National Grid’s $68 Billion Plan to Be Approved, Telegraph Says

Britain’s energy watchdog, Ofgem, is expected to approve National Grid Plc (NG/)’s proposed spending of as much as 44 billion pounds ($68.4 billion) on improving the country’s energy infrastructure, the Sunday Telegraph reported.

National Grid’s proposal calls for more than 21 billion pounds to be spent on its electricity transmission network and 9 billion pounds on gas pipelines, according to the report. The announcement is “imminent,” the newspaper said, without saying where it got the information.

To contact the reporter on this story: Maria Kolesnikova in London at mkolesnikova@bloomberg.net

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net

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