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?

New 12 month high this morning @716.50p.

Ex dividend tomorrow (14.49p) - 719 touched earlier.

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.

At the current price (706.5p) yesterday's ex dividend (14.49p) has been covered - 12 month high on Tuesday was 719p.

Morgan Stanley Overweight 706.00 706.00 730.00 775.00 Reiterates

New high today @719.50p

New highs again this morning @722p.

This has been an excellent divi play chaps, well done all,

Stan - I've held these in one shape or form since before I had grey hair! :-)

Probably one of the safest outfits in the index this one over the years.

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.

Is it going to bounce this time ?

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.

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.

Already 6p in profit! How good is that!

Must be our posting! :-)

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.

Looks like we were correct on the bounce. Currently 695p. Watching closely now for an exit point.

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

Off the 200ma again (for now).