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national grid.....??? (NG.)
stockbunny
- 02 Aug 2005 14:51
Ok is there a mutter from the gutter going about today or what?
Shares are now consolidated, payout deadline gone, no official
news......??????
(scratches head......)
Any clues among us beautiful BB'ers this afternoon?
Shares are now consolidated, payout deadline gone, no official
news......??????
(scratches head......)
Any clues among us beautiful BB'ers this afternoon?
stockbunny
- 02 Aug 2005 16:00
- 2 of 224
Ahhh...so nobody-knows-nothing-huh?
;>)
;>)
jj50
- 02 Aug 2005 16:36
- 3 of 224
Hi bunny, have been out but do you mean the details of the return of capital and consolidation? For every 49 existing shares you hold, you should receive 49 new B shares and 43 new ordinary shares. The B shares are worth 65p in divi ... or whatever. As usual with these things, share price is still not what I would have expected but .........
stockbunny
- 02 Aug 2005 16:39
- 4 of 224
The normal A shares now trading as NG. are up a lot, that's what I
don't understand to be honest...why the rise?
I opted for the one-off cash payment on the B shares, didnt see the point
in messing about with them, can't see them gaining much if anything to be
honest.
don't understand to be honest...why the rise?
I opted for the one-off cash payment on the B shares, didnt see the point
in messing about with them, can't see them gaining much if anything to be
honest.
jj50
- 02 Aug 2005 16:43
- 5 of 224
I agree, but then the old shares had gone down a fair whack and if I calculate the dividend return, on top of the reduced shareholding, am still slightly out of pocket! I took the dividend too but I think the motive for deferring is probably normally a tax one - in other words if you think your tax liability next year will be less, leaving it till then probably the answer - ditto, if your CGT allowance is not used up, probably pays to opt for the capital gain. That was my interpretation anyway but then again, I hadn't had time to fill in the reply, hence the default decision!!!!
stockbunny
- 02 Aug 2005 16:47
- 6 of 224
Well if they keep rising like this hopefully not long until you are back in pocket again
I came out at break-even following the consolidation so really gained fractionally just about,
I suppose as the cash is there to put to other uses, always difficult to know which
way to jump in those situations.
I came out at break-even following the consolidation so really gained fractionally just about,
I suppose as the cash is there to put to other uses, always difficult to know which
way to jump in those situations.
jj50
- 02 Aug 2005 16:50
- 7 of 224
Yes, it is interesting isn't it that when you read
cash is going to be given back to shareholders, it
sounds great - then the reality is never quite so
amazing - what they give with one hand is grabbed back
with the other ........ then there's the complicated bit
to fill in the tax form too. LOL!
I am still trying to understand Shell!!
cash is going to be given back to shareholders, it
sounds great - then the reality is never quite so
amazing - what they give with one hand is grabbed back
with the other ........ then there's the complicated bit
to fill in the tax form too. LOL!
I am still trying to understand Shell!!
FRASZ - 03 Nov 2005 08:53 - 8 of 224
Cold Winter. They say this is going to be a cold winter. How will this effect National Grid? Will more business be done? Will there be power cuts if demand goes up? Is a cold winter a buying signal for NG. shares?
Stan
- 16 Feb 2006 15:01
- 9 of 224
These have been on the up over the last few months...and would have thought that this purchase won't do them any harm either IMHO.
National Grid expands in US
MoneyAM
National Grid today announced the acquisition of a US gas distribution business for $575m.
National Grid said it has agreed to buy the Rhode Island gas distribution operation from the Southern Union Co.
The group, which has said it will continue its US expansion under incoming CEO, Steve Holliday, said the deal would significantly expand its gas distribution activities in the north eastern US.
It added that a strong overlap with its existing electricity distribution operations in Rhode Island creates the potential for savings.
National Grid will pay $498m in cash and will assume $77m in debt.
SUG's Rhode Island gas business serves about 245,000 customers through a distribution network of more than 3,000 miles of gas mains.
The group said it expects the deal to enhance its earnings per share before exceptional items immediately following completion.
Michael E Jesanis, president and CEO of National Grid's US business, said: 'This transaction is a natural for us and is right in our backyard.'
The transaction is subject to approval by Rhode Island regulatory authorities and clearance under the Federal Hart-Scott-Rodino Act.
The sale is expected to close in the summer of 2006.
Holliday is expected to take over from current CEO, Roger Urwin, at the end of this year.
National Grid expands in US
MoneyAM
National Grid today announced the acquisition of a US gas distribution business for $575m.
National Grid said it has agreed to buy the Rhode Island gas distribution operation from the Southern Union Co.
The group, which has said it will continue its US expansion under incoming CEO, Steve Holliday, said the deal would significantly expand its gas distribution activities in the north eastern US.
It added that a strong overlap with its existing electricity distribution operations in Rhode Island creates the potential for savings.
National Grid will pay $498m in cash and will assume $77m in debt.
SUG's Rhode Island gas business serves about 245,000 customers through a distribution network of more than 3,000 miles of gas mains.
The group said it expects the deal to enhance its earnings per share before exceptional items immediately following completion.
Michael E Jesanis, president and CEO of National Grid's US business, said: 'This transaction is a natural for us and is right in our backyard.'
The transaction is subject to approval by Rhode Island regulatory authorities and clearance under the Federal Hart-Scott-Rodino Act.
The sale is expected to close in the summer of 2006.
Holliday is expected to take over from current CEO, Roger Urwin, at the end of this year.
transco - 03 Apr 2006 12:31 - 10 of 224
for short term players this looks a very good buy.....
Stan
- 07 Sep 2006 11:36
- 11 of 224
One of safeist outfits In the FT100 I reckon, just thought I would bring this Thread back up.
queen1 - 07 Sep 2006 12:51 - 12 of 224
I agree Stan and have tucked away some for the yield as much as anything else but SP performance of late has been impressive too.
Kivver
- 08 Sep 2006 17:02
- 13 of 224
Me too, been for about 4 years, lovely capital growth and excellent dividends which are still growing. Also a special dividend for selling off gaz thingys. Due to spend a lot of money expanding abroad and renewing infrastructure at home. Im in and staying in and recently added at 5.80
Greystone
- 03 Oct 2006 08:01
- 14 of 224
skinny
- 16 Nov 2006 07:39
- 16 of 224
Hic
Kivver
- 16 Nov 2006 10:02
- 17 of 224
i love it when a plan comes together, its what sharedealing is all about. hic!
blueman - 16 Nov 2006 12:05 - 18 of 224
HIC!
queen1 - 16 Nov 2006 18:23 - 19 of 224
What a great day - one full of energy!!
Kivver
- 14 May 2007 12:09
- 20 of 224
Results coming, good dividends, recommended a buy by many, topped up this morning. Presently 773p. Dont say I dint tell you. It isnt going to rip up any trees but little downside either.
queen1 - 14 May 2007 13:07 - 21 of 224
I totally agree Kivver - Now who would have believed that?!
Kivver
- 14 May 2007 13:13
- 22 of 224
thats 2 things we agree on. I have higher hope for this one than AZM. This will help cover my losses on AZM.
queen1 - 14 May 2007 21:02 - 23 of 224
It's certainly more stable and the dividend helps as well. It's a bouyant sector at present and after E.ON failed to get Endessa there's also the possibility of more consolidation on the horizon that could indirectly provide a boost to NG.
Kivver
- 16 May 2007 16:08
- 24 of 224
results tomorrow, thought there would be a bit of rise today in anticipation. Should go all the way up to ex-div day 772p today.
Kivver
- 16 May 2007 17:00
- 25 of 224
a 5 mil buy at the daeth.
HARRYCAT
- 31 Jan 2008 09:22
- 26 of 224
Possibly now a good defensive stock in times of trouble?
"LONDON (Thomson Financial) - National Grid has announced a review of its dividend program, with a 15 pct rise for 2007/08 and an 8 pct annual rise thereafter to 2012.
This will result in a recommended final dividend for the year ending March 31 of 21.3 pence per ordinary share and a full year dividend of 33 pence, the UK gas and electricity distributor said.
'This policy represents a balance between an initial increase and a significant sustainable growth commitment which is supported by earnings,' National Grid said in its interim management statement.
The company said it is in line to meet financial expectations for the year."
"LONDON (Thomson Financial) - National Grid has announced a review of its dividend program, with a 15 pct rise for 2007/08 and an 8 pct annual rise thereafter to 2012.
This will result in a recommended final dividend for the year ending March 31 of 21.3 pence per ordinary share and a full year dividend of 33 pence, the UK gas and electricity distributor said.
'This policy represents a balance between an initial increase and a significant sustainable growth commitment which is supported by earnings,' National Grid said in its interim management statement.
The company said it is in line to meet financial expectations for the year."
Kivver
- 31 Jan 2008 12:13
- 27 of 224
It talks about sustainable growth too. Ive been in this for about 4 years now. Its been a nice slow grower with decent dividends. Im suprised by the slight fall this morn. Come ex-dividend day it will be a lot higher.
HARRYCAT
- 31 Jan 2008 12:58
- 28 of 224
Ex-divi dates were 06.06 & 15.11 in 2007, so a while to go yet.
Stan
- 25 Feb 2008 07:45
- 29 of 224
NATIONAL GRID FINED 41.6M GBP...oh naughty Mr.Grid.
..anyone for a recovery play?
..anyone for a recovery play?
Kivver
- 21 Apr 2008 14:26
- 30 of 224
Any know reason for the slight decline??? They are buying back shares at a rate of knots and promised increasing dividends for a few years yet!!
Kivver
- 21 Apr 2008 14:26
- 31 of 224
Any know reason for the slight decline??? They are buying back shares at a rate of knots and promised increasing dividends for a few years yet!!
Stan
- 24 Apr 2008 18:26
- 32 of 224
Generally when the market goes up so does the Grid, and It works in reverse. Thats my ex. with this one anyway K over the last 8 years or so.
Kivver
- 22 May 2008 15:06
- 33 of 224
on the way back up with the market you may be right Stan. Dividend due fairly soon.
HARRYCAT
- 22 May 2008 16:18
- 34 of 224
Don't suppose you have the date & amount of the dividend handy? Not immediately apparent from the recent RNS.
Kivver
- 23 May 2008 16:45
- 35 of 224
The board has recommended a final dividend of 21.3p. The final dividend is to be paid on 20 August 2008 to shareholders on the register as at 6 June 2008.
transco15 - 25 May 2008 12:10 - 36 of 224
A very very safe place to put any hard earned profits.
No fireworks or sleepless nights just steady as she goes.
I will be intersting if they manage to get a price hike in the US.
It all depends on the lobby people - not sure if they have enough people on the inside!!
If they do get a hike there should be upside from here.
No fireworks or sleepless nights just steady as she goes.
I will be intersting if they manage to get a price hike in the US.
It all depends on the lobby people - not sure if they have enough people on the inside!!
If they do get a hike there should be upside from here.
Stan
- 03 Jun 2008 22:46
- 37 of 224
Went ex. dividend today, be interested to see just how long it takes the price to recover in the current climate.
HARRYCAT
- 16 Oct 2008 14:26
- 38 of 224
Only down 16% over a 12 month period. Maybe a safe haven in troubled times?
Divi yield was 4.77 up to march 2008. Remains to be seen if this continues.
Next divi date late Nov.
Divi yield was 4.77 up to march 2008. Remains to be seen if this continues.
Next divi date late Nov.
Stan
- 03 Jun 2009 09:14
- 39 of 224
"Went ex. dividend today, be interested to see just how long it takes the price to recover in the current climate"...a year on and the same question. Also a down day (so far) on the footsie. I've already banked the divi and bought some more on the drop today. A safer outfit then NG is hard to imagine. Good luck all.
skinny
- 22 Jul 2009 13:07
- 40 of 224
Nice rise today and fresh air above.
skinny
- 27 Jul 2009 08:49
- 41 of 224
National Grid Sees Trading In Line; Sound Financial Position
LONDON -(Dow Jones)- National Grid PLC (NG.LN), an international electricity and gas company, said Monday it is trading in line with expectations and it sees a strong operational and financial performance in 2009 to 2010; the group also confirmed it is in a sound financial position.
MAIN FACTS:
-Moody's credit ratings reaffirmed with stable outlook
-Continued progress in U.S. rate case filings
-Continues to trade in line with expectations of delivering a strong performance in 2009/10 across the businesses.
-In particular the group expects a substantial improvement in profitability in the Electricity Distribution and Generation business and continued good momentum in the Transmission business.
-The GBP3.4 billionn investment programme for the current year remains on target.
-The majority of this year's GBP2.5 billionn funding requirement has already been raised, with funding for around a further GBP400 million required in the current year.
-the company is in a sound financial position, National Grid expects the effective interest rate to continue to fall in the current year and on July 20, Moody's reaffirmed the credit ratings and changed its outlook from negative to stable.
-The company is well positioned to deliver a year of strong performance which will continue to underpin the 8% dividend growth policy through to March 2012.
-Continues to work with regulators and policy makers to deliver improved regulatory frameworks which will benefit both customers and shareholders.
-the company welcomes the recent U.K. Low Carbon Transition Plan White Paper and look forward to working with all parties to reduce U.K. carbon emissions by a third by 2020.
-Further progress has been made with the rate case filings in the U.S..
-Following the approval of the Rhode Island gas rate case last year with a return on equity of 10.5%, the company have received approval for two further rate cases for the U.S. gas businesses
-The company's NiMo gas rate case, recommended by New York Public Service Commission staff, was approved in full on May. 14, with a base return on equity of 10.2%.
-The New Hampshire gas rate case was approved on May 29, although the company was disappointed with the allowed return on equity of 9.54%, which was out of line with other regulatory decisions.
-In Massachusetts and Rhode Island the company filed electric rate cases on May. 15, and 1 June respectively.
-These filings will benefit both customers and shareholders by supporting much needed investment and full recovery of costs.
-The company expects a conclusion to be reached around the end of the year in Massachusetts and early next year in Rhode Island.
LONDON -(Dow Jones)- National Grid PLC (NG.LN), an international electricity and gas company, said Monday it is trading in line with expectations and it sees a strong operational and financial performance in 2009 to 2010; the group also confirmed it is in a sound financial position.
MAIN FACTS:
-Moody's credit ratings reaffirmed with stable outlook
-Continued progress in U.S. rate case filings
-Continues to trade in line with expectations of delivering a strong performance in 2009/10 across the businesses.
-In particular the group expects a substantial improvement in profitability in the Electricity Distribution and Generation business and continued good momentum in the Transmission business.
-The GBP3.4 billionn investment programme for the current year remains on target.
-The majority of this year's GBP2.5 billionn funding requirement has already been raised, with funding for around a further GBP400 million required in the current year.
-the company is in a sound financial position, National Grid expects the effective interest rate to continue to fall in the current year and on July 20, Moody's reaffirmed the credit ratings and changed its outlook from negative to stable.
