National Grid

£41m meters fine for National Grid

UK Power distributor National Grid has been fined £41.6m ($80m USD) for restricting competition in the UK’s gas metering market.

Energy regulator Ofgem said the company, which owns 99% of the UK’s gas meters, had “severely restricted” rival suppliers from replacing its equipment with cheaper or more advanced devices

Threat of $20m fine for Blackouts

National Grid, the firm in charge of supplying electricity to England and Wales, could face fines of up to $20m (£12m) a year in the event of major power cuts.

Regulator Ofgem announced the penalties as part of an incentive scheme to improve the firm’s record on blackouts.

The move follows Ofgem’s investigation of two large power cuts in the South East and West Midlands in 2003