'No electricity investment crisis', Ofgem says
The UK gas and power industry regulator Ofgem has reportedly refuted allegations that investment in electricity generating infrastructure has slumped in the years since privatization in the 1990s.
The Guardian newspaper reports that Ofgem is to publish a document outlining the level of investment that has gone into the UK's power and gas infrastructure over the past two decades. The newspaper report also says that import capacity will cover 90% of the UK's gas and power needs by 2009, according to Ofgem. Steve Smith, Ofgem's managing director of markets, was quoted by the Guardian as saying that, investment of over GBP44 billion has been made in generation and gas and electricity networks (over the last 20 years) - significantly higher than before privatization.
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