-The company is well positioned to deliver a year of strong performance which will continue to underpin the 8% dividend growth policy through to March 2012.
-Continues to work with regulators and policy makers to deliver improved regulatory frameworks which will benefit both customers and shareholders.
-the company welcomes the recent U.K. Low Carbon Transition Plan White Paper and look forward to working with all parties to reduce U.K. carbon emissions by a third by 2020.
-Further progress has been made with the rate case filings in the U.S..
-Following the approval of the Rhode Island gas rate case last year with a return on equity of 10.5%, the company have received approval for two further rate cases for the U.S. gas businesses
-The company's NiMo gas rate case, recommended by New York Public Service Commission staff, was approved in full on May. 14, with a base return on equity of 10.2%.
-The New Hampshire gas rate case was approved on May 29, although the company was disappointed with the allowed return on equity of 9.54%, which was out of line with other regulatory decisions.
-In Massachusetts and Rhode Island the company filed electric rate cases on May. 15, and 1 June respectively.
-These filings will benefit both customers and shareholders by supporting much needed investment and full recovery of costs.
-The company expects a conclusion to be reached around the end of the year in Massachusetts and early next year in Rhode Island.
skinny
- 03 Aug 2009 17:26
- 42 of 224
UPDATE:National Grid Mulls Expandin LNG Capacity At UK's Grain
(Updates with European imports.)
LONDON -(Dow Jones)- U.K. natural gas grid operator National Grid PLC (NGG) is considering making more space available for unloading and temporary storage of liquefied natural gas at its Isle of Grain importation terminal, the company said Monday.
Commissioned in July 2005 and expanded in December 2008, the terminal in southeast England can provide 9.8 million metric tons of LNG a year. However, it is hoped it will be able to offer an additional 5 million tons of LNG capacity a year between winter 2011 and winter 2012, and the operating company is considering expanding this further.
U.K. oil and gas company BP PLC (BP), state-owned Algerian energy company Sonatrach, U.K. utility Centrica PLC (CNA.LN) and French utility GDF Suez SA (GSZ.FR) are the capacity holders at the terminal.
"This was the first U.K. LNG importation terminal of the modern era, and will have the capacity to meet 20% of Britain's gas demand by winter 2012," said Peter Boreham, National Grid's Director of U.K. LNG.
"Our investment in the existing three phases is near GBP1 billion and if there is market appetite for more capacity then we'll look to invest further and develop Grain phase 4."
European imports of LNG are projected to hit a record 4.554 million metric tons in July, according to data from analysts at consultancy Waterborne, a 40% increase over figures for July, 2008; and will reach 4.169 million tons in August, a 45% jump on the year.
-By Angela Henshall, Dow Jones Newswires; +44 (0)20 7842 9285; angela.henshall@dowjones.com
(Updates with European imports.)
LONDON -(Dow Jones)- U.K. natural gas grid operator National Grid PLC (NGG) is considering making more space available for unloading and temporary storage of liquefied natural gas at its Isle of Grain importation terminal, the company said Monday.
Commissioned in July 2005 and expanded in December 2008, the terminal in southeast England can provide 9.8 million metric tons of LNG a year. However, it is hoped it will be able to offer an additional 5 million tons of LNG capacity a year between winter 2011 and winter 2012, and the operating company is considering expanding this further.
U.K. oil and gas company BP PLC (BP), state-owned Algerian energy company Sonatrach, U.K. utility Centrica PLC (CNA.LN) and French utility GDF Suez SA (GSZ.FR) are the capacity holders at the terminal.
"This was the first U.K. LNG importation terminal of the modern era, and will have the capacity to meet 20% of Britain's gas demand by winter 2012," said Peter Boreham, National Grid's Director of U.K. LNG.
"Our investment in the existing three phases is near GBP1 billion and if there is market appetite for more capacity then we'll look to invest further and develop Grain phase 4."
European imports of LNG are projected to hit a record 4.554 million metric tons in July, according to data from analysts at consultancy Waterborne, a 40% increase over figures for July, 2008; and will reach 4.169 million tons in August, a 45% jump on the year.
-By Angela Henshall, Dow Jones Newswires; +44 (0)20 7842 9285; angela.henshall@dowjones.com
skinny
- 19 Nov 2009 08:02
- 43 of 224
HARRYCAT
- 24 Nov 2009 13:50
- 44 of 224
.
Goes ex-divi wed 2nd Dec '09.
Goes ex-divi wed 2nd Dec '09.
skinny
- 24 Nov 2009 14:17
- 45 of 224
Harry this been a good share for my ISA - last lot bought after last divi high 520's.
skinny
- 01 Dec 2009 16:12
- 46 of 224
National Grid Massachusetts $44 Million Electric Rate Case Approved
LONDON -(Dow Jones)- National Grid Plc (NG.LN), an electricity and gas company, announced Tuesday it has received the approval of a new $44 million rate plan for its electricity distribution business in Massachusetts.
MAIN FACTS:
-The MA DPU order approved a $44 million rate increase, with effect from January 1, 2010.
-In addition, the MA DPU approved a deferral mechanism for the recovery of $24 million of costs associated with the December 2008 ice storm.
-Main features of the order included:
* 10.35% return on equity, with an assumed equity ratio of 43.15% and a $1,52 billion rate base
* Volume - revenue decoupling
* An annual capital investment tracker
* Annual trackers for pensions and OPEB costs
* Improved bad debt recovery allowances.
-This business represents about 10% of National Grid's U.S. operations.
-The Massachusetts Department of Utilities (MA DPU) decision results in 60% of its U.S. operations now being covered by new rate plans.
-This is the first new electricity distribution rate plan National Grid will operate under since 1999.
LONDON -(Dow Jones)- National Grid Plc (NG.LN), an electricity and gas company, announced Tuesday it has received the approval of a new $44 million rate plan for its electricity distribution business in Massachusetts.
MAIN FACTS:
-The MA DPU order approved a $44 million rate increase, with effect from January 1, 2010.
-In addition, the MA DPU approved a deferral mechanism for the recovery of $24 million of costs associated with the December 2008 ice storm.
-Main features of the order included:
* 10.35% return on equity, with an assumed equity ratio of 43.15% and a $1,52 billion rate base
* Volume - revenue decoupling
* An annual capital investment tracker
* Annual trackers for pensions and OPEB costs
* Improved bad debt recovery allowances.
-This business represents about 10% of National Grid's U.S. operations.
-The Massachusetts Department of Utilities (MA DPU) decision results in 60% of its U.S. operations now being covered by new rate plans.
-This is the first new electricity distribution rate plan National Grid will operate under since 1999.
skinny
- 02 Dec 2009 15:37
- 47 of 224
Massachusetts Governor: National Grid To Negotiate For Cape Wind Power
NEW YORK -(Dow Jones)- National Grid PLC (NGG) will negotiate to buy power from a long-planned wind farm off the coast of Cape Cod, Mass., helping to move along what's likely to be the nation's first offshore wind facility, the Massachusetts' governor office said Wednesday.
Gov. Deval Patrick said in a statement that National Grid will soon file with state regulators to start negotiations with Cape Wind. A long-term contract is critical to obtaining financing for the project planned for Nantucket Sound, his office said.
The controversial project has faced major delays as local residents raised numerous objections, and the developers still await a decision from the U.S. Department of Interior, which is seen as the project's last major hurdle.
"National Grid supports the Commonwealth's goal to expand renewable generation in Massachusetts, including offshore wind," said National Grid President Tom King in a statement.
-By Mark Peters, Dow Jones Newswires; 212-416-2457; mark.peters@dowjones.com
NEW YORK -(Dow Jones)- National Grid PLC (NGG) will negotiate to buy power from a long-planned wind farm off the coast of Cape Cod, Mass., helping to move along what's likely to be the nation's first offshore wind facility, the Massachusetts' governor office said Wednesday.
Gov. Deval Patrick said in a statement that National Grid will soon file with state regulators to start negotiations with Cape Wind. A long-term contract is critical to obtaining financing for the project planned for Nantucket Sound, his office said.
The controversial project has faced major delays as local residents raised numerous objections, and the developers still await a decision from the U.S. Department of Interior, which is seen as the project's last major hurdle.
"National Grid supports the Commonwealth's goal to expand renewable generation in Massachusetts, including offshore wind," said National Grid President Tom King in a statement.
-By Mark Peters, Dow Jones Newswires; 212-416-2457; mark.peters@dowjones.com
skinny
- 04 Feb 2010 07:45
- 48 of 224
Interim management Statement.
HIGHLIGHTS
Well positioned for another year of strong performance, in line with our expectations
Continued regulatory progress in US: Niagara Mohawk electric rate case filed 29 January
UK transmission price control review to be rolled over for another year to April 2013
In line with its policy, the Board expects to recommend an 8% increase in the full year dividend
HIGHLIGHTS
Well positioned for another year of strong performance, in line with our expectations
Continued regulatory progress in US: Niagara Mohawk electric rate case filed 29 January
UK transmission price control review to be rolled over for another year to April 2013
In line with its policy, the Board expects to recommend an 8% increase in the full year dividend
skinny
- 20 Apr 2010 12:39
- 49 of 224
Finals on 20th May.
skinny
- 20 May 2010 08:14
- 50 of 224
National Grid plc
Results for the year ended 31 March 2010
HIGHLIGHTS
Strong performance
Earnings per share up 14%1
8% increase recommended in full year dividend; policy reaffirmed to 2012
Good progress with US rate case filings
Capital investment of GBP3.3bn; in line with plans
Capital investment plan of GBP22bn targeted over the next five years
Fully underwritten rights issue announced to raise GBP3.2bn after expenses
Full details are set out in a separate announcement released today
Positive outlook for 2010/11 with current trading in line with our
expectations
National Grid To Raise GBP3.2 Billion Via 2:5 Rights Issue/335P
LONDON (Dow Jones)
U.K. utility firm National Grid PLC said Thursday it plans to raise GBP3.2 billion via a fully underwritten 2:5 rights issue of 990.44 million new shares at 335 pence each.
MAIN FACTS:
-Issue price represents a 44% discount to the closing middle market price per ordinary share, adjusted for the recommended final dividend for 2009/10 of 24.84 pence, on May 19 and a discount of 36% to the theoretical ex-rights price on the same basis.
-The funds will allow the Group to fund a significant increase in its U.K. capital investment; maintain single A credit ratings for its U.K. operating companies; and strengthen the Company's long-term competitive position.
-Group capital investment is forecast to total GBP22 billion in aggregate over the next five years
-National Grid intends to maintain its policy of targeting an 8% per annum increase in dividend until March 31, 2012, after adjusting the 2009/10 dividend to take account of the bonus element of the rights issue.
-Beyond 2012, National Grid intends to pursue a policy that targets real growth in dividends reflecting the strong growth prospects of the business.
-Shares closed Wednesday at 620 pence valuing the company at GBP1.54 billion.
Results for the year ended 31 March 2010
HIGHLIGHTS
Strong performance
Earnings per share up 14%1
8% increase recommended in full year dividend; policy reaffirmed to 2012
Good progress with US rate case filings
Capital investment of GBP3.3bn; in line with plans
Capital investment plan of GBP22bn targeted over the next five years
Fully underwritten rights issue announced to raise GBP3.2bn after expenses
Full details are set out in a separate announcement released today
Positive outlook for 2010/11 with current trading in line with our
expectations
National Grid To Raise GBP3.2 Billion Via 2:5 Rights Issue/335P
LONDON (Dow Jones)
U.K. utility firm National Grid PLC said Thursday it plans to raise GBP3.2 billion via a fully underwritten 2:5 rights issue of 990.44 million new shares at 335 pence each.
MAIN FACTS:
-Issue price represents a 44% discount to the closing middle market price per ordinary share, adjusted for the recommended final dividend for 2009/10 of 24.84 pence, on May 19 and a discount of 36% to the theoretical ex-rights price on the same basis.
-The funds will allow the Group to fund a significant increase in its U.K. capital investment; maintain single A credit ratings for its U.K. operating companies; and strengthen the Company's long-term competitive position.
-Group capital investment is forecast to total GBP22 billion in aggregate over the next five years
-National Grid intends to maintain its policy of targeting an 8% per annum increase in dividend until March 31, 2012, after adjusting the 2009/10 dividend to take account of the bonus element of the rights issue.
-Beyond 2012, National Grid intends to pursue a policy that targets real growth in dividends reflecting the strong growth prospects of the business.
-Shares closed Wednesday at 620 pence valuing the company at GBP1.54 billion.
Clubman3509
- 20 May 2010 08:27
- 51 of 224
Can anyone please explain this to me. Holding NG 494 shares
skinny
- 20 May 2010 08:32
- 52 of 224
You will be able to buy 2 shares @335p for every 5 you hold. So for you - 197.6 shares.
Clubman3509
- 20 May 2010 08:38
- 53 of 224
Thank's Skinny. What if I do not wish to buy any new shares,
skinny
- 20 May 2010 08:46
- 54 of 224
Then your rights will be sold and you will recieve the proceeds. Have a look here.
Clubman3509
- 20 May 2010 08:53
- 55 of 224
Thank's
The Other Kevin
- 26 May 2010 11:23
- 56 of 224
MAM say they are not putting NG.N (the nil paid) on Level 2. Strange.
Clubman3509
- 26 May 2010 14:44
- 57 of 224
Price Data
National Grid (NP-11/06/2010) (NG.N)
Currency UK Pounds
Price 132.25p
Change Today 0.000p
Volume 9,010,024
--10 Close 0.000p
Shares Issued 990.44m
Market Cap 1,309.86m
Year End 31-Mar-10
National Grid (NP-11/06/2010) (NG.N)
Currency UK Pounds
Price 132.25p
Change Today 0.000p
Volume 9,010,024
--10 Close 0.000p
Shares Issued 990.44m
Market Cap 1,309.86m
Year End 31-Mar-10
skinny
- 26 Jul 2010 07:44
- 58 of 224
Interin Management Statement.
HIGHLIGHTS
Outlook for the year remains positive, in line with our expectations
Successful 3.2bn rights issue
Capital expenditure programme remains on track - 1.3 GW new connections contracted in the period
US regulatory filings progressing
Industry preparations for the UK transmission price control reviews continue
HIGHLIGHTS
Outlook for the year remains positive, in line with our expectations
Successful 3.2bn rights issue
Capital expenditure programme remains on track - 1.3 GW new connections contracted in the period
US regulatory filings progressing
Industry preparations for the UK transmission price control reviews continue
skinny
- 04 Aug 2010 15:11
- 59 of 224
finally on the move after recent rights issue. (mind the gap)
Clubman3509
- 04 Aug 2010 15:36
- 60 of 224
I held on to mine and now in profit.
Clubman3509
- 05 Aug 2010 11:53
- 61 of 224
Go on my son up up and away
skinny
- 27 Aug 2010 11:15
- 62 of 224
It would be nice to see a bit more volume....
