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National Grid PLC (NG.L)

NG.L on London Stock Exchange

816.60GBp
24 May 2019
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10.60 (+1.32%)
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Latest Key Developments (Source: Significant Developments)

National Grid Submits Response To RIIO T2 Consultation
Friday, 15 Mar 2019 

March 15 (Reuters) - National Grid PLC ::NATIONAL GRID PLC - NG SUBMITS RESPONSE TO RIIO T2 CONSULTATION.NATIONAL GRID PLC - NOW SUBMITTED OUR RESPONSE TO OFGEM ON SECTOR SPECIFIC METHODOLOGY CONSULTATION FOR RIIO-T.NATIONAL GRID PLC - "CONCERNED THAT AS CURRENTLY SET OUT, PROPOSALS WILL NOT BRING ABOUT CHANGE CONSUMERS NEED".NATIONAL GRID PLC - IN RESPONSE, SHOW RECTIFYING INDIVIDUAL ERRORS IN CURRENT PROPOSAL, TAKING BALANCED VIEW OF FULL SUITE OF EVIDENCE.NATIONAL GRID - IN RESPONSE, SHOW REMOVING 50 BASIS POINTS OUTPERFORMANCE ADJUSTMENT RESULTS IN ALLOWED RETURN ON EQUITY OF 5.5%.NATIONAL GRID PLC - IN RESPONSE, ENCOURAGE OFGEM TO RE-EMBRACE CONCEPT OF INCENTIVISATION TO DELIVER INNOVATION AND EFFICIENCY.  Full Article

National Grid To Buy Geronimo Energy For At Least $100 Mln
Thursday, 7 Mar 2019 

March 7 (Reuters) - National Grid PLC ::NATIONAL GRID EXPANDS PRESENCE IN US RENEWABLE'S.NATIONAL GRID HAS AGREED TO PAY $100M.ENTERED INTO AN AGREEMENT TO ACQUIRE GERONIMO ENERGY.BOTH TRANSACTIONS ARE SUBJECT TO VARIOUS APPROVALS AND ARE EXPECTED TO CLOSE IN Q2 OF 2019.ALSO PROGRESSING AN AGREEMENT TO ACQUIRE A 51% SHARE IN 378MW OF SOLAR AND WIND GENERATION PROJECTS DEVELOPED BY GERONIMO FOR $125M.  Full Article

National Grid "Disappointed" With Ofgem's Proposed Financial Package For UK Transmission Businesses
Tuesday, 18 Dec 2018 

Dec 18 (Reuters) - National Grid PLC ::OFGEM'S SECTOR SPECIFIC CONSULTATION.OFGEM'S CONSULTATION IS A DETAILED DOCUMENT WHICH CO WILL NEED TO WORK THROUGH; CO IS "DISAPPOINTED" WITH PROPOSED FINANCIAL PACKAGE.DOES NOT BELIEVE COST OF EQUITY RANGE IN OFGEM'S CONSULTATION APPROPRIATELY REFLECTS LEVEL OF RISK BORNE BY TRANSMISSION NETWORKS.  Full Article

National Grid Names Andy Agg CFO Effective Jan 1
Wednesday, 12 Dec 2018 

Dec 12 (Reuters) - National Grid PLC ::APPOINTMENT OF NEW CHIEF FINANCIAL OFFICER.ANNOUNCE APPOINTMENT OF ANDY AGG TO BOARD OF NATIONAL GRID PLC AS CHIEF FINANCIAL OFFICER (CFO) WITH EFFECT FROM 1 JANUARY 2019.ANDY HAS BEEN INTERIM CFO OF COMPANY SINCE JULY 2018.  Full Article

National Grid Implementing Restructuring Programme In The UK
Thursday, 8 Nov 2018 

Nov 8 (Reuters) - National Grid PLC ::REPORT FOR THE PERIOD ENDED 30 SEPTEMBER 2018.APPROVED £850M INVESTMENT TO PROCEED WITH VIKING INTERCONNECTOR.HY UNDERLYING OPERATING PROFIT 1.3 BILLION STG VERSUS. 1.4 BILLION STG.INTERIM DIVIDEND 16.08P/SHARE, UP 3.8% IN LINE WITH POLICY.IN UK, WE ARE IMPLEMENTING A COST EFFICIENCY AND RESTRUCTURING PROGRAMME.ON TRACK TO ACHIEVE ASSET GROWTH AT TOP END OF OUR 5-7% RANGE IN MEDIUM TERM.CONTINUE TO SEEK A FAIR SETTLEMENT ON UNION NEGOTIATIONS IN MASSACHUSETTS.HY CAPITAL INVESTMENT ACROSS GROUP WAS £2,130 MILLION, AN INCREASE OF £136 MILLION OR 7% AT CONSTANT CURRENCY.WITH EFFECT FROM 30 JUNE 2018 THE INVESTMENT IN QUADGAS HOLDCO LIMITED WAS CLASSIFIED AS HELD FOR SALE.NET DEBT INCREASED TO £25.6 BILLION IN SIX MONTHS, £2.6 BILLION HIGHER THAN AT 31 MARCH 2018.UK BUSINESS REMAINS ON TRACK TO DELIVER OUTPERFORMANCE IN 200-300 BPS RANGE IN FY.CONTRIBUTION FROM NATIONAL GRID VENTURES AND OTHER ACTIVITIES IS EXPECTED TO BE ABOVE PRIOR YEAR..  Full Article

