HC Deb 13 February 2004 vol 418 c65W
Mr. Stephen O'Brien

To ask the Secretary of State for Trade and Industry what the current replacement rate of assets operated by the national electricity grid is. [152040]

Mr. Timms

Capital expenditure on asset replacement by the National Grid Company plc is currently of the order of £120 million per year, approximately one-third of NGC's total annual capital expenditure under its current regulatory price control. The value of the company's network assets is approximately £5 billion, which gives an average replacement rate of 42 years.

NGC's asset replacement expenditure is based on a careful assessment of asset condition and not on a simple average asset age approach to replacement rate.

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