HARRYCAT
- 27 Aug 2010 15:35
- 63 of 224
All trading volumes seem to be thin this month, so not a bad graph considering.
6% div yield also pretty good.
6% div yield also pretty good.
skinny
- 27 Aug 2010 15:37
- 64 of 224
Yes - pennant looking to break to the upside?
skinny
- 09 Sep 2010 10:07
- 65 of 224
550 gone (for now)
skinny
- 10 Sep 2010 16:36
- 66 of 224
And 560 (for now).
skinny
- 18 Nov 2010 07:12
- 67 of 224
Half Yearly Report.
HIGHLIGHTS
Strong first half performance
Pre-tax profit1 up 45%
Earnings per share1 up 5% 4
Operating cash flow2 of 1,933m, up 20%
Capital investment3 of 1.7bn, up 122m
8% increase in the rebased interim dividend
Regulatory progress in the US
new rate agreements for Massachusetts gas companies
rate filing nearing completion in New York
Completed 3.2bn rights issue
UK Transmission capex increased to 627m
Net debt down 2.9bn from 31 March 2010
Well positioned for 2010/11
HIGHLIGHTS
Strong first half performance
Pre-tax profit1 up 45%
Earnings per share1 up 5% 4
Operating cash flow2 of 1,933m, up 20%
Capital investment3 of 1.7bn, up 122m
8% increase in the rebased interim dividend
Regulatory progress in the US
new rate agreements for Massachusetts gas companies
rate filing nearing completion in New York
Completed 3.2bn rights issue
UK Transmission capex increased to 627m
Net debt down 2.9bn from 31 March 2010
Well positioned for 2010/11
skinny
- 31 Jan 2011 14:11
- 68 of 224
Interim Management Statement.
HIGHLIGHTS
Well positioned for 2010/11 with operating profit significantly ahead of last year
Earnings per share expected to be broadly in line with the restated level for 2009/101, eliminating the dilutive impact of the rights issue in May 2010.
Capital expenditure programme now expected to total around 3.6bn for the full year
New rate order received for Niagara Mohawk Electric in the US
Restructuring and $200m US efficiency programme announced
Initial consultation on RIIO proposals for 2013 UK price reviews
Isle of Grain Phase 3 commenced commercial operations to plan
Change of Executive Directors' Responsibilities, Restructuring and $200m US
Efficiency Programme
HIGHLIGHTS
Well positioned for 2010/11 with operating profit significantly ahead of last year
Earnings per share expected to be broadly in line with the restated level for 2009/101, eliminating the dilutive impact of the rights issue in May 2010.
Capital expenditure programme now expected to total around 3.6bn for the full year
New rate order received for Niagara Mohawk Electric in the US
Restructuring and $200m US efficiency programme announced
Initial consultation on RIIO proposals for 2013 UK price reviews
Isle of Grain Phase 3 commenced commercial operations to plan
Change of Executive Directors' Responsibilities, Restructuring and $200m US
Efficiency Programme
skinny
- 09 Mar 2011 16:03
- 69 of 224
Failed at 580 again.
skinny
- 22 Mar 2011 14:53
- 70 of 224
Trying 580 again.
skinny
- 07 Apr 2011 13:18
- 71 of 224
Conclusion of independent review of US cost allocation
The review has concluded that deliberate misallocation of expenses had not occurred. However, it did identify that the continued use of multiple systems inherited from past acquisitions by National Grid's US business had resulted in significant complexity in both systems and processes. The report acknowledges that National Grid is already taking a number of actions to address these issues
The review has concluded that deliberate misallocation of expenses had not occurred. However, it did identify that the continued use of multiple systems inherited from past acquisitions by National Grid's US business had resulted in significant complexity in both systems and processes. The report acknowledges that National Grid is already taking a number of actions to address these issues
Bernard M - 07 Apr 2011 13:19 - 72 of 224
Acting as it should today, Defensive.
skinny
- 13 Apr 2011 13:08
- 73 of 224
Toying with 6 quid again.
skinny
- 28 Apr 2011 10:27
- 74 of 224
Ofgem E-Serve said Thursday that it has a short list of four bidders competing to own and run links to a further three offshore wind farms, and said the shortlisted bidders for the second tender round are competing to own and run connections to the Gwynt y Mor, Lincs and London Array, phase 1 offshore wind projects.
MAIN FACTS:
-The first round resulted in estimated savings of GBP350 million for offshore wind farms and ultimately consumers.
-The following bidders have been shortlisted for all three projects in the second tender round:
-*Balfour Beatty Equitix consortium, a consortium of Balfour Beatty Capital Ltd and Equitix Ltd
-*Blue Transmission, a consortium of Macquarie Capital Group Ltd, Barclays Infrastructure Funds Management Ltd and Mitsubishi Corporation
-*National Grid Offshore Ltd
-*Transmission Capital Partners, a consortium of Transmission Capital Partners Ltd and International Public Partnerships Ltd
-The shortlisted companies are bidding to become Offshore Transmission Owners or OFTOs which will take over ownership of the links and receive a stable, regulated income for 20 years.
-Ofgem expects to announce the preferred bidders for the Lincs and London Array phase 1 projects in autumn 2011.
-The preferred bidder for Gwynt y Mor will be selected later than the bidders for the other two projects, as construction is not as far advanced.
-Tenders for a further three projects in a follow up stage Tranche B to the second tender round - Humber Gateway, West of Duddon Sands and Race Bank - are expected to start next spring.
-In total these six projects represent around GBP2 billion of offshore transmission links connecting some 2.8 GW of offshore wind.
MAIN FACTS:
-The first round resulted in estimated savings of GBP350 million for offshore wind farms and ultimately consumers.
-The following bidders have been shortlisted for all three projects in the second tender round:
-*Balfour Beatty Equitix consortium, a consortium of Balfour Beatty Capital Ltd and Equitix Ltd
-*Blue Transmission, a consortium of Macquarie Capital Group Ltd, Barclays Infrastructure Funds Management Ltd and Mitsubishi Corporation
-*National Grid Offshore Ltd
-*Transmission Capital Partners, a consortium of Transmission Capital Partners Ltd and International Public Partnerships Ltd
-The shortlisted companies are bidding to become Offshore Transmission Owners or OFTOs which will take over ownership of the links and receive a stable, regulated income for 20 years.
-Ofgem expects to announce the preferred bidders for the Lincs and London Array phase 1 projects in autumn 2011.
-The preferred bidder for Gwynt y Mor will be selected later than the bidders for the other two projects, as construction is not as far advanced.
-Tenders for a further three projects in a follow up stage Tranche B to the second tender round - Humber Gateway, West of Duddon Sands and Race Bank - are expected to start next spring.
-In total these six projects represent around GBP2 billion of offshore transmission links connecting some 2.8 GW of offshore wind.
skinny
- 04 May 2011 08:24
- 75 of 224
NG - has now almost recovered the pre rights issue price and looks to be breaking out.
Bernard M - 04 May 2011 09:38 - 76 of 224
Go on my son up up and away.
skinny
- 18 May 2011 08:44
- 77 of 224
Finals tomorrow - still yielding 6.2%
Bernard M - 18 May 2011 09:46 - 78 of 224
Looking good. Also Booker finals.
skinny
- 19 May 2011 07:14
- 79 of 224
Preliminary Results.
Results for the year ended 31 March 2011
HIGHLIGHTS
Solid performance in 2010/11
-- Pre-tax profit1 up 25% and earnings per share(1) up 4%2
-- Good financial and operating performance
-- continued strong UK returns
-- US return up 130bps to 8.2% with actions underway for further improvement
-- Benefits from timing in year contributed approximately 5p/share
-- Operating cash flow3 up 12% at GBP4.7bn
Investing in growth and improving long-term returns
-- Strong balance sheet capacity for planned investment
-- Net debt of GBP18.7bn after GBP3.2bn rights issue in June 2010
-- Record capital investment(4 ) in 2010/11 of GBP3.6bn, up GBP265m
-- Expected investment of around GBP19bn in four years to end March 2015
-- Progress with US business improvement
-- Revenue decoupling and cost trackers implemented in the majority of businesses, though a disappointing revenue outcome from the Niagara Mohawk electric rate case
-- US restructuring and cost reduction programme progressing well
-- Divestment of New Hampshire businesses on track for completion in second half of 2011/12
Positive outlook for 2011/12 - focus on improving returns and efficiency
-- Benefits from US restructuring, rate case reviews and investment
-- Delivering value from increased investment in UK regulated assets.
Results for the year ended 31 March 2011
HIGHLIGHTS
Solid performance in 2010/11
-- Pre-tax profit1 up 25% and earnings per share(1) up 4%2
-- Good financial and operating performance
-- continued strong UK returns
-- US return up 130bps to 8.2% with actions underway for further improvement
-- Benefits from timing in year contributed approximately 5p/share
-- Operating cash flow3 up 12% at GBP4.7bn
Investing in growth and improving long-term returns
-- Strong balance sheet capacity for planned investment
-- Net debt of GBP18.7bn after GBP3.2bn rights issue in June 2010
-- Record capital investment(4 ) in 2010/11 of GBP3.6bn, up GBP265m
-- Expected investment of around GBP19bn in four years to end March 2015
-- Progress with US business improvement
-- Revenue decoupling and cost trackers implemented in the majority of businesses, though a disappointing revenue outcome from the Niagara Mohawk electric rate case
-- US restructuring and cost reduction programme progressing well
-- Divestment of New Hampshire businesses on track for completion in second half of 2011/12
Positive outlook for 2011/12 - focus on improving returns and efficiency
-- Benefits from US restructuring, rate case reviews and investment
-- Delivering value from increased investment in UK regulated assets.
skinny
- 19 May 2011 07:17
- 80 of 224
Dividend 36.37p +8%.
Bernard M - 19 May 2011 07:47 - 81 of 224
Looking good skinny thanks for post.
HARRYCAT
- 19 May 2011 08:47
- 82 of 224
.
skinny
- 20 May 2011 14:43
- 83 of 224
NG off to the races - ex dividend on 1st June.
skinny
- 31 May 2011 09:33
- 84 of 224
I'm tempted to sell some of these ahead of tomorrow's ex divi. Hmmm.
HARRYCAT
- 31 May 2011 09:37
- 85 of 224
Same argument/predicament on the VOD thread, but some say there will be a trading bounce in the afternoon to take advantage of the divi/sp drop. Tricky, imo.
skinny
- 31 May 2011 09:42
- 86 of 224
Harry - I have seen the statement of fact on there :-)
skinny
- 01 Jun 2011 13:34
- 87 of 224
In the end, I held here. I placed a few limit orders in the 590's - none of which have been filled!
HARRYCAT
- 01 Jun 2011 14:26
- 88 of 224
Bit of a scary correction there, skinny! Divi + a bit more? Chart still looking good though med term.
skinny
- 01 Jun 2011 14:32
- 89 of 224
Harry dividend is 23.47p - four figures for me which is nice.
Bernard M - 01 Jun 2011 15:14 - 90 of 224
FTSE dragging everything down.
Bernard M - 02 Jun 2011 07:59 - 91 of 224
Shorters will have the FTSE again today
skinny
- 02 Jun 2011 09:09
- 92 of 224
Just taken +5.5 points S/B - PMI Construction figures out at 9:30.
skinny
- 01 Jul 2011 12:18
- 93 of 224
U.K. oil and gas network operator National Grid PLC (NG.LN) Friday said Peter Gershon will succeed John Parker as chairman on Jan. 1, 2012.
Gershon, who is Chairman of Tate & Lyle PLC (TATE.LN), a provider of ingredients to the global food industry, will join National Grid's board on Aug. 1 as deputy chairman. He will assume the chairman role on Jan. 1 when Parker steps down.
Gershon is also chairman of General Healthcare Group Ltd. and Vertex Group Ltd., as well as a member of the U.K. Defense Academy Advisory Board and the government's Efficiency Board.
"He has a strong track-record of leading international businesses and working with governments and regulators at the highest level," said Ken Harvey, senior independent director of National Grid, who led the search for a new chairman.
According to a report in the U.K.'s Sunday Times newspaper in May, Bp PLC's (BP) former chief executive, John Browne, was the other final candidate for the role. There has been no official confirmation of this report.
At 0919 GMT National Grid's shares were unchanged at 612.50 pence, underperforming the broader U.K. market.
-By Konstantin Rozhnov, Dow Jones Newswires; +44 207 842 9004; konstantin.rozhnov@dowjones.com
Gershon, who is Chairman of Tate & Lyle PLC (TATE.LN), a provider of ingredients to the global food industry, will join National Grid's board on Aug. 1 as deputy chairman. He will assume the chairman role on Jan. 1 when Parker steps down.
Gershon is also chairman of General Healthcare Group Ltd. and Vertex Group Ltd., as well as a member of the U.K. Defense Academy Advisory Board and the government's Efficiency Board.
"He has a strong track-record of leading international businesses and working with governments and regulators at the highest level," said Ken Harvey, senior independent director of National Grid, who led the search for a new chairman.
According to a report in the U.K.'s Sunday Times newspaper in May, Bp PLC's (BP) former chief executive, John Browne, was the other final candidate for the role. There has been no official confirmation of this report.
At 0919 GMT National Grid's shares were unchanged at 612.50 pence, underperforming the broader U.K. market.
-By Konstantin Rozhnov, Dow Jones Newswires; +44 207 842 9004; konstantin.rozhnov@dowjones.com
skinny
- 25 Jul 2011 07:29
- 94 of 224
Interim Management Statement.
Good start to 2011/12
Solid operational and financial performance
US restructuring programme on track to deliver targeted annualised cost savings of $200m by March 2012
Capital expenditure projects in line with plan to invest around 3.6bn in 2011/12
Steve Holiday, Chief Executive, said:
"The year has started well with our businesses making good initial progress toward their priorities and delivering solid operational and financial performance. In the US, our focus remains on working towards improved returns through enhanced customer service and operating efficiencies. In the UK, our investment in regulated capital projects and the implementation of our Gas Distribution Front Office systems are proceeding well.
We reconfirm our positive outlook for 2011/12 - we expect to deliver another year of good operating performance, although, as previously highlighted, comparative financial results will show some impact from the timing differences that benefited 2010/11."
Good start to 2011/12
Solid operational and financial performance
US restructuring programme on track to deliver targeted annualised cost savings of $200m by March 2012
Capital expenditure projects in line with plan to invest around 3.6bn in 2011/12
Steve Holiday, Chief Executive, said:
"The year has started well with our businesses making good initial progress toward their priorities and delivering solid operational and financial performance. In the US, our focus remains on working towards improved returns through enhanced customer service and operating efficiencies. In the UK, our investment in regulated capital projects and the implementation of our Gas Distribution Front Office systems are proceeding well.
