October 15, 2019 / 6:29 AM / a month ago

UK regulator looks to cut costs of new Hinkley Point grid link

Oct 15 (Reuters) - British energy market regulator Ofgem said it would grant National Grid Plc 637 million pounds ($803.38 million) to build the transmission link for the Hinkley Point C nuclear plant, lower than the company’s initial request for 717 million pounds.

Ofgem said on Tuesday consumers will save money under its plans to reduce National Grid Electricity Transmission's (NGET) funding request to connect the new Hinkley Point C nuclear reactor to the grid. (bit.ly/2piprDs)

Ofgem’s move comes after EDF said last month that its Hinkley Point C nuclear plant could cost up to 2.9 billion pounds more than its last estimate, and face further delays. ($1 = 0.7929 pounds) (Reporting by Noor Zainab Hussain in Bengaluru; Editing by Shounak Dasgupta)

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