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| Name | Symbol | Market | Type |
|---|---|---|---|
| Iberdrola SA (PK) | USOTC:IBDRY | OTCMarkets | Depository Receipt |
| Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.38 | 0.77% | 49.70 | 49.27 | 49.98 | 49.78 | 49.45 | 49.68 | 56,956 | 21:05:46 |
From Apr 2021 to Apr 2024
By Jaime Llinares Taboada
National Grid Electricity Transmission PLC and Scottish Power Transmission PLC have agreed to pay a 158 million-pound ($210.4 million) redress for delays to the Western Link subsea cable, Britain's energy regulator Ofgem said Tuesday.
The companies are owned by National Grid PLC and Iberdrola SA, respectively.
Ofgem said the two-year delay made it difficult for renewable-energy generators in Scotland to export power to England and Wales.
"Because renewable generators in Scotland were unable to transport the energy they were generating, National Grid ESO would have sometimes had to reduce the output from windfarm generators to protect the electricity system. This ultimately led to higher costs for consumers," Ofgem said.
The GBP1.2 billion Western Link project provides a subsea link between Scotland and Wales with capacity for 2,250 megawatts of power.
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT
(END) Dow Jones Newswires
November 30, 2021 04:59 ET (09:59 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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