We reconfirm our positive outlook for 2011/12 - we expect to deliver another year of good operating performance, although, as previously highlighted, comparative financial results will show some impact from the timing differences that benefited 2010/11."
Bernard M - 25 Jul 2011 07:55 - 95 of 224
Thank's Skinny
skinny
- 19 Aug 2011 09:52
- 96 of 224
Holding up well and blue!
skinny
- 07 Sep 2011 13:44
- 97 of 224
Amazingly only 9 short of the 12 month high of 639.
skinny
- 13 Sep 2011 13:50
- 98 of 224
RNS Number : 1530O
National Grid PLC
13 September 2011
13 September 2011
The information contained herein may only be released, published or distributed in the United Kingdom,
Jersey and Guernsey. The information contained herein is not for release, publication or distribution in or into the United States, Australia, Canada, Japan, South Africa, Republic of Ireland or in any other jurisdiction where it is unlawful to distribute this press release. The bonds may only be sold in Jersey in compliance with the provisions of the Control of Borrowing (Jersey) Order 1958.
NATIONAL GRID LAUNCHES RPI LINKED 10 YEAR STERLING RETAIL BOND
National Grid has today launched a 10 year RPI linked Sterling bond available to retail investors.
The bonds will pay interest semi-annually at a 1.25% annual gross rate of interest adjusted to take account of changes in the level of the Retail Price Index*. On maturity, the amount due to be paid will be the full face value of the bonds adjusted to take account of any overall increase in the RPI. However on maturity, even if the RPI has fallen, National Grid will be required to repay the bonds at no less than their full face value.
National Grid is the first company to issue an RPI-linked bond available to retail investors, having traditionally only offered such bonds to major institutional investors. National Grid has a capital investment programme of approximately GBP22bn for the period from 2010 to 2015 for which it requires funding.
Malcolm Cooper, Global Tax and Treasury Director at National Grid, said
"National Grid is a relatively low risk business due to the demand for what we do and our highly regulated nature. There is evidence of strong demand from retail investors for inflation linked products to protect them from certain effects of inflation, and we hope that this product will address some of that demand".
Barclays Capital and Evolution Securities Limited have been appointed Joint Lead Managers of the bond issue. The bonds are expected to be issued on 6 October 2011. The offer period for the bonds is expected to remain open until 29 September 2011 but may close earlier.
The bonds are being issued by National Grid plc pursuant to its EUR15,000,000,000 EMTN programme and are expected to be listed on the London Stock Exchange (LSE) and to trade on the LSE's Order book for Retail Bonds.
* Inflation adjustments will be calculated by comparing the RPI level relating to the month which is 8 months before each payment is due to be made with the RPI level relating to the month which was 8 months before the October 2011 issue date, i.e. February 2011. For more information please read the Information Booklet, Prospectus and Final Terms relating to the bonds.
--ENDS--
National Grid PLC
13 September 2011
13 September 2011
The information contained herein may only be released, published or distributed in the United Kingdom,
Jersey and Guernsey. The information contained herein is not for release, publication or distribution in or into the United States, Australia, Canada, Japan, South Africa, Republic of Ireland or in any other jurisdiction where it is unlawful to distribute this press release. The bonds may only be sold in Jersey in compliance with the provisions of the Control of Borrowing (Jersey) Order 1958.
NATIONAL GRID LAUNCHES RPI LINKED 10 YEAR STERLING RETAIL BOND
National Grid has today launched a 10 year RPI linked Sterling bond available to retail investors.
The bonds will pay interest semi-annually at a 1.25% annual gross rate of interest adjusted to take account of changes in the level of the Retail Price Index*. On maturity, the amount due to be paid will be the full face value of the bonds adjusted to take account of any overall increase in the RPI. However on maturity, even if the RPI has fallen, National Grid will be required to repay the bonds at no less than their full face value.
National Grid is the first company to issue an RPI-linked bond available to retail investors, having traditionally only offered such bonds to major institutional investors. National Grid has a capital investment programme of approximately GBP22bn for the period from 2010 to 2015 for which it requires funding.
Malcolm Cooper, Global Tax and Treasury Director at National Grid, said
"National Grid is a relatively low risk business due to the demand for what we do and our highly regulated nature. There is evidence of strong demand from retail investors for inflation linked products to protect them from certain effects of inflation, and we hope that this product will address some of that demand".
Barclays Capital and Evolution Securities Limited have been appointed Joint Lead Managers of the bond issue. The bonds are expected to be issued on 6 October 2011. The offer period for the bonds is expected to remain open until 29 September 2011 but may close earlier.
The bonds are being issued by National Grid plc pursuant to its EUR15,000,000,000 EMTN programme and are expected to be listed on the London Stock Exchange (LSE) and to trade on the LSE's Order book for Retail Bonds.
* Inflation adjustments will be calculated by comparing the RPI level relating to the month which is 8 months before each payment is due to be made with the RPI level relating to the month which was 8 months before the October 2011 issue date, i.e. February 2011. For more information please read the Information Booklet, Prospectus and Final Terms relating to the bonds.
--ENDS--
skinny
- 19 Sep 2011 16:27
- 99 of 224
A strong finish today.
Bernard M - 19 Sep 2011 16:52 - 100 of 224
Nice one
skinny
- 20 Sep 2011 15:42
- 101 of 224
I love these boring shares - 639 is the 12 month high.
HARRYCAT
- 20 Sep 2011 18:30
- 102 of 224
National Grid Index-Linked 2021
National Grid PLC has launched the first index-linked bond in the resurgent Sterling retail bond markets, which distributes gas and electricity in the UK and operates utilities in the USA.
The company plans to raise around 100 to 200 million from the new security, offering a new retail-targeted 10-year bond with both the coupon and the redemption proceeds linked to the RPI.
Mark Glowrey, analyst and director at Stockcube Research comments:
Structurally, the NG issue mirrors the "old style" index-linked gilts. The bond is issued at par with a 1.25% coupon. This coupon will be adjusted by the RPI going forward (on an 8-month lagging basis). Thus, if over the next five years the RPI increases by 20%, the coupon will creep up to 1.5%. Perhaps more importantly, the value of the principle is also protected by the RPI linkage. If the RPI increases by 40% over the ten-year period of the bond, holders will receive back 140p in the pound on the bond's maturity in 2021. However, the converse is also true if the RPI decreases, the coupon and the value of the principle will also decrease.
National Grid PLC has launched the first index-linked bond in the resurgent Sterling retail bond markets, which distributes gas and electricity in the UK and operates utilities in the USA.
The company plans to raise around 100 to 200 million from the new security, offering a new retail-targeted 10-year bond with both the coupon and the redemption proceeds linked to the RPI.
Mark Glowrey, analyst and director at Stockcube Research comments:
Structurally, the NG issue mirrors the "old style" index-linked gilts. The bond is issued at par with a 1.25% coupon. This coupon will be adjusted by the RPI going forward (on an 8-month lagging basis). Thus, if over the next five years the RPI increases by 20%, the coupon will creep up to 1.5%. Perhaps more importantly, the value of the principle is also protected by the RPI linkage. If the RPI increases by 40% over the ten-year period of the bond, holders will receive back 140p in the pound on the bond's maturity in 2021. However, the converse is also true if the RPI decreases, the coupon and the value of the principle will also decrease.
Bernard M - 20 Sep 2011 19:18 - 103 of 224
Nice one NG
skinny
- 20 Sep 2011 20:45
- 104 of 224
Harry - check post 98.
HARRYCAT
- 20 Sep 2011 21:58
- 105 of 224
Gotcha..... failed to see that. Will sit on the naughty step for an hour.
Not sure the new bond is such a good idea for retail investors, unless they have stacks of dosh and are prepared to lock up cash for a long period. I suppose premiership footballers and the like are better targets than us mortals.
Not sure the new bond is such a good idea for retail investors, unless they have stacks of dosh and are prepared to lock up cash for a long period. I suppose premiership footballers and the like are better targets than us mortals.
skinny
- 21 Sep 2011 08:44
- 106 of 224
12 month high just gone.
NG. v UKX
NG. v UKX
mnamreh - 21 Sep 2011 08:49 - 107 of 224
.
skinny
- 21 Sep 2011 08:53
- 108 of 224
Sorry - UKX - now annotated.
mnamreh - 21 Sep 2011 08:56 - 109 of 224
.
skinny
- 21 Sep 2011 13:40
- 110 of 224
Chart wise 660 looks achievable.
Bernard M - 21 Sep 2011 13:42 - 111 of 224
Easy peasy skinny, 700 before end of the year.
skinny
- 21 Sep 2011 14:08
- 112 of 224
That will be 650 then - I love boring shares :-)
Bernard M - 21 Sep 2011 14:27 - 113 of 224
You should buy Tesco then.
skinny
- 21 Sep 2011 14:29
- 114 of 224
Bernard - I have them - albeit from north of the current price.
Bernard M - 21 Sep 2011 14:31 - 115 of 224
You would have made more money putting the cash in the post office.
skinny
- 21 Sep 2011 16:38
- 116 of 224
Here is a man who trusts his wife :-)
RNS Number : 6901O
National Grid PLC
21 September 2011
21 September 2011
National Grid plc (NG.)
Directors Interests In Shares
Nick Winser has received confirmation from the Company's Registrars that 196,112 NG ordinary shares formerly registered in his own name have today been transferred to his spouse, Mrs D Winser. His interest remains unchanged, in a total of 1,032,301 NG ordinary shares.
RNS Number : 6901O
National Grid PLC
21 September 2011
21 September 2011
National Grid plc (NG.)
Directors Interests In Shares
Nick Winser has received confirmation from the Company's Registrars that 196,112 NG ordinary shares formerly registered in his own name have today been transferred to his spouse, Mrs D Winser. His interest remains unchanged, in a total of 1,032,301 NG ordinary shares.
hangon - 22 Sep 2011 23:25 - 117 of 224
Dir shares move)... That confuses me, still never mind.
Now, anyone into these NG. Bonds? They look like good value, being g'teed not to fall below their "face value" - and will pay 1.5% above inflation . . . so very good if inflation develops - which more QE is bound to happen, even if very slowly.
Now, anyone into these NG. Bonds? They look like good value, being g'teed not to fall below their "face value" - and will pay 1.5% above inflation . . . so very good if inflation develops - which more QE is bound to happen, even if very slowly.
skinny
- 29 Sep 2011 08:03
- 118 of 224
RNS Number : 1532P
National Grid PLC
29 September 2011
29 September 2011
National Grid plc
Board Appointment
National Grid today announces the appointment of Ruth Kelly as a Non-executive Director with effect from 1 October 2011.
Ruth Kelly is a Managing Director at Hsbc and has held various important roles during her ministerial career in Government from 2001 to 2008. These roles included Secretary of State for Transport, Secretary of State for Communities and Local Government, Secretary of State for Education and Skills and Financial Secretary to the Treasury. She is also a Governor for the National Institute of Economic and Social Research. She has a MSc in Economics from the London School of Economics and spent her early career in the Bank of England.
Sir John Parker, Chairman, said: "I warmly welcome Ruth to the Board of National Grid. Ruth brings a wealth of financial and economic experience, knowledge of large infrastructure projects and the regulatory interfaces from her years in the higher levels of Government and in her current role at HSBC."
National Grid confirms that no further information is required to be disclosed pursuant to LR 9.6.13R of the Listing Rules of the UK Financial Services Authority.
National Grid PLC
29 September 2011
29 September 2011
National Grid plc
Board Appointment
National Grid today announces the appointment of Ruth Kelly as a Non-executive Director with effect from 1 October 2011.
Ruth Kelly is a Managing Director at Hsbc and has held various important roles during her ministerial career in Government from 2001 to 2008. These roles included Secretary of State for Transport, Secretary of State for Communities and Local Government, Secretary of State for Education and Skills and Financial Secretary to the Treasury. She is also a Governor for the National Institute of Economic and Social Research. She has a MSc in Economics from the London School of Economics and spent her early career in the Bank of England.
Sir John Parker, Chairman, said: "I warmly welcome Ruth to the Board of National Grid. Ruth brings a wealth of financial and economic experience, knowledge of large infrastructure projects and the regulatory interfaces from her years in the higher levels of Government and in her current role at HSBC."
National Grid confirms that no further information is required to be disclosed pursuant to LR 9.6.13R of the Listing Rules of the UK Financial Services Authority.
skinny
- 30 Sep 2011 07:13
- 119 of 224
RNS Number : 2514P
National Grid PLC
30 September 2011
National Grid PLC 30 September 2011 National Grid RPI Linked 10 year Sterling Bond - Close of Offer Period
National Grid announces that the offer period for its RPI linked 10 year Sterling bond which began on September 13(th) has now closed. The final issue size is GBP260m.
National Grid is the first company to issue an RPI linked bond available to retail investors and listed on the LSE's Order Book for Retail Bonds ("ORB"), having previously only offered such bonds to major institutional investors. This issue also represents the largest amount raised to date in an ORB transaction.
Malcolm Cooper, Global Tax and Treasury Director at National Grid, said:
"This has clearly exceeded our expectations and we are extremely pleased about the total amount raised. This shows that there is demand for inflation linked products from a business such as National Grid".
National Grid has a history of diversifying its funding sources as a prudent way of managing risk and the success of this offering means that National Grid may consider expanding its offerings to retail investors over the coming years.
National Grid PLC
30 September 2011
National Grid PLC 30 September 2011 National Grid RPI Linked 10 year Sterling Bond - Close of Offer Period
National Grid announces that the offer period for its RPI linked 10 year Sterling bond which began on September 13(th) has now closed. The final issue size is GBP260m.
National Grid is the first company to issue an RPI linked bond available to retail investors and listed on the LSE's Order Book for Retail Bonds ("ORB"), having previously only offered such bonds to major institutional investors. This issue also represents the largest amount raised to date in an ORB transaction.
Malcolm Cooper, Global Tax and Treasury Director at National Grid, said:
"This has clearly exceeded our expectations and we are extremely pleased about the total amount raised. This shows that there is demand for inflation linked products from a business such as National Grid".
National Grid has a history of diversifying its funding sources as a prudent way of managing risk and the success of this offering means that National Grid may consider expanding its offerings to retail investors over the coming years.
hangon - 23 Oct 2011 16:28 - 120 of 224
Is this Bond listed on this site....can someone give me the "Code" so I can track this issue?
Wasn't this a Retail Offer (last lines of 119=prev. post).
Wasn't this a Retail Offer (last lines of 119=prev. post).
dreamcatcher
- 23 Oct 2011 16:39
- 121 of 224
HARRYCAT
- 23 Oct 2011 16:43
- 122 of 224
NG1Q is the ticker for the Index linked Corporate Bond Issue, but don't think MoneyAm is offering that service.
skinny
- 24 Oct 2011 06:58
- 123 of 224
Yes its not covered here - you can follow it over the road.
skinny
- 24 Oct 2011 10:31
- 124 of 224
National Grid PLC (NG.LN), an international electricity and gas company said Monday that it has agreed the sale of Utility Metering Services which trades as Onstream, a non-regulated metering business in the U.K., to Macquarie Bank Ltd, for a total consideration of GBP274.3 million.
