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Name | Symbol | Market | Type |
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Rwe Ag (PK) | USOTC:RWEOY | OTCMarkets | Depository Receipt |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
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0.00 | 0.00% | 30.16 | 30.16 | 30.16 | 0.00 | 00:00:00 |
By Ian Walker
U.K. energy regulator Ofgem said Tuesday that it has launched an investigation into the Aug. 9 power cuts that brought large parts of the U.K. to a standstill.
The regulator said that it will investigate whether the parties involved breached their license conditions. It added that while the investigation doesn't indicate that any noncompliance issues have been found, enforcement action could follow if any are discovered.
Parties involved include National Grid ESO, National Grid Electricity Transmission, 12 distribution network operators in England and Wales, as well as generators RWE Generation (Little Barford Power station) and Orsted (Hornsea).
Ofgem said it is also liaising with the rail regulator and will be engaging with rail authorities to understand better why the drop in frequency on the energy network led to disruption for passengers.
"The power cuts of Friday Aug. 9 caused interruptions to consumers' energy and significant disruption to commuters. It's important that the industry takes all possible steps to prevent this happening again," Ofgem's Executive Director of Systems and Networks Jonathan Brearley said.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
August 20, 2019 02:55 ET (06:55 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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