Energy networks statement to The Sun

?         Section 1.”The use of profit margin is misleading. For every £1 of profit we reinvest approximately £1.40 in the energy networks.”

 

?         Section 2: We do not comment on individuals’ remuneration packages and personal circumstances.

 

?         Section 3: “Our prices are agreed by Ofgem and we are continually scrutinised by Government, Parliament and the regulator.  Since 1990 network bills have come down by almost a fifth and currently stand at 35p per day.”

 

Notes to editors

 

?         Energy network companies are responsible for ensuring gas and electricity reach millions of people every day – in their homes, where they work, where they play, everywhere. They are the people who repair the power lines and pipes.

 

?         Network companies are responsible for operating and maintaining 1 million km of electricity cables across the UK (35p / day) and 272,000km of gas pipelines (35p / day).

 

?         Regular satisfaction surveys conducted by Ofgem with a range of customers show consistent satisfaction of more than 80% in the services provided by network companies, putting networks above any energy supply company, higher than many high-street retailers and amongst the very best performers in the UK Customer Satisfaction Index.

 

?         Energy networks are a major economic asset that is worth some £62bn and another £45bn is forecasted to be invested in the next six years. Capital expenditure has increased by 50%.

 

?         Since privatisation the energy networks have delivered significant levels of investment and improved levels of reliability and customer service, all whilst reducing network costs to the customer by 17%.

 

?         Network costs are expected to remain broadly flat in the coming years and in some cases fall. Ofgem analysis shows that between 1990 and 2006 the total cost of running the GB electricity and gas networks fell 45%.