- Power utility National Grid said it would look to provide further evidence to the UK's energy regulator to support its view of the costs of the the Hinkley-Seabank project.

The project involves building the transmission line for the Hinkley Point C nuclear plant.

Regulator Ofgem on Tuesday said it would grant National Grid £637m to build the transmission line, below the £717m it had requested.

'We will review the consultations in detail and will continue to work with Ofgem as part of the ongoing RIIO-T2 negotiation to reach an appropriate outcome that offers value to consumers as well as providing a fair balance of risk and reward,' National Grid said.

'These consultations on Hinkley-Seabank do not affect the delivery of the project, which is progressing well.'

At 1:21pm: [LON:NG.] National Grid PLC share price was +5.6p at 889.4p

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