UK Regulatory Announcement: Insider information

LONDON–(BUSINESS WIRE)– 

NORTHERN GAS NETWORKS FINANCE PLC

(LEGAL ENTITY IDENTIFIER: 213800KZQUVA8TJZFL60)

Decision on Ofgem’s RIIO-2 Final Determination

4 March 2021

Northern Gas Networks Limited (“NGN“), the guarantor under Northern Gas Networks Finance plc’s existing bonds, has decided to appeal Ofgem’s RIIO-2 Final Determination to the Competition and Markets Authority (“CMA”).

The outcome of the appeal is expected in Autumn 2021.

NGN’s grounds of appeal will centre on four key issues: Ofgem’s approach to calculating the Cost of Equity, the inclusion of an Outperformance Wedge, Ongoing Efficiency and the level of incentive offered to the Frontier Company.

Inside Information

This announcement is released by Northern Gas Networks Finance plc and contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 (“MAR”). For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is made by Alex O’Connell (Legal Director & Company Secretary) at Northern Gas Networks Finance plc.

Enquiries

For further information, please contact:

Ian Clark

1100 Century Way

Thorpe Park Business Park

Colton

Leeds LS15 8TU

Email: [email protected]

Contacts

Northern Gas Network Finance Plc