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

StockMarketWire.com
National Grid said it was "very disappointed" by the UK energy regulator Ofgem's costing and pricing model for the Hinkley-Seabank transmission project.

The project is intended to allow for the safe connection of the planned Hinkley Point C nuclear power station to the grid.

"National Grid is very disappointed with the proxy competition proposal, which includes financial parameters proposed for the delivery of this complex and major infrastructure project," the company said.

"We have prepared for a number of financial scenarios, however we do not believe that the proposed ranges for cost-of-debt and cost-of-equity included in the consultation reflect either the actual cost of financing this project or the risk being taken for construction of this complex project."

"We also believe that Ofgem has significantly overestimated the potential consumer savings in their consultation."

National Grid said it intended to work constructively with Ofgem in the coming weeks and would submit its views to progress towards achieving "a fair and timely outcome for customers and investors".

However, the company said it would consider "all other options available to us if we are not able to progress this satisfactorily".

The HSB project was expected to have a total cost of around £650m, with the majority forecast spend by National Grid Electricity Transmission plc in the RIIO-T2 price control period from April 2021 onwards.

National Grid plc provides update on impact of US Tax Reform


National Grid provides an update on the expected impact of the US Tax Cuts and Jobs Act on the Group.

Overall, the US tax reform changes are significantly positive for our US customers and economically neutral for National Grid.

National Grid anticipates that there will be a non-cash tax credit of around $2 billion due to the revaluation of certain deferred tax balances. This credit will be reflected as an exceptional item and is expected to be returned to customers over a period of 20 to 30 years. There will be no other material impact on the results for the financial year ending 31 March 2018.

The full implications of the new legislation on earnings and cash flows are still being reviewed, and will depend on the outcome of discussions with regulators for each of our 14 regulated entities in the US. To date, this has been reflected in our Joint Proposal for Niagara Mohawk Electric and Gas, and our ongoing Massachusetts Gas and Rhode Island rate filings, which together represented 48% of the US rate base at 31 March 2017. The total annualised revenue increase for these companies is estimated to reduce by $130 million and will come into effect as these changes are adopted in new rates in FY19. The reduction in revenue will be offset by a corresponding reduction in the tax charge.

National Grid does not expect a material impact on the year ending 31 March 2019, but we expect to provide more detailed guidance at the full year results.

J. Murphy & Sons buys Carillion's UK power business

"It will take over Carillion’s position on National Grid’s (NG.L) overhead electricity lines, substation and underground cable framework contracts and Carillion employees will join Murphy, the company said."

Ofgem's RIIO-2 Framework Consultation

Ofgem today published their RIIO-2 Framework consultation document, in which they set out their proposed approach to the next gas and electricity transmission price control (RIIO-T2).

We note the wide range of options the consultation document contains and acknowledge the focus on long-term thinking for critical infrastructure, incentive outperformance opportunities for well-run companies and the continuing alignment of consumer and shareholder interests under the RIIO framework.

The RIIO-2 framework consultation document is another important step in the process leading to a new price control in April 2021. We will continue to work constructively with Ofgem over the next three years to achieve the best outcomes for all stakeholders. We will keep the market updated as the process moves forward.

National Grid Pre-Close Update to 2017/18 Technical Guidance
National Grid updates its 2017/18 technical guidance ahead of entering close period on 17 April 2018.

Underlying Group EBIT is expected to be in line with original guidance. Headline Group EBIT is expected to be lower due to the impact of major storms in on our US businesses. This is largely offset at the earnings level by benefits to finance costs and a lower effective tax rate.

US Storms
Our US businesses incurred major storm remediation costs of approximately £140 million, approximately 3p on Earnings Per Share (EPS). These costs are expected to be recovered in future periods and will be reported as timing in our full-year results in May.

Financing and tax
Finance costs are expected to benefit from gains of approximately £60m or 1.5p at the EPS level relating to the realisation of gains on investments in our insurance captive. The Group's tax charge is now expected to be approximately 24% (down from the previous expectation of around 27%), in part due to changes in profit mix and the lower US corporate tax rate following changes to US tax law.

