UK regulator cuts proposed earnings cap for Norway power link

(Reuters) - British energy regulator Ofgem said on Tuesday it has revised down provisional upper and lower levels for National Grid's annual revenues from a planned electricity interconnector to Norway by around 30 percent, meaning British consumers were likely to benefit more than previously expected. The revisions mean that National Grid's revenues from the cable operations under the cap and floor regime will be lower, while consumers were more likely to get a reduction in high voltage grid ch