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National Grid PLC (NG.L)

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Latest Key Developments (Source: Significant Developments)

National Grid Publishes Draft RIIO2 Business Plans
Tuesday, 2 Jul 2019 

July 2 (Reuters) - National Grid PLC ::NATIONAL GRID PUBLISHES DRAFT RIIO2 BUSINESS PLANS.SUBMITTED DRAFT RIIO-T2 BUSINESS PLANS FOR ELECTRICITY TRANSMISSION & GAS TRANSMISSION TO INDEPENDENT USER GROUPS.ALSO SUBMITTED DRAFT RIIO-T2 BUSINESS PLANS FOR ELECTRICITY TRANSMISSION & GAS TRANSMISSION TO OFGEM'S RIIO-2 CHALLENGE GROUP.  Full Article

Atos Selected By National Grid To Power Up Digital Services
Thursday, 13 Jun 2019 

June 13 (Reuters) - ATOS SE ::NATIONAL GRID SELECTS ATOS TO POWER UP DIGITAL SERVICES.ATOS HAS SIGNED MULTI-YEAR $150 MILLION USD CONTRACT TO DELIVER DIGITAL MANAGED WORKPLACE SERVICES FOR NATIONAL GRID'S CORE BUSINESS, SPANNING UK AND NORTHEASTERN UNITED STATES.  Full Article

UK CMA Updates On Review Of Energy Prepayment Price Cap
Friday, 7 Jun 2019 

June 7 (Reuters) - National Grid PLC ::COMPETITION AND MKTS - UPDATE ON REVIEW OF ENERGY PREPAYMENT PRICE CAP.UK'S CMA - PUBLISHED PROVISIONAL DECISION TO ADJUST METHODOLOGY USED TO CALCULATE ITS PREPAYMENT PRICE CAP IN ORDER TO BETTER REFLECT COSTS.UK'S CMA - PROVISIONAL RECOMMENDATION TO OFGEM TO EXTEND PROTECTION TO PREPAYMENT CUSTOMERS BEYOND END OF 2020, AFTER DELAY ROLL-OUT OF SMART METERS.  Full Article

National Grid FY Profit Lower, Sees Medium-Term Asset Growth At Top End Of 5-7% Range
Thursday, 16 May 2019 

May 16 (Reuters) - National Grid PLC ::FULL YEAR RESULTS 2018/19.FY UNDERLYING OPERATING PROFIT DOWN 2% TO £3.4BN (4% AT CONSTANT CURRENCY).FY STATUTORY OPERATING PROFIT DOWN 18% TO £2.9BN.FY GROUP ROE OF 11.8% (2018: 12.3%).CADENT SALE EXPECTED TO COMPLETE IN JUNE WITH £2BN IN EQUITY PROCEEDS.FY CAPITAL INVESTMENT OF 4,506 MILLION STG VERSUS 4,251 MILLION STG AS REPORTED A YEAR AGO.RECOMMENDED FULL YEAR DIVIDEND OF 47.34P.REACHED AGREEMENT ON NEW EMPLOYMENT TERMS WITH UNIONS IN MASSACHUSETTS GAS.REMAIN ON TRACK TO ACHIEVE ASSET GROWTH AT THE TOP END OF OUR 5-7% RANGE IN THE MEDIUM TERM.DELIVERED FY CAPITAL INVESTMENT OF £4.5 BILLION IN CRITICAL INFRASTRUCTURE IN 2018/19, UP 3.4% AT CONSTANT CURRENCY.FOR 2019/20, WE CONTINUE TO EXPECT A GOOD FINANCIAL PERFORMANCE IN OUR US BUSINESS.UK BUSINESS REMAINS ON TRACK TO DELIVER CONTINUED OUTPERFORMANCE FOR FOR 2019/20.CONTRIBUTION FROM NGV AND OTHER ACTIVITIES IS EXPECTED TO REDUCE IN 2019/20.EXPECTS ASSET GROWTH OF AROUND 7% IN THE NEAR TERM WITH ANNUAL CAPITAL INVESTMENT OF ALMOST £5BN.OVERALL RETURN ON EQUITY OUTPERFORMANCE IS EXPECTED TO BE SLIGHTLY ABOVE THE 200-300 BPS RANGE FOR 2019/20.  Full Article

National Grid Says Jonathan Silver Appointed As A Non-Exec Director
Wednesday, 15 May 2019 

May 15 (Reuters) - National Grid PLC ::BOARD APPOINTMENT AND COMMITTEE CHANGES.JONATHAN SILVER AS A NON-EXECUTIVE DIRECTOR OF BOARD WITH EFFECT FROM 16 MAY 2019.JONATHAN JOINS FINANCE COMMITTEE, REMUNERATION COMMITTEE AND NOMINATIONS COMMITTEE OF NATIONAL GRID PLC.WITH IMMEDIATE EFFECT, AMANDA MESLER HAS BEEN APPOINTED AS A MEMBER OF SAFETY, ENVIRONMENT AND HEALTH COMMITTEE.  Full Article

