BRIEF-Ofgem Announces Anglo-Scottish Electricity Superhighway Funding

OFGEM: * PROPOSED ANGLO-SCOTTISH ELECTRICITY SUPERHIGHWAY TO POWER MILLIONS OF HOMES FIRST TO PROGRESS THROUGH FAST TRACK OFGEM PROCESS

* FIRST PROJECT TO PROCEED UNDER A NEW FAST TRACK PROCESS HAS RECEIVED A PROVISIONAL £2BILLION FUNDING PACKAGE * £2BILLION FUNDING PACKAGE TO DELIVER A SUBSEA ENERGY SUPERHIGHWAY WHICH COULD CONNECT UPTO TWO MILLION HOMES TO CLEAN ENERGY.

* SCRUTINISED COSTS PROPOSED BY DEVELOPERS AND IDENTIFIED £43M THAT COULD BE CUT FROM INDIRECT COSTS * PROJECT IS ALSO SUBJECT TO IT SECURING FUTURE PLANNING PERMISSION IN A PROCESS OVERSEEN BY PLANNING INSPECTORATE. Source text for Eikon: Further company coverage: [ ]