MAIN FACTS:
-The cash proceeds from the sale will be used within National Grid to fund the continuing investment program.
-The sale, which is unconditional, is expected to complete shortly.
-Onstream is a non-regulated gas and electricity metering business and represents around 9% of National Grid's total U.K. metering activities by operating profit.
-The sale of Onstream provides a clean exit from the business at an appropriate juncture in its development and delivers good value for investors.
-Shares at 0838 GMT up 1 pence, or 0.2%, at 637 pence, valuing the company at GBP22.64 billion.
MAIN FACTS:
-The cash proceeds from the sale will be used within National Grid to fund the continuing investment program.
-The sale, which is unconditional, is expected to complete shortly.
-Onstream is a non-regulated gas and electricity metering business and represents around 9% of National Grid's total U.K. metering activities by operating profit.
-The sale of Onstream provides a clean exit from the business at an appropriate juncture in its development and delivers good value for investors.
-Shares at 0838 GMT up 1 pence, or 0.2%, at 637 pence, valuing the company at GBP22.64 billion.
dreamcatcher
- 13 Nov 2011 18:01
- 125 of 224
Thursday - National Grid, which operates Britain's power and gas networks, offers its interim results. John Musk, an analyst at RBC Capital Markets, expects it to report pre-tax profits for the half of 961m, against 971m a year earlier. The UK regulatory environment remains "attractive" and that National Grid's US business is improving, he said. But he estimates the operator faces 150m additional costs in US electricity distribution because of Hurricane Irene this summer
skinny
- 17 Nov 2011 07:12
- 126 of 224
Half Yearly Report.
HIGHLIGHTS
Good underlying performance in first 6 months of 2011/12
Profit before tax1 up 2%, up 19% excluding impact of timing and Hurricane Irene2
Operating profit1 up 7% at constant currency3 excluding impact of timing and Hurricane Irene
Earnings per share1 down4 2% at 19.6p, up 14% excluding impact of timing and Hurricane Irene
Interim dividend increased by 8%, in line with policy
Good strategic progress
Delivering our core investment programme to drive growth in our asset base
Submitted RIIO Transmission business plans, including 25bn of forecast capital investment
Transition to new US operating model completed
$200m cost reduction programme on track
Over 350m of cash generated through disposals of non-core assets from our portfolio in October
Outlook and priorities unchanged
Focus on improving returns and efficiency
New RoCE metric introduced to increase clarity of portfolio performance
HIGHLIGHTS
Good underlying performance in first 6 months of 2011/12
Profit before tax1 up 2%, up 19% excluding impact of timing and Hurricane Irene2
Operating profit1 up 7% at constant currency3 excluding impact of timing and Hurricane Irene
Earnings per share1 down4 2% at 19.6p, up 14% excluding impact of timing and Hurricane Irene
Interim dividend increased by 8%, in line with policy
Good strategic progress
Delivering our core investment programme to drive growth in our asset base
Submitted RIIO Transmission business plans, including 25bn of forecast capital investment
Transition to new US operating model completed
$200m cost reduction programme on track
Over 350m of cash generated through disposals of non-core assets from our portfolio in October
Outlook and priorities unchanged
Focus on improving returns and efficiency
New RoCE metric introduced to increase clarity of portfolio performance
dreamcatcher
- 17 Nov 2011 12:18
- 127 of 224
Matthew Holehouse, 11:58, Thursday 17 November 2011
National Grid (LSE: NG.L - news) has reported a 3.1pc dip in pre-tax profits after Hurricane Irene and snow storms in America left the power distributor nursing a 140m clean-up bill.
Steve Holliday, the chief executive, said a series of storms had given the power distributor a "pretty exceptional six months in the US".
National Grid reported a 3.1pc fall in pre-tax profits for the six months to 30 September to 971m, down 30m.
The bill for Hurricane Irene came to 69m and the snow storms to 50m, bringing the total storm costs for the period to 140m - against 25m in the previous year.
Once the impact of Hurricane Irene and timing differences on the collection of revenues were factored in, underlying profits were up 19pc, the company said in a statement.
Revenue for the half fell 2pc to 6.306bn.
Shares rose in morning trading 6 to 633p.
Hurricane Irene flattened power lines and knocked out two nuclear power stations, leaving 1.4m National Grid customers without electricity for up to a week. It was followed by 30 inches of snow in Massachusettes in October, again shutting down supply.
"We will work hard to recover that cost over the next few years," Holliday said.
He said the restructuring of the US business had not hindered their response to the storms, which killed 56 people and caused extensive flooding and wind damage through the Caribbean, US and Canada. "The response was exceptional," he said.
He acknowledged the anger of customers, saying: "When a storm comes and your power's off for that duration people aren't happy. People want their power back. As customers, our expectations are getting higher. People expect more from us."
National Grid has cut 1150 positions in the US as part of a 127m cost cutting drive.
The company has scheduled 3.2-3.3bn of capital expenditure to upgrade the UK electricity and gas networks.
Holliday said he was "concerned" by the number of workplace accidents in the past six months and said he would "redouble efforts" to ensure safety.
"We will use the lessons learned from incidents over the period to further reduce risks for our people, our customers, our contractors and the public," the company said.
The company will pay an interim dividend of 13.93p a share, up 8pc, on January 18.
National Grid (LSE: NG.L - news) has reported a 3.1pc dip in pre-tax profits after Hurricane Irene and snow storms in America left the power distributor nursing a 140m clean-up bill.
Steve Holliday, the chief executive, said a series of storms had given the power distributor a "pretty exceptional six months in the US".
National Grid reported a 3.1pc fall in pre-tax profits for the six months to 30 September to 971m, down 30m.
The bill for Hurricane Irene came to 69m and the snow storms to 50m, bringing the total storm costs for the period to 140m - against 25m in the previous year.
Once the impact of Hurricane Irene and timing differences on the collection of revenues were factored in, underlying profits were up 19pc, the company said in a statement.
Revenue for the half fell 2pc to 6.306bn.
Shares rose in morning trading 6 to 633p.
Hurricane Irene flattened power lines and knocked out two nuclear power stations, leaving 1.4m National Grid customers without electricity for up to a week. It was followed by 30 inches of snow in Massachusettes in October, again shutting down supply.
"We will work hard to recover that cost over the next few years," Holliday said.
He said the restructuring of the US business had not hindered their response to the storms, which killed 56 people and caused extensive flooding and wind damage through the Caribbean, US and Canada. "The response was exceptional," he said.
He acknowledged the anger of customers, saying: "When a storm comes and your power's off for that duration people aren't happy. People want their power back. As customers, our expectations are getting higher. People expect more from us."
National Grid has cut 1150 positions in the US as part of a 127m cost cutting drive.
The company has scheduled 3.2-3.3bn of capital expenditure to upgrade the UK electricity and gas networks.
Holliday said he was "concerned" by the number of workplace accidents in the past six months and said he would "redouble efforts" to ensure safety.
"We will use the lessons learned from incidents over the period to further reduce risks for our people, our customers, our contractors and the public," the company said.
The company will pay an interim dividend of 13.93p a share, up 8pc, on January 18.
HARRYCAT
- 22 Nov 2011 09:45
- 128 of 224
Ex-divi on 30th Nov '11, (13.93p)
skinny
- 23 Dec 2011 12:29
- 129 of 224
Just sold a third of my holding here @616.06.
skinny
- 09 Jan 2012 14:46
- 130 of 224
Upgraded to Outperform at Exane BNP Paribas Old TP 645.00p New TP 725.00p
skinny
- 31 Jan 2012 07:07
- 131 of 224
Interim Management Statement.
HIGHLIGHTS
-- Continued solid operational and financial performance
-- On track to deliver US efficiency initiatives
-- UK Gas Distribution RIIO business plans submitted in November
-- One year framework for the 2012/13 UK Transmission price controls agreed in December
-- $240m Niagara Mohawk deferrals recovery approved
-- 1 year dividend policy announced: 4% nominal dividend growth planned for 2012/13
HIGHLIGHTS
-- Continued solid operational and financial performance
-- On track to deliver US efficiency initiatives
-- UK Gas Distribution RIIO business plans submitted in November
-- One year framework for the 2012/13 UK Transmission price controls agreed in December
-- $240m Niagara Mohawk deferrals recovery approved
-- 1 year dividend policy announced: 4% nominal dividend growth planned for 2012/13
skinny
- 31 Jan 2012 07:19
- 132 of 224
skinny
- 01 Feb 2012 13:36
- 133 of 224
Credit Suisse reiterates Outperform TP 700.00p.
dreamcatcher
- 01 Feb 2012 20:22
- 134 of 224
..Questor share tip: Planned growth in dividend lights up National Grid
By Garry White | Telegraph – 13 hours ago
......
Utilities (Santiago: UTILITIES.SN - news) shares are attractive for widows and orphans and yesterday's long-awaited dividend announcement from National Grid (LSE: NG.L - news) is what they wanted to hear.
National Grid 632p +18½ Questor says BUY
The returns investors can get from utility groups are regulated by the Government. Every five years the companies have to submit a plan that balances the needs of investment, customer bills and a return on capital invested in the business.
For National Grid, the next regulatory period starts in April 2013 and runs for eight years. The company has already submitted its plan to agree the price controls, which are attractively named RIIO-GD1.
The UK regulated business constitutes about 60pc of operating profit for National Grid.
This is the reason that the company has a one-year dividend policy. National Grid said it would raise its dividend by 4pc in the year to March 2013. The group's inflation expectations stand at about 3pc, so this represents real growth in the payment.
National Grid's dividend policy has been pretty generous. The group's previous policy was to increase the payout by 8pc a year until 2012. Obviously, there was likely to be some easing.
However, the new interim policy is encouraging because management is unlikely to declare an unsustainable one. If they did the shares would get hammered in 12 months' time when the new policy is announced, so they must be confident that real, above-inflation growth is achievable.
Underscoring this, Steve Holliday, chief executive, said yesterday: "Our dividend is an important part of our returns to shareholders."
The RIIO-GD1 submission seeks baseline total capital and operating investment of around £13.5bn over eight years, including £5.4bn of replacement expenditure. If the business plans were adopted in full, the net impact for customers would be an increase in real terms of £1 a year on a typical household bill. It is looking for a return on equity of 7.2pc, which is the figure investors should be interested in.
Away from regulatory issues, National Grid said the outlook for the current year to March was positive.
In the US, National Grid has recovered $240m (£152m) in deferred costs in New York approved last December.
City analysts have a mixed view on the announcement. Credit Suisse (NYSEArca: CSMA - news) , for example, argued yesterday that National Grid had "one of the best defensive growth profiles in the pan-European utilities sector. However, Investec (Frankfurt: A0J32R - news) said that, although the share price is factoring in a benign outcome for the UK price control reviews "we remain wary of what might develop as the reviews progress".
Questor downgraded the shares to a hold in October last year, when the shares were at 631½p. They have drifted since then and yesterday's rally has brought them back up to this level. Questor is reassured by the fact that the group plans real dividend growth in the current period and the yield is a very attractive 6.5pc in the next financial year.
Trading on a March 2013 earnings multiple of 11.6, the shares are once again a buy for income seekers, up from hold.
However, the regulatory review obviously provides a degree of risk.
..
By Garry White | Telegraph – 13 hours ago
......
Utilities (Santiago: UTILITIES.SN - news) shares are attractive for widows and orphans and yesterday's long-awaited dividend announcement from National Grid (LSE: NG.L - news) is what they wanted to hear.
National Grid 632p +18½ Questor says BUY
The returns investors can get from utility groups are regulated by the Government. Every five years the companies have to submit a plan that balances the needs of investment, customer bills and a return on capital invested in the business.
For National Grid, the next regulatory period starts in April 2013 and runs for eight years. The company has already submitted its plan to agree the price controls, which are attractively named RIIO-GD1.
The UK regulated business constitutes about 60pc of operating profit for National Grid.
This is the reason that the company has a one-year dividend policy. National Grid said it would raise its dividend by 4pc in the year to March 2013. The group's inflation expectations stand at about 3pc, so this represents real growth in the payment.
National Grid's dividend policy has been pretty generous. The group's previous policy was to increase the payout by 8pc a year until 2012. Obviously, there was likely to be some easing.
However, the new interim policy is encouraging because management is unlikely to declare an unsustainable one. If they did the shares would get hammered in 12 months' time when the new policy is announced, so they must be confident that real, above-inflation growth is achievable.
Underscoring this, Steve Holliday, chief executive, said yesterday: "Our dividend is an important part of our returns to shareholders."
The RIIO-GD1 submission seeks baseline total capital and operating investment of around £13.5bn over eight years, including £5.4bn of replacement expenditure. If the business plans were adopted in full, the net impact for customers would be an increase in real terms of £1 a year on a typical household bill. It is looking for a return on equity of 7.2pc, which is the figure investors should be interested in.
Away from regulatory issues, National Grid said the outlook for the current year to March was positive.
In the US, National Grid has recovered $240m (£152m) in deferred costs in New York approved last December.
City analysts have a mixed view on the announcement. Credit Suisse (NYSEArca: CSMA - news) , for example, argued yesterday that National Grid had "one of the best defensive growth profiles in the pan-European utilities sector. However, Investec (Frankfurt: A0J32R - news) said that, although the share price is factoring in a benign outcome for the UK price control reviews "we remain wary of what might develop as the reviews progress".
Questor downgraded the shares to a hold in October last year, when the shares were at 631½p. They have drifted since then and yesterday's rally has brought them back up to this level. Questor is reassured by the fact that the group plans real dividend growth in the current period and the yield is a very attractive 6.5pc in the next financial year.
Trading on a March 2013 earnings multiple of 11.6, the shares are once again a buy for income seekers, up from hold.
However, the regulatory review obviously provides a degree of risk.
..
skinny
- 03 Feb 2012 11:00
- 135 of 224
Exane BNP Paribas reiterates Outperform TP 750.00.
Espirito Santo Execution Noble reiterates Neutra TP 629.00.
Espirito Santo Execution Noble reiterates Neutra TP 629.00.
skinny
- 08 Feb 2012 15:30
- 136 of 224
653.50 12 month high.
skinny
- 10 Feb 2012 09:03
- 137 of 224
JP Morgan Cazenove Downgrades to Neutral but UPS its target price from 625.00 to 645.00 !!!
skinny
- 06 Mar 2012 09:43
- 138 of 224
Quietly making new 12 months highs today.
