UK energy regulator weighs penalty exemption for National Grid venture
April 10 (Reuters) - Britain's energy regulator Ofgem said on Thursday it was considering whether to reject a penalty exemption application for an electricity transmission joint venture between National Grid (NG.L), opens new tab and SP Transmission.
The Eastern Green Link 1 (EGL1) project, being built by Iberdrola's (IBE.MC), opens new tab Scottish Power Energy Networks and National Grid Electricity Transmission, consists of subsea and underground cables linking Scotland to north-east England.
Ofgem said the joint venture had requested a 480-day exemption from penalties related to project completion delays, due to global supply chain issues and capacity shortages.
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