National Grid Responds To Labour Proposals For State Ownership Of Energy Networks
Wednesday, 15 May 2019 

May 15 (Reuters) - National Grid PLC ::NATIONAL GRID RESPONSE TO LABOUR PROPOSALS FOR STATE OWNERSHIP.LABOUR PROPOSALS FOR STATE-OWNERSHIP OF ENERGY NETWORKS WOULD DELAY "PROGRESS AND INVESTMENT" IN MOVE TO GREEN ENERGY.  Full Article

National Grid Announces Rate Filing For Downstate New York Gas Businesses
Tuesday, 30 Apr 2019 

April 30 (Reuters) - National Grid PLC ::RATE FILING FOR DOWNSTATE NEW YORK GAS BUSINESSES.REQUESTED NEW YORK PUBLIC SERVICE COMMISSION TO UPDATE GAS DISTRIBUTION RATES FOR 2 DOWNSTATE NEW YORK GAS DISTRIBUTION BUSINESSES.WILL MAINTAIN A FOCUS ON CUSTOMER AFFORDABILITY THROUGH MAXIMISING EFFICIENCIES OVER MULTI-YEAR RATE PLAN.FOR RATE YEAR 2020/21, IT INCLUDES CAPITAL INVESTMENTS OF $962 MILLION FOR KEDNY AND $586 MILLION FOR KEDLI.FILING REQUESTS A RETURN ON EQUITY OF 9.65%.NEW RATES ARE EXPECTED TO BECOME EFFECTIVE APRIL 2020.  Full Article

National Grid 2018/19 Underlying EPS In Line With Co's Expectations
Thursday, 11 Apr 2019 

April 11 (Reuters) - National Grid PLC ::NATIONAL GRID PLC - UPDATE TO TECHNICAL GUIDANCE FOR 2018/19.NATIONAL GRID PLC - 2018/19 UNDERLYING EARNINGS PER SHARE ARE IN LINE WITH OUR EXPECTATIONS.NATIONAL GRID PLC - HIGHER OPERATING COSTS IN US BUSINESS OFFSET BY LOWER FINANCE COSTS IN 2018/19.NATIONAL GRID PLC - FULL YEAR RESULTS WILL REFLECT US TIMING OVER-RECOVERIES OF AROUND $290M.NATIONAL GRID PLC - EXPECT REMEDIATION COSTS ASSOCIATED WITH MAJOR STORMS TO AMOUNT TO AROUND 2P ON HEADLINE EARNINGS PER SHARE IN 2018/2019.NATIONAL GRID - HIGHER THAN ANTICIPATED OPERATING COSTS WERE OFFSET BY APPROXIMATELY £100M LOWER INTEREST COSTS IN US BUSINESS.NATIONAL GRID PLC - US TIMING OVER-RECOVERIES IS A NET BENEFIT TO HEADLINE EARNINGS PER SHARE OF APPROXIMATELY 2P.  Full Article

National Grid Requests Update On Electricity Distribution Rates For Massachusetts Electric Business
Friday, 16 Nov 2018 

Nov 16 (Reuters) - National Grid PLC ::NATIONAL GRID PLC - NEW REGULATORY FILINGS IN MASSACHUSETTS & NEW YORK.NATIONAL GRID - REQUESTED MASSACHUSETTS DEPARTMENT OF PUBLIC UTILITIES TO UPDATE ELECTRICITY DISTRIBUTION RATES FOR MASSACHUSETTS ELECTRIC BUSINESS.NATIONAL GRID - RATE FILING REQUESTS ABOUT $70 MILLION/ANNUM INCREASE IN REVENUE TO COVER INCREASED OPERATING COSTS & INVESTMENTS & RETURN ON EQUITY OF 10.5%.NATIONAL GRID PLC - FILED A CAPITAL INVESTMENT REQUEST FOR $650 MILLION WITH NEW YORK PUBLIC SERVICE COMMISSION (PSC).NATIONAL GRID - REQUEST TO INSTALL 1.7 MILLION ELECTRIC ADVANCED METERING INFRASTRUCTURE METERS, 640,000 GAS MODULES, ACROSS NIAGARA MOHAWK BUSINESS.  Full Article

National Grid Concludes Disposal Of Former Gasworks North Of Church Way In Doncaster
Wednesday, 10 Oct 2018 

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

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National Grid faces possible penalty on non-compliance of New York safety rules

The New York State Public Service Commission on Thursday said National Grid Plc is facing possible financial penalty after an investigation found that two of its gas utilities failed to comply with safety rules related to gas infrastructure work in their service territories.