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National Grid PLC (NG.L)

NG.L on London Stock Exchange

830.60GBp
23 Oct 2018
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Latest Key Developments (Source: Significant Developments)

National Grid Concludes Disposal Of Former Gasworks North Of Church Way In Doncaster
Wednesday, 10 Oct 2018 09:18am EDT 

Oct 10 (Reuters) - National Grid PLC ::NATIONAL GRID PROPERTY CONCLUDED DISPOSAL OF FORMER GASWORKS NORTH OF CHURCH WAY IN DONCASTER FOR UNDISCLOSED PRICE - DEAL BROKER BNP PARIBAS.PURCHASER OF NATIONAL GRID PROPERTY WAS LAZARUS PROPERTIES - DEAL BROKER BNP PARIBAS.  Full Article

National Grid Responds To Ofgem On RIIO-2 And HSB Project
Monday, 30 Jul 2018 02:07am EDT 

July 30 (Reuters) - National Grid PLC ::NATIONAL GRID RESPONDS TO OFGEM ON RIIO-2 AND HSB.HSB PROJECT IS EXPECTED TO HAVE A TOTAL COST OF AROUND £650M.WILL NOW REVIEW DETAILED DECISION BY OFGEM; CONSIDER ALL OF OPTIONS PRIOR TO OFGEM FORMALLY IMPLEMENTING PROPOSALS INTO LICENCE.OFGEM'S DECISION DOES NOT AFFECT COMMITMENT TO DELIVERING HSB TO TIME AND TO QUALITY AS PER LICENCE OBLIGATIONS.  Full Article

‍J Murphy & Sons Says Acquired Carillion's Uk Power Framework Business
Wednesday, 7 Feb 2018 05:53am EST 

Feb 7 (Reuters) - ‍J MURPHY & SONS::ANNOUNCED HAS ACQUIRED CARILLION'S UK POWER FRAMEWORK BUSINESS FOR AN UNDISCLOSED SUM​.‍MURPHY ALSO BECOMES NEW JOINT VENTURE PARTNER OF ELTEL FORMING MEJV ON OVERHEAD LINE AND T PYLON FRAMEWORK​.‍AGREEMENT MEANS CO TAKES OVER CARILLION'S POSITION ON NATIONAL GRID'S ELECTRICITY OVERHEAD LINES, SUBSTATION AND UNDERGROUND CABLE FRAMEWORK CONTRACTS​.‍CARILLION EMPLOYEES WILL JOIN MURPHY, BROADENING ENERGY INFRASTRUCTURE SERVICES OFFERED TO THEIR POWER CUSTOMERS.  Full Article

National Grid ‍Anticipates Non-Cash Tax Credit Of Around $2 Bln
Friday, 2 Feb 2018 02:00am EST 

Feb 2 (Reuters) - National Grid Plc ::‍ANTICIPATES THAT THERE WILL BE A NON-CASH TAX CREDIT OF AROUND $2 BILLION DUE TO REVALUATION OF CERTAIN DEFERRED TAX BALANCES​.‍CREDIT WILL BE REFLECTED AS AN EXCEPTIONAL ITEM AND IS EXPECTED TO BE RETURNED TO CUSTOMERS OVER A PERIOD OF 20 TO 30 YEARS​.‍THERE WILL BE NO OTHER MATERIAL IMPACT ON RESULTS FOR FINANCIAL YEAR ENDING 31 MARCH 2018​.  Full Article

‍National Grid Says Intends To Work Constructively With Ofgem In Coming Weeks​
Tuesday, 23 Jan 2018 02:20am EST 

Jan 23 (Reuters) - National Grid Plc ::‍NATIONAL GRID RESPONDS TO OFGEM'S HINKLEY CONSULTATION​.SAYS BELIEVE THAT OFGEM HAS SIGNIFICANTLY OVERESTIMATED POTENTIAL CONSUMER SAVINGS IN THEIR CONSULTATION​.‍"WE HAVE PREPARED FOR A NUMBER OF FINANCIAL SCENARIOS"​."‍ALSO BELIEVE THAT OFGEM HAS SIGNIFICANTLY OVERESTIMATED POTENTIAL CONSUMER SAVINGS IN THEIR CONSULTATION"​.‍INTENDS TO WORK CONSTRUCTIVELY WITH OFGEM IN COMING WEEKS​.‍DON'T BELIEVE PROPOSED RANGES FOR COST OF DEBT, COST OF EQUITY IN CONSULTATION REFLECT ACTUAL COST OF FINANCING PROJECT OR RISK TAKEN.‍"WE WILL ALSO CONSIDER ALL OTHER OPTIONS AVAILABLE TO US IF WE ARE NOT ABLE TO PROGRESS THIS SATISFACTORILY"​.‍HSB PROJECT EXPECTED TO HAVE TOTAL COST OF AROUND £650M.  Full Article

National Grid HY ‍adjusted operating profit up 4 pct to 1.4 bln stg​
Thursday, 9 Nov 2017 02:09am EST 

