National Grid considers next steps after court ruling

23rd Feb 2010 15:58

National Grid said it is reviewing its next steps which could include an appeal to the Supreme Court after the Court of Appeal today dismissed its grounds for appealing against a judgement made by the Competition Appeal Tribunal (CAT) in April 2009.The CAT announced in April 2009 that they upheld, in part, Ofgem's 2008 decision that National Grid infringed competition laws by entering into a number of metering contracts with UK gas suppliers in 2004.However, the group said today that it welcomes the Court of Appeal's decision to halve the fine to £15m.National Grid Executive Director, Mark Fairbairn said: 'We are disappointed with the Court of Appeal's decision. We believe our gas metering contracts have delivered substantial financial benefits to our customers in the form of lower metering prices and have neither harmed consumers nor competition.''However, we are pleased that not only has the fine been halved but the Court of Appeal also recognises the border line nature of this case saying "it was not self evident that the arrangements made with the gas suppliers crossed the line into abuse".'