National Grid ends year as expected, warns of UK tax impact
14th Apr 2023 11:29
(Sharecast News) - National Grid said in an update on Friday that its performance for the financial year just ended was in line with expectations, with underlying earnings per share growth expected to be in the middle of the 6% to 8% compound annual growth rate (CAGR) range.
Read moreSunday newspaper round-up: Dividends, BP, Capricorn Energy
29th Jan 2023 23:05
(Sharecast News) - Companies' dividend payments jumped by 8% to reach £94.3bn, led by big banks alongside a surge in payouts from oil outfits. share buybacks meanwhile reached 2% of the combined value of UK-listed companies. However, Link Group anticipates that payments will decline by 2.8% in 2023 to reach £91.7bn and believes that the economic backdrop is "decidedly gloomier" than one year ago with higher interest rates set to pressure margins further. - Financial Mail on Sunday
Read moreHouseholds paid to cut energy usage as cold snap bites
23rd Jan 2023 13:15
(Sharecast News) - National Grid will pay some British households to use less power on Monday, the first time a new scheme will be put into practice.
Read moreSunday newspaper round-up: Coal-fired power plants, Metro Bank, Asda
22nd Jan 2023 19:47
(Sharecast News) - National Grid has called on coal-fired power plants to prepare to supply power on Monday given that temperatures are expected to remain near zero even as wind speeds remain low. The notifications that they should be ready - if needed - were served to three coal units owned by Drax and EdF. The plants had been scheduled to close in September but that decision was pushed back until 2024 due to soaring gas prices in the wake of Russia's war on Ukraine. According to Bloomberg data, UK futures remain at over the twice the level typically seen at this time of the year. - The Sunday Telegraph
Read moreCoal-fired plants put on standby as cold snap intensifies
12th Dec 2022 10:19
(Sharecast News) - National Grid has ordered two coal-fired generators be readied for use after temperatures plunged across the UK.
Read moreSunday newspaper round-up: Power prices, Broadband bills, Brexit protocol
11th Dec 2022 20:35
(Sharecast News) - Power prices hit a record high due to a combination of a cold snap and a dearth of wind. Power prices in the UK for a day ahead hit a record £675 per megawatt hour on the Epex Spot Exchange on Sunday as the country was blanketed with snow and temperatures fell below zero. At the peak hours between five and six o'clock power costs surged to £2,586 per megawatt hour. Furthermore, National Grid forecast that power demand would peak at nearly 46,700 megawatts on Monday, versus 43,000 MW on Sunday. Energy supply from wind meanwhile fell to about 5% of the country's demands on Sunday, against an average of 28.5% over 2022. - The Sunday Telegraph
Read moreOfgem calls for more investment in local grids, freezes bills
30th Nov 2022 10:50
(Sharecast News) - Ofgem said on Wednesday that the UK's electricity distribution companies must continue to invest in local energy networks without increasing household bills.
Read moreNational Grid poised to start emergency winter plan
28th Nov 2022 07:22
(Sharecast News) - National Grid is considering paying British households to use less energy in peak times, it emerged on Monday.
Read moreNational Grid H1 operating profits up 50%
10th Nov 2022 07:17
(Sharecast News) - Utilities firm National Grid said on Thursday that interim operating profits from continuing profits had shot up 50% on an underlying basis to £2.11bn, reflecting the "strength and resilience" of the business.
Read moreJefferies upgrades Centrica, Drax to 'buy'
31st Oct 2022 07:28
(Sharecast News) - Jefferies upgraded Centrica and Drax on Monday to 'buy' from 'hold' as it pointed to strong free cash flow generation and resilient balance sheets.
Read moreNational Grid sees trading in line: EPS to marginally weighted to H2
10th Oct 2022 07:07
(Sharecast News) - National Grid said trading for the first half of its fiscal year was in line with expectations and forecast annual underlying earnings to be more marginally weighted to the second half than usual after including a full six-month contribution of National Grid Electricity Distribution - formerly Western Power Distribution.
Read moreUniper to keep UK coal plant open longer than planned to ensure energy supply
22nd Sep 2022 11:28
(Sharecast News) - German energy company Uniper said on Thursday that it has agreed to keep a unit of one of its UK coal stations open for longer than planned.
Read moreSunday newspaper round-up: Energy sector, EdF, Fracking
11th Sep 2022 23:26
(Sharecast News) - Industry sources are warning that the energy sector needs to know the details of the new Prime Ministers' plans to support businesses in order for them to take effect during the next winter. The government has indicated that a more complete plan for businesses will be announced as soon as possible. In another development, Centrica chief executive officer, Chris O'Shea, voiced support for using contracts for difference for long-term electricity prices as part of efforts to ensure lower prices for consumers over the years ahead. - The Sunday Telegraph
Read moreSunday newspaper round-up: Energy bill freeze, Iceland, National Grid
4th Sep 2022 16:57
(Sharecast News) - Lizz Truss declined in an interview with BBC One to rule out freezing energy bills in some form if she were elected, vowing to take action within a week if she were. Truss, who is widely expected to come out on top in the Tory leadership contest, vowed she would reveal her plans to ease the pain from soaring energy prices and expanding energy supply within seven days after entering Number 10. A plan to restart economic growth through tax cuts would be forthcoming within a month from assuming office. Labour leader, Sir Keir Starmer, has proposed keeping the cap in place throughout the winter, putting the cost to the Treasury at £29bn. - The Sunday Telegraph
Read moreSunday newspaper round-up: Inflation, OneWeb, Rolls-Royce
24th Jul 2022 16:46
(Sharecast News) - The consultancy unit of EY think that consumer price inflation could hit 15% over the next winter. The prediction is a worst case scenario from the economists at EY-Parthenon, premised on President Putin blocking natural gas supplies to Europe, soaring food prices and inflation expectations becoming embedded amongst the population. Inflation in the UK hit a 40-year high in June, rising at an annual pace of 9.4%, and candidate for Prime Minister, Rishi Sunak, has described the cost of living as the "number one challenge we face". - Sunday Times
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