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National Grid PLC (NG.L)

NG.L on London Stock Exchange

28 Apr 2017
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Latest Key Developments (Source: Significant Developments)

National Grid says Paul Golby to step down as member of remuneration committee
Friday, 21 Apr 2017 11:28am EDT 

April 21 (Reuters) - National Grid Plc :Paul Golby, non-executive director of co will be stepping down as a member of remuneration committee with effect from 16 May 2017.Paul will continue as a member of audit and nominations committees and chairman of safety, environment and health committee.Andrew Bonfield, finance director of co, steps down as member of safety, environment and health committee, will continue as member of finance committee.  Full Article

National Grid says headline FY results to show higher favourable timing in UK,U.S. businesses
Wednesday, 12 Apr 2017 02:10am EDT 

National Grid Plc : Update on timing impacts for fiscal year 2016/17 . Updates its 2016/17 technical guidance for timing impacts ahead of entering closed period on 18 april 2017. . Group expects headline full-year results to reflect higher favourable timing in both its uk and us businesses . Over-Recoveries primarily relate to out-turn electricity and gas volumes being different to anticipated volumes (e.g. Due to weather) . Additionally, us over-recoveries also benefit from mandated state level collections. . Net benefit to earnings per share in 2016/17 from timing is now expected to be approximately 5p higher than previously estimated .Timing has no impact on long-term performance and this incremental benefit will be returned to customers in future years..  Full Article

National Grid says James Harrison takes over as head of London ops
Thursday, 6 Apr 2017 10:37am EDT 

National Grid Plc : James Harrison takes over as national grid gas distribution's head of operations for London .Predecessor Phil Clarke retires after seven years in post and four decades in gas industry.  Full Article

National Grid agrees on potential sale of further 14 pct stake in gas unit
Friday, 31 Mar 2017 06:30am EDT 

National Grid Plc : Entered agreement with consortium for potential sale of a further 14 pct stake in National Grid Gas distribution at option of National Grid or consortium .Expected consideration for further interest is approximately 0.8 bln stg to be paid in cash and is on broadly similar terms to sale of 61 pct equity interest.  Full Article

National Grid says European Commission cleared sale of 61 pct stake in UK gas distribution business
Thursday, 16 Mar 2017 12:48pm EDT 

National Grid : European Commission cleared sale of a 61 pct equity interest in its UK gas distribution business to a consortium of long-term infrastructure investors .National Grid expects that transaction will complete on 31 March 2017.  Full Article

UK's Ofgem cuts National Grid's spending allowances by 185 mln stg
Friday, 24 Feb 2017 02:25am EST 

UK's Ofgem: Reduces national grid's spending allowances for its transmission price controls . Will reduce National Grid's spending allowances in its current price controls for running high voltage electricity grid, high pressure gas main by 185 million stg. . Changes to National Grid's revenue will take effect from April 2018 . Final changes - reduction in national grid's allowances for high pressure gas pipeline price control by 168.8 million stg. . Opened a consultation on making further changes to price control allowances of transmission and gas distribution companies . Final changes - reduction in national grid's allowances for high voltage electricity grid price control by 38.1 million stg . Consultation includes proposals to reduce national grid gas distribution's allowances by 54 mln stg Further company coverage: [NG.L] (Bengaluru Newsroom) ((+91 806 749 1136;)).  Full Article

National Grid launches share buy-back programme
Monday, 6 Feb 2017 02:00am EST 

National Grid Plc : Share buy-back programme . Has commenced a new programme to repurchase ordinary shares in capital of company during period running from 6 February 2017 to no later than 17 February 2017 . Sole purpose of share buy-back programme is to reduce share capital of company . Share buy-back programme will be managed by Merrill Lynch International .Maximum pecuniary amount allocated to share buy-back programme is £34,983,170.00 and maximum number of ordinary shares that will be purchased is 3,498,317.  Full Article

ITM Power says National Grid consortium wins 7 mln stg Ofgem funding
Wednesday, 30 Nov 2016 05:32am EST 

ITM Power Plc : National Grid HyDeploy consortium wins 7 mln stg Ofgem funding for UK power-to-gas . As part of HyDeploy consortium, it will be supplying a 0.5MW electrolyser to a programme to demonstrate use of blended hydrogen in UK gas grid .Project which will establish a framework for hydrogen gas-grid injection in UK and open up a new UK power-to-gas market.  Full Article

Costain says gets contract worth 113 mln stg by National Grid
Monday, 21 Nov 2016 02:17am EST 

Costain Group Plc : National Grid awards costain contract to upgrade Peterborough and Huntingdon compressor stations . Programme of work is part of National Grid's emissions reduction project and will conclude in 2021 .Has been awarded a contract worth 113 million pounds by National Grid to upgrade its Peterborough and Huntingdon compressor stations..  Full Article

BRIEF-Li Ka-Shing plots bid for 11 bln stg National Grid arm-FT
Thursday, 22 Sep 2016 06:04am EDT 

Corrects currency to pounds from euros in headline.: Shing is assembling a bid for a majority stake in the gas distribution business of National Grid - FT, citing sources . Cheung Kong Infrastructure is leading group of investors likely to submit initial consortium offer by end of week for National Grid - FT, citing sources Source (http://on.ft.com/2dbrP4r) ((Bangalore.newsroom@thomsonreuters.com;)) Keywords: (CORRECTED).  Full Article

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National Grid sees higher full-year earnings

April 12 Gas and electricity distributor National Grid Plc said it expected full-year earnings per share to be 5 pence more than previously estimated due to "higher favourable timing" in both its UK and U.S. businesses.