BusinessCompany NewsE&Y appointed as advisors for Ofgem £10bn licences tender

E&Y appointed as advisors for Ofgem £10bn licences tender

Energy regulator calls in Ernst & Young to help out with the tendering process for £10bn of electricity transmission licences

Ernst & Young is to advise energy regulator Ofgem on the bidding process
to hand out £10bn of licences to operate new offshore power networks
transmitting electricity from wind farms to the mainland.

The Big Four firm will lead a consortium of advisers for the first round of
tenders,
Ofgem
said today
.

Ofgem Chief executive Alistair Buchanan said: ‘I am truly pleased that we
have such high-calibre players as Ernst & Young, Royal Bank of Canada
Capital Markets and Willis forming our advisory team for the tendering rounds
for offshore transmission networks.

‘Offshore wind will occupy a pivotal place in Britain’s low-carbon generation
and we take very seriously the need to ensure that the networks are delivered on
time and at a fair cost to customers.

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