;MA(50)&IND=VOLMA(60);MTM(6,6);MACD(26,12,9);RSI(14)&Layout=2Line;Default;Price;HisDate&XCycle=&XFormat=)
skinny
- 17 Apr 2012 17:32
- 139 of 224
UK may lose 6 percent of summer gas due to North Sea leak
(Reuters) - Britain could be facing as much as a 6 percent cut to gas supplies this summer due to the closure of three large fields following a leak found beneath Total's Elgin platform, National Grid said on Tuesday.
(Reuters) - Britain could be facing as much as a 6 percent cut to gas supplies this summer due to the closure of three large fields following a leak found beneath Total's Elgin platform, National Grid said on Tuesday.
halifax - 17 Apr 2012 20:19 - 140 of 224
skin lets hope for a hot summer.
skinny
- 24 Apr 2012 12:03
- 141 of 224
Quietly hitting new 12+ month highs today.
HARRYCAT
- 24 Apr 2012 12:09
- 142 of 224
.
skinny
- 24 Apr 2012 12:46
- 143 of 224
Morgan Stanley Ugrades to Overweight TP raised from 585p to 725p
skinny
- 24 Apr 2012 15:49
- 144 of 224
Above pre-rights issue level.
Lord Gnome
- 24 Apr 2012 17:37
- 145 of 224
Very nice steady long term uptrend now firmly in place from the 2010 low point.
skinny
- 30 Apr 2012 16:08
- 146 of 224
skinny
- 08 May 2012 08:17
- 147 of 224
Post rights issue high hit today - 675p.
skinny
- 11 May 2012 15:13
- 148 of 224
New high today - 681.5p 682.5p 683p . 684p
skinny
- 17 May 2012 07:02
- 149 of 224
Results for the year ended 31 March 2012
Good performance in 2011/12
· Profit before tax1 up 5%
· Operating profit1 up 9% before currency movements, timing and major US storms2
· Continued UK outperformance
· Improved US returns - 2011 regulated return on equity up 50bp to 8.8%
· Earnings per share1 up 1% to 51.3p, up 16% excluding timing and major storm impacts
· Recommended full year dividend up 8% to 39.28p reflecting final year of current policy
Good strategic progress
· £3.4bn of capital investment, contributing to £1.6bn growth in regulated assets
· Submitted new 8 year UK investment plans, including over £31bn of forecast capital investment
· Agreed one year rollover price control for UK transmission activities
· Implemented new US operating model. $200m run rate cost reduction target achieved
· Submitted new rate filings in upstate New York and Rhode Island in April 2012
· Balance sheet benefitted from strong cash generation and small asset disposals. As a result, net debt up only £0.9bn to £19.6bn
Positive outlook for 2012/13
· Sustain focus on improving returns and securing appropriate regulatory outcomes
· Dividend growth of 4% targeted in new one year policy
Good performance in 2011/12
· Profit before tax1 up 5%
· Operating profit1 up 9% before currency movements, timing and major US storms2
· Continued UK outperformance
· Improved US returns - 2011 regulated return on equity up 50bp to 8.8%
· Earnings per share1 up 1% to 51.3p, up 16% excluding timing and major storm impacts
· Recommended full year dividend up 8% to 39.28p reflecting final year of current policy
Good strategic progress
· £3.4bn of capital investment, contributing to £1.6bn growth in regulated assets
· Submitted new 8 year UK investment plans, including over £31bn of forecast capital investment
· Agreed one year rollover price control for UK transmission activities
· Implemented new US operating model. $200m run rate cost reduction target achieved
· Submitted new rate filings in upstate New York and Rhode Island in April 2012
· Balance sheet benefitted from strong cash generation and small asset disposals. As a result, net debt up only £0.9bn to £19.6bn
Positive outlook for 2012/13
· Sustain focus on improving returns and securing appropriate regulatory outcomes
· Dividend growth of 4% targeted in new one year policy
HARRYCAT
- 24 May 2012 08:45
- 150 of 224
Ex-divi next wed (30th May) 25.35p
skinny
- 08 Jun 2012 15:41
- 151 of 224
Credit Suisse Reiterates it's Outperform Tp raised from 700 to 730p.
skinny
- 04 Jul 2012 08:43
- 152 of 224
4 July 2012
National Grid plc
National Grid Completes Sale of New Hampshire Distribution Companies
National Grid today confirms that on 3 July 2012 it completed the sale of its New Hampshire electric and gas distribution businesses (Granite State Electric Company and Energy North Natural Gas Inc.) to Liberty Energy Utilities (New Hampshire) Corp., a subsidiary of Algonquin Power & Utilities Corp. The gross proceeds from the transaction totalled $309m, including working capital of $24m and will be used for general funding purposes.
National Grid plc
National Grid Completes Sale of New Hampshire Distribution Companies
National Grid today confirms that on 3 July 2012 it completed the sale of its New Hampshire electric and gas distribution businesses (Granite State Electric Company and Energy North Natural Gas Inc.) to Liberty Energy Utilities (New Hampshire) Corp., a subsidiary of Algonquin Power & Utilities Corp. The gross proceeds from the transaction totalled $309m, including working capital of $24m and will be used for general funding purposes.
skinny
- 06 Jul 2012 12:57
- 153 of 224
12 month high (689.50p) within reach.
Stan
- 06 Jul 2012 17:51
- 154 of 224
Ex. divi SP. reached in only just over 5 weeks, not bad at all.
skinny
- 11 Jul 2012 12:02
- 155 of 224
New high today (690.50p).
skinny
- 13 Jul 2012 11:56
- 156 of 224
And again 692.50p.
Lord Gnome
- 13 Jul 2012 21:07
- 157 of 224
Closing in on £7.00. Could be a good level for a trading sell? August divi already in the bag and the next ex-div is still almost five months away.
skinny
- 14 Jul 2012 10:38
- 158 of 224
I'm of a similar mind and will be putting limit sell orders in on NG,VOD,CNA and BT.
Off topic - I see NWS is going well again.
Off topic - I see NWS is going well again.
skinny
- 16 Jul 2012 07:13
- 159 of 224
Press Release
OFGEM CONSULTS ON £22 BILLION INVESTMENT PLANS TO UPGRADE BRITAIN'S GAS AND HIGH VOLTAGE ELECTRICITY NETWORKS
· Around £22 billion allocated to upgrade and renew Britain's gas and high voltage electricity networks. This will ensure that Britain's networks remain among the most reliable in the world
· Investment is integral to secure Britain's future energy supplies and is part of the £200 billion identified as part of Ofgem's Project Discovery regarding security of supply
· Ofgem's close scrutiny of companies' plans secures project investment and ensures value for consumers
OFGEM CONSULTS ON £22 BILLION INVESTMENT PLANS TO UPGRADE BRITAIN'S GAS AND HIGH VOLTAGE ELECTRICITY NETWORKS
· Around £22 billion allocated to upgrade and renew Britain's gas and high voltage electricity networks. This will ensure that Britain's networks remain among the most reliable in the world
· Investment is integral to secure Britain's future energy supplies and is part of the £200 billion identified as part of Ofgem's Project Discovery regarding security of supply
· Ofgem's close scrutiny of companies' plans secures project investment and ensures value for consumers
Lord Gnome
- 16 Jul 2012 19:58
- 160 of 224
What's your view skinney? Are we going to get our £7 or do we sell now expecting to buy back a bit lower down?
dreamcatcher
- 16 Jul 2012 20:04
- 161 of 224
..National Grid must 'sing for its supper' says Ofgem, as it cuts spending plans by £5bn
By Emily Gosden | Telegraph – 18 minutes ag
NG.L 682.50 -10.50
......
A row has broken out between National Grid (LSE: NG.L - news) and Ofgem over plans to transform the UK’s electricity and gas networks, after the energy regulator disallowed £5bn of proposed spending.
National Grid accused Ofgem of failing to “appropriately incentivise the essential investments necessary to provide safe, reliable networks for the UK consumer”.
But a defiant Ofgem chief executive, Alistair Buchanan, said National Grid must “sing for its supper”, criticising it for not “doing its homework properly” on the plans.
National Grid had argued for total expenditure of £33.5bn — in 2009-10 prices — over the eight years from 2013.
But Ofgem said the company could only spend up to £28.9bn, insisting parts of the proposals were unnecessary and others must be delivered more efficiently. It set the cost of equity below the level National Grid had requested.
Even to pay for Ofgem’s cut-down expenditure proposals for National Grid, and other regional gas distribution companies, average annual household bills will still rise by £7 next year and £15 by 2021.
The cuts Ofgem imposed included slashing National Grid’s proposed spending on moving electricity cables underground, from £1.1bn to £100m, as its analysis of what consumers were willing to pay was “not good enough”.
A £813m request for 20 new compressors to direct the flow of gas in its network was cut to £120m after the Environment Agency told Ofgem the supposed level of need was “nonsense”, Mr Buchanan said.
Ofgem will dock National Grid Gas £900,000 a year as penalty for shortcomings in its plans.
Some £5bn worth of proposals would only be approved if National Grid proved they were necessary in due course.
If National Grid has been “honest” in its plans, then Ofgem was unlikely to change its proposals before they are finalised in December, Mr Buchanan said.
“If they don’t like what we give them [then], they should go to the Competition Commission,” he said. But if National Grid now provided new information that justified changes, it might be penalised for failing to disclose that sooner, he warned.
National Grid shares fell 10½ to 682½p as City analysts said the proposals from Ofgem were harsher than had been expected.
Analyst Angelos Anastasiou at Investec (Frankfurt: A0J32R - news) said: "While there is still much debate to be had ahead of the Final Proposals, we reiterate our view that National Grid will probably require a capital raise by about 2015, and that a dividend cut next year is also likely."
But analysts at Liberum Capital said they believed the reduction in capital expenditure meant National Grid "should be able to sustain [its] dividend", but that the reduction "knocks off value as every £1 invested is worth £1.15 and therefore... knocks off 20p/share from our [price target
By Emily Gosden | Telegraph – 18 minutes ag
NG.L 682.50 -10.50
......
A row has broken out between National Grid (LSE: NG.L - news) and Ofgem over plans to transform the UK’s electricity and gas networks, after the energy regulator disallowed £5bn of proposed spending.
National Grid accused Ofgem of failing to “appropriately incentivise the essential investments necessary to provide safe, reliable networks for the UK consumer”.
But a defiant Ofgem chief executive, Alistair Buchanan, said National Grid must “sing for its supper”, criticising it for not “doing its homework properly” on the plans.
National Grid had argued for total expenditure of £33.5bn — in 2009-10 prices — over the eight years from 2013.
But Ofgem said the company could only spend up to £28.9bn, insisting parts of the proposals were unnecessary and others must be delivered more efficiently. It set the cost of equity below the level National Grid had requested.
Even to pay for Ofgem’s cut-down expenditure proposals for National Grid, and other regional gas distribution companies, average annual household bills will still rise by £7 next year and £15 by 2021.
The cuts Ofgem imposed included slashing National Grid’s proposed spending on moving electricity cables underground, from £1.1bn to £100m, as its analysis of what consumers were willing to pay was “not good enough”.
A £813m request for 20 new compressors to direct the flow of gas in its network was cut to £120m after the Environment Agency told Ofgem the supposed level of need was “nonsense”, Mr Buchanan said.
Ofgem will dock National Grid Gas £900,000 a year as penalty for shortcomings in its plans.
Some £5bn worth of proposals would only be approved if National Grid proved they were necessary in due course.
If National Grid has been “honest” in its plans, then Ofgem was unlikely to change its proposals before they are finalised in December, Mr Buchanan said.
“If they don’t like what we give them [then], they should go to the Competition Commission,” he said. But if National Grid now provided new information that justified changes, it might be penalised for failing to disclose that sooner, he warned.
National Grid shares fell 10½ to 682½p as City analysts said the proposals from Ofgem were harsher than had been expected.
Analyst Angelos Anastasiou at Investec (Frankfurt: A0J32R - news) said: "While there is still much debate to be had ahead of the Final Proposals, we reiterate our view that National Grid will probably require a capital raise by about 2015, and that a dividend cut next year is also likely."
But analysts at Liberum Capital said they believed the reduction in capital expenditure meant National Grid "should be able to sustain [its] dividend", but that the reduction "knocks off value as every £1 invested is worth £1.15 and therefore... knocks off 20p/share from our [price target
skinny
- 16 Jul 2012 20:54
- 162 of 224
Obviously I wish I'd sold on Friday :-)
I will probably hold for now and see how the news is digested.
BTW - I prefer this take Nomura remains a buyer of National Grid
I will probably hold for now and see how the news is digested.
BTW - I prefer this take Nomura remains a buyer of National Grid
skinny
- 17 Jul 2012 07:24
- 163 of 224
Morgan Stanley reiterates its Overweight stance TP reduced from 740p to 730p.
HARRYCAT
- 17 Jul 2012 08:30
- 164 of 224
Stan
- 17 Jul 2012 08:47
- 165 of 224
Looked at these but think that SVT are a better risk in this type of sector i.e. defensive at the moment.
skinny
- 19 Jul 2012 08:18
- 166 of 224
HSBC Upgrades to Overweight TP raised from 740.00 to 770.00
skinny
- 26 Jul 2012 09:57
- 167 of 224
Nicely off the 200 ma.
skinny
- 30 Jul 2012 07:49
- 168 of 224
skinny
- 08 Aug 2012 12:43
- 169 of 224
Liberum Capital Upgrades Buy Old Tp 685.00 new Tp 730.00
BAYLIS
- 08 Aug 2012 20:15
- 170 of 224
Thankyou "skinny" for all your help.
skinny
- 09 Aug 2012 08:10
- 171 of 224
You're welcome Baylis - I just post news/charts on shares that I follow/hold.
skinny
- 14 Aug 2012 08:04
- 172 of 224
New 2year+ highs this morning.
skinny
- 14 Aug 2012 11:25
- 173 of 224
£7.
skinny
- 10 Sep 2012 09:35
- 174 of 224
HSBC upgrades to Overweight Tp increased from 770p to 790p.
skinny
- 27 Sep 2012 08:26
- 175 of 224
Sparks fly again on National Grid amid takeover rumours
The powers that be in the City are adamant that there is a multi-billion-pound takeover bid being hatched in the utilities sector. Corporate financiers have apparently been busy burning the midnight oil for weeks in order to bring the deal to light before the end of the month.
All fingers yesterday were again pointed at National Grid. Shares of the operator of most of England’s energy pylons and pipelines touched 693p amid growing speculation that GE Capital, the financial services unit of US giant General Electric, and its advisors are working on a cash offer well north of £9 a share. The close was 2p easier at 691.5p.
The word is GE Capital wants to get its hands on National Grid’s American activities and would be a seller of its UK operations.
The powers that be in the City are adamant that there is a multi-billion-pound takeover bid being hatched in the utilities sector. Corporate financiers have apparently been busy burning the midnight oil for weeks in order to bring the deal to light before the end of the month.
