National Grid (NG.)

[Steveam]

The interim dividend is expected to be paid on 11 January 2024 to shareholders on the register as at 24 November 2023.

Best wishes, Steve

[Dod101]

Interesting that they, unlike SSE, are happy to continue to increase their dividend despite a lot of demand for new investment. Somebody may or may not try to measure the effect of these two contrasting approaches over say the next five years.

Anyway, good for us income seekers.

Dod

[idpickering]

Ofgem - Sector Specific Methodology Consultation.

Ofgem has today published sector specific consultation documents for our UK Electricity Transmission business relating to the RIIO-T3 regulatory period which will be effective from April 2026 through to March 2031.

The consultation is the next phase of the RIIO-T3 process and provides the framework on which we will base our Electricity Transmission business plan, due for submission in late 2024. As we look towards RIIO-T3, and a further step up in investment, we especially welcome Ofgem's recognition in this consultation of the need to deliver clear signals and direction so as to provide certainty and assurance to investors that projects are viable, investable and deliverable. This will enable National Grid to continue delivering world class networks at the lowest cost for consumers.

This consultation is part of a wider suite of changes required to keep the energy transition moving at pace, and we are encouraged by the recent progress from government and Ofgem on a number of fronts. We are now moving to deliver our new contractual model for working with the supply chain. The procurement process for our enterprise partnership model has been launched, and strategic partners will be selected in the coming months to ensure we can deliver major projects in the timeframes required.

Getting the right policies and regulatory framework in place will enable the industry to keep driving forward and overcome barriers to reach a net zero energy system as soon as possible. We look forward to providing a detailed response to this sector specific consultation in the first quarter of 2024, as a next step.

https://www.investegate.co.uk/announcem ... on/7938692


Ian (I hold NG.).

[idpickering]

Grid Guide to Accelerating UK Connections

National Grid is hosting an investor event in London today focusing on accelerating connections across its UK Electricity Transmission and Distribution businesses.

The event forms part of National Grid's ESG investor education series. It will demonstrate the progress we've been making within the regulatory and policy parameters in which we operate. It will also expand on why further connections reform is needed to deliver the clean energy and infrastructure required if the country is to meet the UK Government's target of a decarbonised grid by 2035.

https://www.investegate.co.uk/announcem ... ns/8027614

Ian.

[idpickering]

Completion of sale of 20% of National Gas

National Grid plc is pleased to announce that it has today completed the sale of a further 20% equity interest in National Gas to the existing majority owners, a consortium of long-term investors led by Macquarie Asset Management, which we announced on 19 July 2023.

https://www.investegate.co.uk/announcem ... as/8081301

Ian (I hold NG.).

[ElCid]

Completion of sale of 20% of National Gas

National Grid plc is pleased to announce that it has today completed the sale of a further 20% equity interest in National Gas to the existing majority owners, a consortium of long-term investors led by Macquarie Asset Management, which we announced on 19 July 2023.

https://www.investegate.co.uk/announcem ... as/8081301

Ian (I hold NG.).

Beware Macquarie Asset Management. They loaded up Thames Water with loads of debt. OFWAT was asleep, lets hope the regulators have learned their lesson.

[daveh]

Completion of sale of 20% of National Gas



https://www.investegate.co.uk/announcem ... as/8081301

Ian (I hold NG.).

Beware Macquarie Asset Management. They loaded up Thames Water with loads of debt. OFWAT was asleep, lets hope the regulators have learned their lesson.

Loaded up with debt, took out large dividends and then sold it on (to USS pension scheme among others) and it is now in problems. Good business for Macquarie not good for those who bought it and not good for Thames Water customers. Not a good custodian of UK assets.

[idpickering]

Three-year rate plan proposal filed for National Grid's downstate New York Gas Businesses.

National Grid has filed a Joint Proposal with the New York Public Service Commission for a multi-year rate settlement for its two downstate New York gas distribution businesses (KEDNY and KEDLI).

The proposed settlement is for a three-year rate plan with new rates effective April 2024. A final decision from the New York Public Service Commission is expected in the next few months.

https://www.investegate.co.uk/announcem ... li/8130397

Ian.

[idpickering]

Pre-Close Update ahead of 2023/24 Full Yr Results.

National Grid today issues a pre-close update ahead of announcing results for the year ended 31 March 2024 on 23 May 2024.

We now expect Underlying EPS for 2023/24 to be in line with the prior year, at actual exchange rates and before the reporting change noted below.

In the 2023 Spring budget, the UK Government introduced 'full expensing' tax relief for qualifying capital expenditure to encourage greater levels of investment from businesses. This change became permanent in November 2023. To represent underlying profitability more accurately, and to align with UK peers, we will now report Underlying Earnings and Underlying EPS excluding the impact of deferred tax in our UK Electricity Transmission and Distribution businesses.

This reporting change will be reflected in our 2023/24 Full Year results, which will lead to an expected increase to Underlying EPS of around 8 pence per share.

Further details will be provided in our 2023/24 Full Year results, and a note on the change to our definition of Underlying Earnings and Underlying EPS can be found on the Investors section of our website here¹.

https://www.investegate.co.uk/announcem ... ts/8143601

Ian (I hold).