Here it is, your all new National Grid thread. The chart features Bollinger Bands, MACD, 50 and 200 day SMAs.

Web Site Link:

http://www.nationalgrid.com/uk


Here's the link to the old NG. thread

I've just sold some of my long term holding @745p.

There may be more to come short term, but its time to take some profits.

I've thought about it Skinny, but every time I thought about it I held on and the price went up still further. I'll carry on thinking (could be a good name for a film that).

I've held these for years and they have obviously been (and still are) an excellent holding - but I've felt it was time to reduce for a while, as they were @10% of my SIPP.

I plan to either buy back before the next dividend or buy another big gun - maybe HSBA - ex dividend next week.

Good luck and carry on thinking!

Approval of upstate New York rate case settlement

At an open session meeting conducted on 14 March 2013, the New York Public Service Commission (the "Commission") approved rate case settlements for National Grid's Niagara Mohawk electric and gas utility businesses. A written order is expected to be issued by the Commission shortly.

The new rate plans, as approved, reflect the Joint Proposal settlement filed with the Commission in December. They include a three year rate period, a 9.3% allowed return on equity, a 48% equity portion in the assumed capital structure and increased operating cost allowances compared to the current rate plans. The new rate plans provide for a cumulative delivery rate revenue increase of $123 million for electric operations and $9 million for gas operations by the third year of the rate period. The plans include a three year capital expenditure programme of approximately $1.6 billion. They also provide for various trackers for items including pension, property tax and commodity bad debt costs. The new rates are expected to become effective on 1 April 2013.

Ken Daly, National Grid President for New York said

"I am pleased that the rate impacts of the plan will result in customers seeing a reduction in their delivery bills in the first year of the proposal. The rate plans allow the Company to continue to invest in infrastructure upgrades and new electric and gas assets to cost effectively operate and maintain a safe and reliable electric and gas distribution system in upstate New York. The agreement provides adequate revenue to support National Grid's operations to achieve the public interest benefits identified by the Commission and other stakeholders."

Looks like a very timely trading sell Skinny. They've taken a bit of a whack today. I can't see anything in that announcement to scare the horses. Perhaps they've just run out of steam after a good rise.

All of the utilities seem to be down by a similar %age.

JP Morgan Cazenove Neutral 740.25 734.00 640.00 720.00 Upgrades

Bank of America Merrill Lynch Buy 740.25 734.00 - 735.00 Retains

New Dividend Policy and Trading Update

The Board of National Grid has agreed a new dividend policy to apply from 1st April 2013. The new policy will aim to grow the ordinary dividend at least in line with the rate of RPI inflation each year for the foreseeable future.

In deciding on the new dividend policy, the Board of National Grid considered a number of important factors to stress test the sustainability of the targeted growth rate and the support for strong credit ratings. These included regulatory outcomes in the UK and the US, expectations of delivery under incentive based regimes and sensitivities related to general economic conditions, government policy and other fiscal measures.

Trading update

2012/13 is finishing well, with earnings forecast to be modestly ahead of National Grid's previous expectations. In comparison to previous guidance, a strong UK Transmission business performance and lower net finance costs, now expected to be in line with last year despite increased net debt, should be broadly offset by additional expenses related to February's US storm restoration work and continued system implementation costs. Earnings are expected to further benefit from a lower effective tax rate, in part as a result of a change in profit mix.

National Grid's full year results will be published on 16 May 2013.

New highs again this morning @770 atm.

Delighted still to be holding these and enjoying the recent run. I have thought on several occasions that I should make a trading sell. How much further before we hit top?

Ho Hum.

Societe Generale Sell 765.00 765.00 634.00 674.00 Retains

HSBC Overweight 765.00 765.00 850.00 850.00 Reiterates

JP Morgan Cazenove Neutral 765.00 765.00 720.00 - Reiterates

New highs again.

Five year closing high today. These are better than a gilt. I reckon the yield will be bought down to 5%. First stop 800.

New high again today @793.50p

£8 touched.

£8.75 a good Target

New high @£8.03.

And back down again. Third time lucky?

816.50p touched.

824.50p. . 826P