National Grid signs agreement with Scottish Power

3rd Aug 2011 12:34

UK power and gas grid operator National Grid signed an agreement with Scottish Power, an Iberdrola subsidiary, to reduce production in the Logannet plant from August to October. The British company indicated that the goal is to reduce the load on the electrical system during maintenance.Specifically, output will fall by 574 megawatts (MW) from August 13 to 28 and 1,148 MW from August 29 to October 30.Shares of National Grid were down 0.66% to 606.50p while Iberdrola rose 1.91% to 5.535 Euros.JM