- Power utility National Grid said it was disappointed with consultation documents published by the UK regulator, claiming certain parameters made it harder to provide fair returns to shareholders.

National Grid said it was particularly disappointed with regulator Ofgem's cost of equity range.

The range did not appropriately reflect the level of risk borne by transmission network operators, National Grid said.

'In order to deliver the major capital programme required across our networks in a rapidly changing energy market, we need to ensure the regulatory framework also provides for fair returns to shareholders and enables us to continue to deliver world class networks for consumers,' the company said.

National Grid said it would need to work through what was a very detailed consultation document.

It planned to provide a detailed response in early 2019.

The consultation was expected to conclude in the second quarter of 2019, with the RIIO 2 price control commencing in April 2021.

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