Other timing impacts
Headline full-year results are expected to include US in-year timing over recoveries (before major storm costs) of approximately £135 million. This is expected to be partially offset by a UK in-year under recovery of approximately £30m. The net benefit to headline Group EPS attributable to timing is estimated to be 2p.

National Grid will publish its preliminary results for 2017/18 on Thursday 17 May 2018.

Agreement for the potential sale of remaining 25% interest in Cadent Gas

Citigroup today reaffirms its buy investment rating on National Grid PLC (LON:NG.) and cut its price target to 966p (from 1008p).

Credit Suisse comment today:
"We still see a small risk NG cuts the dividend at the start of the next UK price controls, starting April 2021. NG must deliver interconnectors on-time to be able to sustain the dividend. We update our model and make a -6% reduction to our 2020E EPS estimate on the sale of the final 25% of Cadent. Our TP rises to 865p/sh (from 850p) driven by higher US asset base growth."

StockMarketWire.com
National Grid said it is pleased that Ofgem's decision surrounding RIIO-2 Framework provides further clarity on the length of the price control from April 2021 and continues to put consumers and other stakeholders in a central role in the process.

The company reported it looks forward to continuing to work constructively with Ofgem and other stakeholders over the coming months to achieve the best possible outcome for all stakeholders.

Separately, Ofgem also published its final decision on the delivery model for the Hinkley-Seabank project (HSB) today, in which it chose the Competition Proxy model.

National Grid announced Ofgem's decision does not affect its commitment to delivering HSB to time and to quality as per our licence obligations.

The company said it will review the detailed decision by Ofgem and consider all of its options prior to Ofgem formally implementing the proposals into the licence later in the year or early 2019.

The HSB project is expected to have a total cost of around £650m, with the majority of forecast spend by National Grid Electricity Transmission in the RIIO-T2 price control period from April 2021 onwards.

JP Morgan Cazenove today reaffirms its overweight investment rating on National Grid PLC (LON:NG.) and raised its price target to 950p (from 870p).

Report for the period ended 30 September 2018

Highlights

· Maintained strong reliability and safety across all networks

· Decided to exercise Cadent 39% options; sale completion in June 2019 providing £2bn cash proceeds

· Reached major milestone in the US with all distribution companies under refreshed rates

· Approved £850m investment to proceed with Viking interconnector

· Launched UK cost efficiency and restructuring programme

Financial performance

· Underlying operating profit down 6% to £1.3bn, primarily from expected return of Gas Transmission allowances and US tax reform, partially offset by favourable legal settlements of £94m

· Underlying EPS of 19.7p, up 1.2p, reflecting a lower tax rate and reduced share count

· Statutory EPS (continuing) of 12.7p after exceptional charges: UK cost efficiency and restructuring programme £127m; Massachusetts Gas workforce contingency plan £97m

· Interim dividend 16.08p/share, up 3.8% in line with policy

· Capital investment £2.1bn, up 7%

USA investment notice https://www.moneyam.com/action/news/showArticle?id=6209798

Bills may soar after power row

StockMarketWire.com
Power utility National Grid said it was disappointed with consultation documents published by the UK regulator, claiming certain parameters made it harder to provide fair returns to shareholders.

National Grid said it was particularly disappointed with regulator Ofgem's cost of equity range.

The range did not appropriately reflect the level of risk borne by transmission network operators, National Grid said.

'In order to deliver the major capital programme required across our networks in a rapidly changing energy market, we need to ensure the regulatory framework also provides for fair returns to shareholders and enables us to continue to deliver world class networks for consumers,' the company said.

National Grid said it would need to work through what was a very detailed consultation document.

It planned to provide a detailed response in early 2019.

The consultation was expected to conclude in the second quarter of 2019, with the RIIO 2 price control commencing in April 2021.

National Grid has reached a deal with two Massachusetts Gas unions over employment terms and conditions, ending a six-month lockout. The agreement is for a five-and-a-half-year contract for 1,250 employees in the company's Massachusetts Gas business. Workers are expected to return to work later this month.

A strategic announcement https://www.moneyam.com/action/news/showArticle?id=6295848