All fingers yesterday were again pointed at National Grid. Shares of the operator of most of England’s energy pylons and pipelines touched 693p amid growing speculation that GE Capital, the financial services unit of US giant General Electric, and its advisors are working on a cash offer well north of £9 a share. The close was 2p easier at 691.5p.
The word is GE Capital wants to get its hands on National Grid’s American activities and would be a seller of its UK operations.
Stan
- 27 Sep 2012 08:37
- 176 of 224
I did have a nibble in the end and have taken my profit today, Sell on the rumour.
Stan
- 01 Oct 2012 12:49
- 177 of 224
Back in on Fri. and up already, nice little trading range developing here?
skinny
- 01 Oct 2012 13:27
- 178 of 224
National Grid plc
Initial Proposals: consultation response
Today, National Grid has published its detailed responses to Ofgem's initial proposals for the UK electricity and gas transmission (RIIO-T1) and UK gas distribution (RIIO-GD1) network price controls.
The initial proposals are the first time that National Grid has had an opportunity to test Ofgem's evidence and analysis and as a result the responses are extensive and thorough. As previously stated, National Grid believes that the initial proposals as they stand give rise to a number of important issues which need to be resolved over the coming months to ensure a fair balance of risk and reward for investors and customers. National Grid is committed to working with Ofgem to deliver an affordable deal for consumers which will allow these networks to finance around £25bn of essential UK infrastructure investment.
Initial Proposals: consultation response
Today, National Grid has published its detailed responses to Ofgem's initial proposals for the UK electricity and gas transmission (RIIO-T1) and UK gas distribution (RIIO-GD1) network price controls.
The initial proposals are the first time that National Grid has had an opportunity to test Ofgem's evidence and analysis and as a result the responses are extensive and thorough. As previously stated, National Grid believes that the initial proposals as they stand give rise to a number of important issues which need to be resolved over the coming months to ensure a fair balance of risk and reward for investors and customers. National Grid is committed to working with Ofgem to deliver an affordable deal for consumers which will allow these networks to finance around £25bn of essential UK infrastructure investment.
Stan
- 01 Oct 2012 15:19
- 179 of 224
Out again.
skinny
- 01 Oct 2012 15:47
- 180 of 224
Light weight! :-)
skinny
- 02 Oct 2012 08:44
- 181 of 224
12 month high of 706 could be vulnerable today.
Stan
- 02 Oct 2012 08:54
- 182 of 224
.. Well if it does us lightweights won't be very pleased -):
Lord Gnome
- 03 Oct 2012 19:16
- 183 of 224
Time for a new thread. I'll start one with a chart in the header.
skinny
- 19 Oct 2012 09:49
- 184 of 224
New 12 month high 706.5 707.5p just touched.
skinny
- 23 Oct 2012 08:26
- 185 of 224
3+ year high this morning @710.
;MA(50);MA(200)&IND=RSI(14);MTM(6,6)&Layout=2Line;Default;Price;HisDate&XCycle=&XFormat=)
skinny
- 30 Oct 2012 16:19
- 186 of 224
SHORT LIST FOR UK’S £1BN CCS COMPETITION ANNOUNCED
The four short listed bids, all full chain capture, transport and storage projects, are in alphabetical order:
Captain Clean Energy Project: A proposal for a new 570MW, fully abated coal Integrated Gasification Combined Cycle (pre-combustion) project in Grangemouth, Scotland with storage in offshore depleted gas fields. Led by Summit Power, involving Petrofac (CO2 Deepstore), National Grid and Siemens.
Peterhead: A 340MW Post-combustion capture retrofitted to part of an existing 1180MW Combined Cycle Gas Turbine power station at Peterhead, Scotland. Led by Shell and SSE.
Teesside Low Carbon Project: A Pre-combustion coal gasification project (linked to c330MWe net power generating capacity fuelled by syngas with 90% of CO2 abated) on Teesside, North East England with storage in depleted oil field and saline aquifer. A consortium led by Progressive Energy and involving GDF SUEZ, Premier Oil, and BOC.
White Rose Project: An Oxyfuel capture project at a proposed new 304MW fully abated supercritical coal-fired power station on the Drax site in North Yorkshire. Led by Alstom and involving Drax, BOC and National Grid.
Following further decisions in the new year the Government expects that projects will undertake engineering studies before final decisions to build. The precise timetable for this will be dependent on the projects selected.
The four short listed bids, all full chain capture, transport and storage projects, are in alphabetical order:
Captain Clean Energy Project: A proposal for a new 570MW, fully abated coal Integrated Gasification Combined Cycle (pre-combustion) project in Grangemouth, Scotland with storage in offshore depleted gas fields. Led by Summit Power, involving Petrofac (CO2 Deepstore), National Grid and Siemens.
Peterhead: A 340MW Post-combustion capture retrofitted to part of an existing 1180MW Combined Cycle Gas Turbine power station at Peterhead, Scotland. Led by Shell and SSE.
Teesside Low Carbon Project: A Pre-combustion coal gasification project (linked to c330MWe net power generating capacity fuelled by syngas with 90% of CO2 abated) on Teesside, North East England with storage in depleted oil field and saline aquifer. A consortium led by Progressive Energy and involving GDF SUEZ, Premier Oil, and BOC.
White Rose Project: An Oxyfuel capture project at a proposed new 304MW fully abated supercritical coal-fired power station on the Drax site in North Yorkshire. Led by Alstom and involving Drax, BOC and National Grid.
Following further decisions in the new year the Government expects that projects will undertake engineering studies before final decisions to build. The precise timetable for this will be dependent on the projects selected.
skinny
- 31 Oct 2012 09:30
- 187 of 224
Link copied from over the road - National Grid US
Tuesday, October 30th - 10:00PM:
We have already made significant progress restoring power to customers affected by Hurricane Sandys damaging winds and torrential rains. Full restoration began at daybreak today, in parallel with ongoing wires down activity, damage assessment and tree clearing. With the halloween festivities approaching, we want to remind customers to keep a careful watch out for trick or treaters and drive slowly. Please be sure to avoid flooded areas and always assume all downed wires are live. To report wires down and power outages call 1-800-465-1212 in Massachusetts and Rhode Island and 1-800-867-5222 in Upstate New York.
Tuesday, October 30th - 10:00PM:
We have already made significant progress restoring power to customers affected by Hurricane Sandys damaging winds and torrential rains. Full restoration began at daybreak today, in parallel with ongoing wires down activity, damage assessment and tree clearing. With the halloween festivities approaching, we want to remind customers to keep a careful watch out for trick or treaters and drive slowly. Please be sure to avoid flooded areas and always assume all downed wires are live. To report wires down and power outages call 1-800-465-1212 in Massachusetts and Rhode Island and 1-800-867-5222 in Upstate New York.
skinny
- 06 Nov 2012 08:55
- 188 of 224
New high this morning @714p
Half Year Results 15 th November Events Calendar
Ex dividend 28th November
Yield 5.54%
Half Year Results 15 th November Events Calendar
Ex dividend 28th November
Yield 5.54%
skinny
- 15 Nov 2012 07:02
- 189 of 224
Half Year results
Good performance in first 6 months of 2012/13
· Operating profit1 up 7% at constant currency2 excluding impact of timing and major storms3
· Profit before tax1 up 21%, up 15% excluding impact of timing and major storms
· Earnings per share1 up4 20% at 23.0p, up 14% excluding impact of timing and major storms
· Interim dividend increased by 4%, in line with policy
Progress againststrategic priorities
· Investment up 23% to £1.8bn; mostly in regulated UK and US operations
· Settlement processes for new rates filed in New York and Rhode Island progressing
· New power supply agreement concluded with the Long Island Power Authority (LIPA)
· UK regulation: RIIO process in final stages
Outlook and priorities unchanged
· Sustain focus on improving returns and securing appropriate regulatory outcomes
· Implement new UK operating model, aligning activities to deliver optimal outcomes under RIIO
· Restoration expenses following 'Superstorm' Sandy, outside LIPA, not expected to exceed £100m
Good performance in first 6 months of 2012/13
· Operating profit1 up 7% at constant currency2 excluding impact of timing and major storms3
· Profit before tax1 up 21%, up 15% excluding impact of timing and major storms
· Earnings per share1 up4 20% at 23.0p, up 14% excluding impact of timing and major storms
· Interim dividend increased by 4%, in line with policy
Progress againststrategic priorities
· Investment up 23% to £1.8bn; mostly in regulated UK and US operations
· Settlement processes for new rates filed in New York and Rhode Island progressing
· New power supply agreement concluded with the Long Island Power Authority (LIPA)
· UK regulation: RIIO process in final stages
Outlook and priorities unchanged
· Sustain focus on improving returns and securing appropriate regulatory outcomes
· Implement new UK operating model, aligning activities to deliver optimal outcomes under RIIO
· Restoration expenses following 'Superstorm' Sandy, outside LIPA, not expected to exceed £100m
Stan
- 16 Nov 2012 16:57
- 190 of 224
Blackrock lower their holding by the looks of things. SP hardly affected.
skinny
- 23 Nov 2012 11:30
- 191 of 224
Looking very positive - recent high touched again this morning (714p).
;MA(50);MA(200)&IND=RSI(14)&Layout=2Line;Default;Price;HisDate&XCycle=&XFormat=)
Stan
- 23 Nov 2012 16:25
- 192 of 224
Might need watching though with the Sandy liability and also a regulatory ruling on Dec 17th Skinny.
skinny
- 23 Nov 2012 16:30
- 193 of 224
I haven't really traded them since before the rights issue - they are one of my bigger SIPP yield holdings - so the upward movement is a bonus.
skinny
- 26 Nov 2012 09:18
- 194 of 224
New 12 month high this morning @716.50p.
skinny
- 27 Nov 2012 12:19
- 195 of 224
Ex dividend tomorrow (14.49p) - 719 touched earlier.
skinny
- 27 Nov 2012 14:41
- 196 of 224
Long Islanders get usual power bills despite Sandy blackout
November 27, 2012 -- Updated 1425 GMT (2225 HKT)
New York (CNN) -- The Long Island Power Authority is assuring outraged customers that their latest electric bills with normal monthly charges are no mistake, despite some being in the dark for days or weeks after Superstorm Sandy.
Customers are being billed are "based on the estimated reading of (their) energy use from the same month the year before," LIPA spokesperson Elizabeth Flagler said Monday.
November 27, 2012 -- Updated 1425 GMT (2225 HKT)
New York (CNN) -- The Long Island Power Authority is assuring outraged customers that their latest electric bills with normal monthly charges are no mistake, despite some being in the dark for days or weeks after Superstorm Sandy.
Customers are being billed are "based on the estimated reading of (their) energy use from the same month the year before," LIPA spokesperson Elizabeth Flagler said Monday.
skinny
- 29 Nov 2012 12:47
- 197 of 224
At the current price (706.5p) yesterday's ex dividend (14.49p) has been covered - 12 month high on Tuesday was 719p.
skinny
- 30 Nov 2012 07:36
- 198 of 224
Morgan Stanley Overweight 706.00 706.00 730.00 775.00 Reiterates
skinny
- 12 Dec 2012 14:13
- 199 of 224
New high today @719.50p
skinny
- 13 Dec 2012 08:15
- 200 of 224
New highs again this morning @722p.
Stan
- 13 Dec 2012 08:36
- 201 of 224
This has been an excellent divi play chaps, well done all,
skinny
- 13 Dec 2012 08:37
- 202 of 224
Stan - I've held these in one shape or form since before I had grey hair! :-)
Stan
- 13 Dec 2012 09:11
- 203 of 224
Probably one of the safest outfits in the index this one over the years.
skinny
- 17 Dec 2012 07:14
- 204 of 224
MAJOR INVESTMENT TO UPGRADE ENERGY NETWORKS
OFGEM ANNOUNCES MAJOR INVESTMENT TO UPGRADE BRITAIN'S GAS AND ELECTRICITY NETWORKS
· £24.2bn earmarked to upgrade and renew Britain's electricity and gas networks
· Ofgem cuts over £7bn from network companies' original spending plans to ensure value for money for consumers
· Ofgem continues to deliver a stable regulatory environment that successfully secures investment in Britain's vital infrastructure at a fair price to consumers
Receipt of Ofgem RIIO T1 & GD1 final proposals
National Grid notes receipt of Ofgem RIIO T1 & GD1 price control final proposals
Ofgem today published final proposals in respect of the RIIO-T1 and RIIO-GD1 price controls due to run for eight years to 31 March 2021. The draft licence amendments are expected to be published later this week, and Ofgem's final direction issued in late January or early February. After that direction is issued, parties may either respond within 20 working days or the licence amendments as directed, will come in to effect from 1 April 2013.
The final proposals cover all of National Grid's transmission and distribution owner and system operator businesses in the UK, with a regulated asset value in excess of £22bn and a significant proposed investment programme over the next eight years. As such the proposals are both lengthy and wide ranging and will take some time to review in detail before a final decision can be made about the overall acceptability of some or all of the plans.
As a result, as previously stated, we do not expect to be able to provide the market with a further update much before the deadline for communicating our final decision to Ofgem, which should be no later than early March 2013.
OFGEM ANNOUNCES MAJOR INVESTMENT TO UPGRADE BRITAIN'S GAS AND ELECTRICITY NETWORKS
· £24.2bn earmarked to upgrade and renew Britain's electricity and gas networks
· Ofgem cuts over £7bn from network companies' original spending plans to ensure value for money for consumers
· Ofgem continues to deliver a stable regulatory environment that successfully secures investment in Britain's vital infrastructure at a fair price to consumers
Receipt of Ofgem RIIO T1 & GD1 final proposals
National Grid notes receipt of Ofgem RIIO T1 & GD1 price control final proposals
Ofgem today published final proposals in respect of the RIIO-T1 and RIIO-GD1 price controls due to run for eight years to 31 March 2021. The draft licence amendments are expected to be published later this week, and Ofgem's final direction issued in late January or early February. After that direction is issued, parties may either respond within 20 working days or the licence amendments as directed, will come in to effect from 1 April 2013.
The final proposals cover all of National Grid's transmission and distribution owner and system operator businesses in the UK, with a regulated asset value in excess of £22bn and a significant proposed investment programme over the next eight years. As such the proposals are both lengthy and wide ranging and will take some time to review in detail before a final decision can be made about the overall acceptability of some or all of the plans.
As a result, as previously stated, we do not expect to be able to provide the market with a further update much before the deadline for communicating our final decision to Ofgem, which should be no later than early March 2013.
skinny
- 11 Jan 2013 13:58
- 205 of 224
Is it going to bounce this time ?
