(Reuters) - Gas and electricity distributor National Grid Plc (NG.L) 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.
“The over-recoveries primarily relate to out-turn electricity and gas volumes being different to anticipated volumes (e.g. due to weather),” the company said, adding U.S. over-recoveries benefited from mandated state level collections.
Timing has no impact on long-term performance and the gains would be returned to shareholders in the future, National Grid added.
Reporting by Sanjeeban Sarkar in Bengaluru; Editing by Sunil Nair