deal on South Stream gas pipeline | Round 3 offshore wind winners announced >
DNOs accept Ofgem's electricity distribution price control proposals
All seven owners of Britain's electricity distribution networks have accepted Ofgem's final proposals for the 2010-2015 price control.
The seven companies between them own the 14 regional networks which transport electricity from the national grid to homes and businesses. Over the next five years they will be able to invest up to £7.2 billion in the upgrading their networks.
This includes a £500 million sustainability fund allowing them to undertake large-scale trials of smart grids and other technology required in a low carbon economy. The impact on household electricity bills will be an increase of £4.30 per year on average across the country. The new price control will run from April 1 until March 31 2015.
Steve Smith, Ofgem's senior partner on local grids, said: "We have set a tough but fair price control for the companies so they can invest to maintain high performance and adapt their networks to the low-carbon economy".
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