Sunday newspaper round-up: Tesco, National Grid, Morrisons
14th May 2023 20:17
(Sharecast News) - Tesco's pension fund lost £9bn in value and fell into a deficit after multiple safe investments went sour. In particular, the fund is heavily exposed to so-called Liability Driven Investments. Those LDIs came unstuck in 2022 following a sharp rise in interest rates that left pension funds nursing heavy losses. Yet the grocer had no plans to pay more into the pension plan with a spokesman saying that the scheme was "in a strong position", "well-funded" and employing a different measure for estimating contributions then it was in fact "in surplus". - The Financial Mail on Sunday
Read moreSunday newspaper round-up: Inflation, National Grid, Rolls Royce
23rd Apr 2023 15:46
(Sharecast News) - Former Bank of England chief economist, Andy Haldane, believes that it is "pretty much nailed on" that inflation will halve over the next six months as energy price increases slow down. But in remarks to Sky News, Haldane cautioned that hikes in Bank Rate had yet to impact borrowing costs for many borrowers, especially those on fixed-rate mortgages. "The effects of the tightening so far haven't been fully felt. That would give me cause for pause. I'd think, hang on, the economy is still on unsteady legs right now. Much of the tightening that has already happened hasn't hit people's bank accounts. Perhaps now is the time to press the pause button and see what happens." - Guardian
Read moreJP Morgan stays at 'buy' on National Grid highlighting 'solid' balance sheet
17th Apr 2023 11:11
(Sharecast News) - Analysts at J.P.Morgan reiterated their 'overweight' recommendation for shares of National Grid in anticipation of increased investor focus on the company's 'solid' balance sheet.
Read moreNational 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 more