Ofgem proposes cutting National Grid budget by 185.4 million pounds

(Reuters) - Britain's energy regulator Ofgem has proposed scrapping some 185.4 million pounds worth of power and gas projects due to be undertaken by National Grid, it said on Thursday. Ofgem, which sets the amount of cash which is granted to National Grid to improve and maintain the country's electricity and gas distribution networks, launched a review into some transmission projects in May. Its biggest proposed cutback to National Grid's budget relates to a 168.8 million-pound Avonmouth gas pi