National Grid ends lengthy dispute with US unions January 8, 2019 National Grid has struck a deal with unions to end a longrunning dispute at its US business. Shares in the FTSE 100 energy giant rose one per cent this morning after the company announced its agreement with Massachusetts Gas unions over employment terms and conditions. It said the agreement is for a five-and-a-half-year contract covering [...]
Former chiefs of UK’s nuclear body launch legal action over Magnox fiasco January 5, 2019 The former bosses of the UK’s nuclear body are caught in a legal battle over an investigation into the botched handling of the Magnox nuclear decommissioning contract. The former chairman of the Nuclear Decommissioning Authority (NDA) Stephen Henwood and the organisation’s former chief executive John Clarke are trying to block the publication of a critical [...]
National Grid gets shock as Ofgem lowers cap on shareholder payouts December 18, 2018 Ofgem will slash the amount of money network providers can pay to their shareholders under plans announced today, a move which it said could save customers around £45 a year. In an announcement which sent National Grid shares down over nine per cent to 759p, the regulator said it would set the baseline returns at [...]
Debate: Could green energy alone soon power the electric car revolution? December 6, 2018 Debate: Could green energy alone soon power the electric car revolution? Yes – Matthew Wright is UK managing director at Orsted. We are seeing unprecedented developments in green energy, and I believe that clean generation, combined with enhanced battery storage capabilities, will power our move away from petrol and diesel vehicles. This is not just [...]
National Grid profits take a battering from stormy weather as UK restructure rolls on November 8, 2018 Utilities provider National Grid reported a six per cent fall in profits for the six months to 30 September today, partially attributed to storm-related costs and the cancellation of a new pipeline in Avonmouth. Underlying operating profit was £1.3bn, down £83m from the same period last year and of which £4m was attributed to foreign exchange [...]
DEBATE: Would the energy market benefit from Corbyn’s proposed wind turbines and renewable subsidies? September 28, 2018 Would the energy market benefit from Corbyn’s proposed wind turbines and renewable subsidies? Alan Lockey, head of research at Demos, says YES. First, let’s dispense with the notion that it’s a choice between unsubsidised fossil fuels and subsidised renewables: the global energy “market” is all subsidised. In fact, research by the International Energy Association [...]
Electricity bills set to climb this winter as National Grid increases capacity to avert blackouts July 15, 2015 Electricity bills are set to rise, after National Grid was forced to fork out £36m to guard against possible power outages across the UK this winter. The company, which manages the UK’s power transmission network, has bought 2.56 gigawatts of extra power, after power station closures left the country at risk of blackouts. Before [...]
Britain might be struggling with tightest power supply in a decade, but there are very good reasons not to bet on a winter of blackouts July 15, 2015 I was fascinated to hear Lord Redesdale say earlier this month that he would put money on blackouts and brownouts by the end of the year. It’s an interesting position to take, but I am very willing to take up his wager. Why has Lord Redesdale taken up his position? We both know that [...]
Britain facing winter of blackouts as National Grid warns of tightest power supply in a decade July 15, 2015 Britain could be facing a winter of blackouts, with National Grid warning of the tightest winter power supplies in a decade. The country now has just 1.2 per cent of spare capacity in the system, down from 4.1 per cent last year, according to the winter review and consultation showed. It is mostly because [...]
National Grid boss Steve Holliday preparing to step down in 2016 June 21, 2015 National Grid boss Steve Holliday is to leave the company in early 2016, after 14 years with the company and nine as chief executive. Holliday previously worked at US oil major Exxon and was a non-executive director of Marks & Spencer until July last year. The FTSE 100 company may be considering a number of [...]