Nov 15 Britain's biggest energy distributor
National Grid Plc reported a 21 percent rise in
first-half profit and said restoration costs outside The Long
Island Power Authority service area are not expected to be more
than 100 million pounds ($158.5 million).
The company, which provides gas and electricity transmission
and distribution services in the United Kingdom and the United
States, said pretax profit from continuing operations for the
six months ended Sept. 30 was 1.15 billion pounds ($1.82
billion), compared with 953 million pounds a year earlier.
National Grid contracts with The Long Island Power Authority
(LIPA)to run the day-to-day operations of its electric utility
business and has been in the news in the past few weeks after
more than 90 percent of LIPA's 1.1 million customers lost power
due to Superstorm Sandy.