£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.

Ofgem chairman Sir John Mogg said: “National Grid has abused its dominance in the domestic gas metering market, restricting competition and harming consumers.”

National Grid said there was no evidence customers or competition had been harmed and added that it would be lodging an appeal.