National Grid FY underlying operating profit rises
Thursday, 17 May 2018 

May 17 (Reuters) - National Grid PLC ::FY PRETAX PROFIT 2.708 BILLION STG.FY UNDERLYING OPERATING PROFIT UP 4% TO £3.5BN.FY CAPITAL INVESTMENT OF £4.3BN, UP 14% AT CONSTANT CURRENCY.NATIONAL GRID EXPECTS GROWTH AT TOP END OF 5-7% RANGE FOR MEDIUM TERM, AND AT LEAST 7% IN NEAR TERM.FY GROUP RETURN ON EQUITY OF 12.3% (2016/17: 11.7%).NATIONAL GRID-NET DEBT IS EXPECTED TO INCREASE FROM £23.0 BILLION AT 31 MARCH 2018 AS A RESULT OF ONGOING BUSINESS REQUIREMENTS BY APPROXIMATELY £2.5 BILLION.OVERALL GROUP CAPITAL INVESTMENT FOR 2018/19 IS EXPECTED TO BE AT A SIMILAR LEVEL TO £4.3 BILLION OF INVESTMENT IN 2017/18..FINAL DIVIDEND 30.44 PENCE PER SHARE.TOTAL DIVIDEND 45.93 PENCE PER SHARE.  Full Article

National Grid Announces Agreement For Potential Sale Of 25 Pct Of Cadent Gas
Tuesday, 1 May 2018 

May 1 (Reuters) - National Grid PLC ::NATIONAL GRID - ENTERED INTO AN AGREEMENT WITH QUADGAS INVESTMENTS BIDCO FOR POTENTIAL SALE OF ITS REMAINING 25% EQUITY IN QUADGAS HOLDCO LIMITED.CASH PROCEEDS FROM POTENTIAL SALE, WOULD BE APPROXIMATELY £1.2 BILLION.NATIONAL GRID- IF SALE IS COMPLETED FOR 25% INTEREST, 14% OPTION ANNOUNCED IN MARCH, PROCEEDS EXPECTED TO BE RETAINED FOR REINVESTMENT IN BUSINESS.  Full Article

National Grid Sees Lower FY Headline EBIT
Thursday, 12 Apr 2018 

April 12 (Reuters) - National Grid PLC ::UNDERLYING GROUP EBIT IS EXPECTED TO BE IN LINE WITH ORIGINAL GUIDANCE.HEADLINE GROUP EBIT IS EXPECTED TO BE LOWER DUE TO IMPACT OF MAJOR STORMS IN ON OUR US BUSINESSES.LARGELY OFFSET AT EARNINGS LEVEL BY BENEFITS TO FINANCE COSTS AND A LOWER EFFECTIVE TAX RATE..  Full Article

National Grid Proposes ‍Three-Year Rate Plan For Niagara Mohawk Electric & Gas
Monday, 22 Jan 2018 

Jan 22 (Reuters) - National Grid Plc ::NATIONAL GRID - CO, NY PUBLIC SERVICE COMMISSION FILED PROPOSAL FOR 3-YEAR RATE PLAN SETTLEMENT FOR NIAGARA MOHAWK POWER CORP ELECTRIC AND GAS DISTRIBUTION UTILITY​.NATIONAL GRID PLC - FINAL DECISION FROM COMMISSION IS EXPECTED IN SPRING OF 2018 WITH NEW RATES EFFECTIVE AS OF APRIL 2018.NATIONAL GRID PLC - UNDER JOINT PROPOSAL, EXPECT SIGNIFICANT CAPITAL TO BE INVESTED OVER THREE-YEAR PERIOD, TOTALLING $2.5 BILLION.NATIONAL GRID PLC - SETTLEMENT WILL CONTRIBUTE TO FINANCIAL PERFORMANCE OF OUR US OPERATIONS.  Full Article

National Grid HY ‍adjusted operating profit up 4 pct to 1.4 bln stg​
Thursday, 9 Nov 2017 

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

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Britons set for $7.6 billion energy windfall from network curbs

LONDON Britons could see a 6 billion pound ($7.6 billion) cut in energy bills over five years from 2021, saving the average household 40 pounds per year, under plans to curb what gas and electricity network firms can pay shareholders.