Nov 9 (Reuters) - National Grid Plc :NATIONAL GRID PLC - ‍OUTLOOK FOR YEAR IS UNCHANGED​.HY ‍ADJUSTED OPERATING PROFIT, EXCLUDING TIMING UP 4% TO £1.4BN​.NATIONAL GRID PLC - ‍FOCUSED ON COMPLETING RATE FILINGS IN US, CONTINUING "PROACTIVE DISCUSSIONS" WITH OFGEM AHEAD OF NEXT REGULATORY SETTLEMENT IN 2021​.HY ‍ADJUSTED EPS OF 18.5P​.NATIONAL GRID PLC - ‍HY INTERIM DIVIDEND OF 15.49P, INCREASED IN LINE WITH POLICY​.NATIONAL GRID PLC - ‍2017/18 INTERIM DIVIDEND OF 15.49P REPRESENTS A 0.32P (2.1%) INCREASE OVER INTERIM DIVIDEND FOR YEAR ENDED 31 MARCH 2017 OF 15.17P​.NATIONAL GRID PLC - FY ‍FINANCIAL PERFORMANCE WILL BE SIGNIFICANTLY WEIGHTED TO SECOND HALF, PRIMARILY DUE TO SEASONALITY OF US REGULATED PROFITS​.HY ‍CAPITAL INVESTMENT OF £2.0 BILLION, UP 7% (4% AT CONSTANT CURRENCY)​.NATIONAL GRID PLC-FOR 2017/2018 ‍NET REVENUE (EXCLUDING TIMING) IS EXPECTED TO DECREASE, WITH APPROXIMATELY A £70M REDUCTION IN REVENUE ALLOWANCES.NATIONAL GRID - FY ‍PERFORMANCE IN US BUSINESS IS EXPECTED TO IMPROVE YOY DRIVEN BY FY OF NEW RATES IN DOWNSTATE NEW YORK GAS,MASSACHUSETTS ELECTRIC UNITS.NATIONAL GRID PLC - FY ‍CAPITAL INVESTMENT IS EXPECTED TO INCREASE TO OVER £4BN​.FOR 2017/2018 ‍TOTEX OUTPERFORMANCE FOR UK ELECTRICITY TRANSMISSION IS EXPECTED TO BE BROADLY IN LINE WITH 2016/17.NATIONAL GRID - ‍IN UK TRANSMISSION, FY TOTEX EXPECTED TO REMAIN CONSISTENT ALTHOUGH INCENTIVE PERFORMANCE, LEGACY ALLOWANCES EXPECTED TO DECLINE​.  Full Article

Drax comments on National Grid's winter outlook report
Thursday, 12 Oct 2017 07:04am EDT 

Oct 12 (Reuters) - DRAX GROUP PLC ::DRAX POWER CEO ANDY KOSS RESPONDS TO NATIONAL GRID'S WINTER OUTLOOK REPORT 2017/18.‍"HAS UPGRADED HALF OF POWER STATION IN NORTH YORKSHIRE TO RUN ON BIOMASS INSTEAD OF COAL - 70 PCT OF OUR OUTPUT IS NOW RENEWABLE" - DRAX POWER CEO​."‍EXPLORING LOW COST OPTIONS FOR UPGRADING A FOURTH GENERATING UNIT FROM COAL TO BIOMASS" - DRAX POWER CEO​.  Full Article

UK's Ofgem removes 277.5 mln stg funding from National Grid
Friday, 4 Aug 2017 02:42am EDT 

Aug 4 (Reuters) - UK's OFGEM::UK'S OFGEM - REMOVING £277.5 MILLION FUNDING FROM NATIONAL GRID’S PRICE CONTROL ALLOWANCE.UK'S OFGEM - ALSO DECIDED TO REDUCE NATIONAL GRID’S OBLIGATION TO PROVIDE CAPACITY AT FLEETWOOD FROM 650 GIGAWATT HOURS (GWH) PER DAY TO 350 GWH/DAY.UK'S OFGEM - FUNDING WAS FOR NEW PIPELINES, NETWORK UPGRADES NEEDED TO PROVIDE CAPACITY AT THE FLEETWOOD ENTRY POINT TO THE NATIONAL TRANSMISSION SYSTEM (NTS).UK'S OFGEM-TO REMOVE £277.5 MILLION FUNDING AS NATIONAL GRID DOESN'T EXPECT TO INCUR FURTHER EXPENDITURE ON PROVIDING CAPACITY DURING CURRENT PRICE CONTROL.  Full Article

National Grid to start 835 mln pounds share buy-back
Friday, 2 Jun 2017 02:00am EDT 

June 2 (Reuters) - National Grid Plc ::To commence its 835 million pounds share buy-back programme.Expected to be carried out in not less than two tranches.  Full Article

National Grid expects to maintain significant levels of capital investment over medium term
Thursday, 18 May 2017 02:00am EDT 

May 18 (Reuters) - National Grid Plc :Final dividend 29.1 penceper share.Total dividend 44.27 penceper share.FY total adjusted EPS of 73.0p.FY total capital investment of £4.5bn, up 5% at constant currency.FY asset growth of 5.1%, compared to 4.8% last year.FY performance of us unit to improve, with 2017/18 benefiting from a FY of new rates in our downstate new york gas and massachusetts electric unit.In UK transmission, totex performance is expected to remain consistent although incentive performance and legacy allowances are expected to decline.Overall contribution from other activities and National Grid ventures is expected to be higher.Continuing CAPEX for continuing business expected to increase to over £4 billion driven by increased workload agreed under new rate agreements in us.We expect to maintain significant levels of capital investment over medium term, reflecting growing investment in US and continued investment in UK.Overall UK timing recoveries are expected to be significantly (c £100m) lower than in 2016/17.Gas transmission timing is expected to be negative in 2017/18 compared to a £62m over-recovery in 2016/17.Roe for overall us operations seen up, reflecting a full year impact of new rate plans and we are targeting 90% of average allowed returns in 2017/18.Net debt is seen rising from £19.3 billion at year end 2016/17 due to return of capital of £4 billion and ongoing business requirements of approximately £2 billion.  Full Article

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Britain's energy regulator gives go-ahead to National Grid for Hinkley project

LONDON Britain's energy market regulator has given the go-ahead to National Grid to build a power grid upgrade to connect the new Hinkley Point C nuclear power station in Somerset.