;MA(50);MA(200)&IND=RSI(14);MTM(6,6);VOLMA(60)&Layout=2Line;Default;Price;HisDate&XCycle=&XFormat=)
HARRYCAT
- 11 Jan 2013 14:36
- 206 of 224
Good spot, skinny. I'm in, ready for the bounce. Short'ish term punt for me, as divi is several months away yet and need to seek income & growth, but thanks for the prompt.
skinny
- 11 Jan 2013 14:39
- 207 of 224
Harry - one of my bigger SIPP holdings and as such, I get the dividend next Wednesday I believe, its whether to reinvest it at these levels.
HARRYCAT
- 11 Jan 2013 15:56
- 208 of 224
Already 6p in profit! How good is that!
skinny
- 11 Jan 2013 15:59
- 209 of 224
Must be our posting! :-)
Lord Gnome
- 11 Jan 2013 17:09
- 210 of 224
Yep - textbook bounce off the 200 day MA. Hopefully just a technical correction then. If the market suffers a setback and it's back to 'Risk Off' then these will be in demand again.
HARRYCAT
- 15 Jan 2013 15:39
- 211 of 224
Looks like we were correct on the bounce. Currently 695p. Watching closely now for an exit point.
skinny
- 17 Jan 2013 10:48
- 212 of 224
RNS Number : 7583V
National Grid PLC
17 January 2013
17 January 2013
National Grid plc
New York Public Service Commission publishes term sheet for National Grid's downstate gas utility KEDNY
The New York State Public Service Commission ("Commission") yesterday published a term sheet detailing a two year extension to the rate agreement for National Grid's downstate New York Gas business, KeySpan Energy Delivery New York (KEDNY).
In November 2012, KEDNY and the staff of the Commission entered into confidential discussions around the potential for extending and updating aspects of the five year rate agreement which ended on 31 December 2012. The notice of impending settlement negotiations was filed with the Commission in early December 2012.
As a result of these discussions, National Grid and the Department of Public Service Staff, filed a term sheet with the Commission. This sets out a summary of a proposed two year agreement for extending and modifying elements of the original KEDNY five year rate plan. The proposed settlement is not expected to materially impact customer bills or KEDNY's revenues over the period of the rate agreement.
The proposal includes a 9.4% return on equity in each of the two years 2013 and 2014, with a 48% equity structure in the business, which is financially equivalent to the terms of the original five year rate plan (9.8% return on equity and 45% equity structure). Under the proposed agreement, 80% of any earnings over 9.4% will be allocated to fund recovery of prior environmental deferrals with the remaining 20% being retained by KEDNY. The proposed agreement also includes an increase in capital expenditure allowances to $320.1 million in 2013 and $293.7 million in 2014 as compared to the original rate plan capital allowances of $155.4 million per year. The agreement also proposes updates to various customer service and other performance metrics. Under the proposed agreement, there is no impact on the delivery rates for customers.
Ken Daly, President, National Grid New York said "We are pleased to have reached a proposed agreement with the Department of Public Service Staff. The new proposal sets out a framework of increased investment, stable customer rates, and performance metrics to deliver high standards of customer service, safety and reliability. The proposal also provides a sharing mechanism that should allow the business to deliver appropriate returns, while continuing to provide excellent service to New York customers."
A Joint Proposal formalising the settlement is expected to be filed in February. The Commission is expected to issue an Order on the settlement proposal in the spring of 2013.
The Term Sheet setting forth the proposed settlement agreement is available on the Commission's website (www.dps.ny.gov).
CONTACTS
National Grid PLC
17 January 2013
17 January 2013
National Grid plc
New York Public Service Commission publishes term sheet for National Grid's downstate gas utility KEDNY
The New York State Public Service Commission ("Commission") yesterday published a term sheet detailing a two year extension to the rate agreement for National Grid's downstate New York Gas business, KeySpan Energy Delivery New York (KEDNY).
In November 2012, KEDNY and the staff of the Commission entered into confidential discussions around the potential for extending and updating aspects of the five year rate agreement which ended on 31 December 2012. The notice of impending settlement negotiations was filed with the Commission in early December 2012.
As a result of these discussions, National Grid and the Department of Public Service Staff, filed a term sheet with the Commission. This sets out a summary of a proposed two year agreement for extending and modifying elements of the original KEDNY five year rate plan. The proposed settlement is not expected to materially impact customer bills or KEDNY's revenues over the period of the rate agreement.
The proposal includes a 9.4% return on equity in each of the two years 2013 and 2014, with a 48% equity structure in the business, which is financially equivalent to the terms of the original five year rate plan (9.8% return on equity and 45% equity structure). Under the proposed agreement, 80% of any earnings over 9.4% will be allocated to fund recovery of prior environmental deferrals with the remaining 20% being retained by KEDNY. The proposed agreement also includes an increase in capital expenditure allowances to $320.1 million in 2013 and $293.7 million in 2014 as compared to the original rate plan capital allowances of $155.4 million per year. The agreement also proposes updates to various customer service and other performance metrics. Under the proposed agreement, there is no impact on the delivery rates for customers.
Ken Daly, President, National Grid New York said "We are pleased to have reached a proposed agreement with the Department of Public Service Staff. The new proposal sets out a framework of increased investment, stable customer rates, and performance metrics to deliver high standards of customer service, safety and reliability. The proposal also provides a sharing mechanism that should allow the business to deliver appropriate returns, while continuing to provide excellent service to New York customers."
A Joint Proposal formalising the settlement is expected to be filed in February. The Commission is expected to issue an Order on the settlement proposal in the spring of 2013.
The Term Sheet setting forth the proposed settlement agreement is available on the Commission's website (www.dps.ny.gov).
CONTACTS
skinny
- 17 Jan 2013 11:17
- 213 of 224
Off the 200ma again (for now).
HARRYCAT
- 21 Jan 2013 14:00
- 214 of 224
693p, still no cause to panic ............yet!
skinny
- 22 Jan 2013 08:12
- 215 of 224
Back above £7 this am.
AGM & IMS next Tuesday 29th.
AGM & IMS next Tuesday 29th.
HARRYCAT
- 22 Jan 2013 09:23
- 216 of 224
Broker upgrade apparently, but info not yet available.
EDIT: StockMarketWire.com
Exane BNP Paribas has upgraded its recommendation on National Grid (LON:NG.) to "outperform" from "underperform" as the company looks likely to accept the final price proposals announced by OFGEM before Christmas. The City broker has increased its share price target by 15 per cent to 780 pence with the shares currently changing hands at around the 695 pence mark. Broker Forecasts consensus data shows that the City analysts have mixed opinions over the stock as 48 per cent are maintaining a buy rating while 35 per cent are staying at sell. Analysts at Exane BNP Paribas said: "National Grid's stability, yield and possible upside from restructuring offer a more attractive combination than most of the large cap pan-European sector, where we see growing pressures on German power prices and hence on profitability and dividends. With the regulatory risk now behind us, we upgrade National Grid to Outperform (from Underperform) and raise our price target to 780 pence by rolling forward our RAB-based valuation to March 2014."
EDIT: StockMarketWire.com
Exane BNP Paribas has upgraded its recommendation on National Grid (LON:NG.) to "outperform" from "underperform" as the company looks likely to accept the final price proposals announced by OFGEM before Christmas. The City broker has increased its share price target by 15 per cent to 780 pence with the shares currently changing hands at around the 695 pence mark. Broker Forecasts consensus data shows that the City analysts have mixed opinions over the stock as 48 per cent are maintaining a buy rating while 35 per cent are staying at sell. Analysts at Exane BNP Paribas said: "National Grid's stability, yield and possible upside from restructuring offer a more attractive combination than most of the large cap pan-European sector, where we see growing pressures on German power prices and hence on profitability and dividends. With the regulatory risk now behind us, we upgrade National Grid to Outperform (from Underperform) and raise our price target to 780 pence by rolling forward our RAB-based valuation to March 2014."
HARRYCAT
- 25 Jan 2013 18:20
- 217 of 224
StockMarketWire.com
Liberum Capital has downgraded its recommendation on National Grid (LON:NG.) to "hold" from "buy" on valuation grounds liven the limited share price upside. The City broker has left its share price target unchanged at 730 pence. Exane BNP Paribas upgraded its recommendation on National Grid to "outperform" from "underperform" on 22 January 2013 viewing the stock far more favourably given the removal of regulatory uncertainty. In terms of the wider view held by the City, Broker Forecasts consensus data highlights that 43 per cent of brokers have a buy recommendation on National Grid with 35 per cent maintaining a sell rating. Analyst Guillaume Redgwell said: Following the RIIO Final Proposals in December, we are downgrading our National Grid recommendation to hold but maintaining our 730 pence price target. With the company response likely in February, we do not expect a Competition Commission referral. Whilst credit metrics will tighten in the middle of the decade, we believe that this is manageable. With little EPS [Earnings Per Share] growth over the RIIO regulatory period, and an implied annual total shareholder return of 9%, we view the valuation as undemanding yet unexciting."
Liberum Capital has downgraded its recommendation on National Grid (LON:NG.) to "hold" from "buy" on valuation grounds liven the limited share price upside. The City broker has left its share price target unchanged at 730 pence. Exane BNP Paribas upgraded its recommendation on National Grid to "outperform" from "underperform" on 22 January 2013 viewing the stock far more favourably given the removal of regulatory uncertainty. In terms of the wider view held by the City, Broker Forecasts consensus data highlights that 43 per cent of brokers have a buy recommendation on National Grid with 35 per cent maintaining a sell rating. Analyst Guillaume Redgwell said: Following the RIIO Final Proposals in December, we are downgrading our National Grid recommendation to hold but maintaining our 730 pence price target. With the company response likely in February, we do not expect a Competition Commission referral. Whilst credit metrics will tighten in the middle of the decade, we believe that this is manageable. With little EPS [Earnings Per Share] growth over the RIIO regulatory period, and an implied annual total shareholder return of 9%, we view the valuation as undemanding yet unexciting."
skinny
- 29 Jan 2013 07:18
- 218 of 224
Interim Management Service
HIGHLIGHTS
· Continued solid performance reflecting good financial delivery and sustained investment in attractive long-term growth assets
· Final RIIO-T1 and RIIO-GD1 proposals published by Ofgem in December 2012
· US regulatory filings proceeding well
o Rhode Island: Narragansett gas and electric rate cases approved
o New York: Niagara Mohawk joint proposals now submitted for final approval
o New York: KEDNY1joint settlement proposal agreed with Commission staff
OUTLOOK
Publication of Ofgem's final proposals for our UK transmission and distribution activities in December 2012 provided additional clarity, in particular around the essential investments we are likely to be making over the next eight years in UK infrastructure. We are in the latter stages of our work to determine the acceptability or otherwise of the RIIO proposals and evaluate the long term outlook of the Group as a whole, ahead of announcing a new dividend policy for the period from April 2013. As previously stated, we expect to announce this new policy by the time of our full year results in May 2013.
Overall, we reconfirm our positive outlook for 2012/13 - we are well positioned to deliver another year of good operating and financial performance.
HIGHLIGHTS
· Continued solid performance reflecting good financial delivery and sustained investment in attractive long-term growth assets
· Final RIIO-T1 and RIIO-GD1 proposals published by Ofgem in December 2012
· US regulatory filings proceeding well
o Rhode Island: Narragansett gas and electric rate cases approved
o New York: Niagara Mohawk joint proposals now submitted for final approval
o New York: KEDNY1joint settlement proposal agreed with Commission staff
OUTLOOK
Publication of Ofgem's final proposals for our UK transmission and distribution activities in December 2012 provided additional clarity, in particular around the essential investments we are likely to be making over the next eight years in UK infrastructure. We are in the latter stages of our work to determine the acceptability or otherwise of the RIIO proposals and evaluate the long term outlook of the Group as a whole, ahead of announcing a new dividend policy for the period from April 2013. As previously stated, we expect to announce this new policy by the time of our full year results in May 2013.
Overall, we reconfirm our positive outlook for 2012/13 - we are well positioned to deliver another year of good operating and financial performance.
skinny
- 18 Feb 2013 14:21
- 219 of 224
Morgan Stanley Overweight 691.25 682.00 775.00 775.00 Reiterates
skinny
- 27 Feb 2013 16:24
- 220 of 224
12 month high just matched @722p
skinny
- 28 Feb 2013 09:03
- 221 of 224
National Grid agrees RIIO price controls
National Grid has agreed all of the UK RIIO price control arrangements proposed by Ofgem. The Board of National Grid believes that the combination of revenue allowances and incentive mechanisms provides a good opportunity to earn appropriate returns for investors while delivering essential infrastructure investment for the benefit of consumers and the UK economy.
The RIIO-T1 and RIIO-GD1 price controls cover all of National Grid's transmission and distribution owner and system operator businesses in the UK, with a current regulated asset value in excess of £22bn. Ofgem's latest forecast predicts this asset value will grow by around 80% over the eight years of the price control, which will run from 1 April 2013.
As previously stated, the Company is in the latter stages of work to evaluate the long term outlook of the Group as a whole, ahead of announcing a new dividend policy for the period starting from 1 April 2013. We expect to announce this new policy by, at the latest, the time of our full year results in May 2013.
Steve Holliday, Chief Executive, said:
"I am pleased to confirm agreement of the RIIO price controls for our UK businesses. This is the culmination of a new process that started over three years ago, and represents another opportunity for National Grid to deliver further shareholder value.
These arrangements give our UK businesses their longest ever period of regulatory clarity. This enables us to focus on driving efficiency across our operations while building the infrastructure that the country needs and at the same time realise the benefits of excellent performance for both customers and investors."
National Grid has agreed all of the UK RIIO price control arrangements proposed by Ofgem. The Board of National Grid believes that the combination of revenue allowances and incentive mechanisms provides a good opportunity to earn appropriate returns for investors while delivering essential infrastructure investment for the benefit of consumers and the UK economy.
The RIIO-T1 and RIIO-GD1 price controls cover all of National Grid's transmission and distribution owner and system operator businesses in the UK, with a current regulated asset value in excess of £22bn. Ofgem's latest forecast predicts this asset value will grow by around 80% over the eight years of the price control, which will run from 1 April 2013.
As previously stated, the Company is in the latter stages of work to evaluate the long term outlook of the Group as a whole, ahead of announcing a new dividend policy for the period starting from 1 April 2013. We expect to announce this new policy by, at the latest, the time of our full year results in May 2013.
Steve Holliday, Chief Executive, said:
"I am pleased to confirm agreement of the RIIO price controls for our UK businesses. This is the culmination of a new process that started over three years ago, and represents another opportunity for National Grid to deliver further shareholder value.
These arrangements give our UK businesses their longest ever period of regulatory clarity. This enables us to focus on driving efficiency across our operations while building the infrastructure that the country needs and at the same time realise the benefits of excellent performance for both customers and investors."
Stan
- 28 Feb 2013 10:14
- 222 of 224
License to print money alert then? Well done all -):
skinny
- 05 Mar 2013 08:10
- 223 of 224
New high this morning.
skinny
- 08 Mar 2013 08:48
- 224 of 224
New high this morning @738.50p
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