LONDON Jan 30 Energy network operator National
Grid said on Thursday its outlook for the full year remained
positive and it maintained its 2013/14 capital investment of
around 3.5 billion pounds ($5.79 billion).
"We reconfirm our positive outlook for 2013/14 - overall, we
are well positioned to deliver another year of good operating
performance and sustainable dividend growth," National Grid
chief executive Steve Holliday said in statement.
The firm, which operates power cables and gas pipelines in
Britain and the U.S., said its assets have performed well in
recent weeks in tough weather conditions.
An ice storm in the U.S. resulted in 150,000 customers
losing power supply due to damage to the electricity
distribution system. In Britain, flooding and storms caused
energy supply outages.
"Disruption and costs related to extreme weather to date
have been much lower than in the previous two years," National
Grid said, without providing financial details.
In 2012/13, major storms shaved 136 million pounds off the
company's operating profit.
National Grid also said it will offer, if required, two new
mechanisms to reduce energy demand and provide additional power
supply in Britain from the winter of 2014/15, after they were
approved by regulator Ofgem in December.
Britain is facing a potential electricity supply crunch from
next winter as old and polluting power plants are closing more
quickly than new ones are being built to replace them.