Ofgem has fined the company £41.6 million

It has been a bad week for utilities company National Grid, as UK energy regulator Ofgem has fined the company £41.6 million for a breach of competition law. Ofgem has accused National Grid of restricting the development of competition in the domestic gas meter market. Contracts between National Grid and five of the six major energy suppliers included financial penalties for replacing more than the small number of meters allowed under the contract, which Ofgem alleges has severely restricted the rate at which National Grid's older meters can be replaced by cheaper or more advanced meters from rival operators. National Grid has said that it will appeal against the decision.