National Grid profit pulled down as price controls helps energy consumers save May 21, 2015 The figures National Grid suffered a four per cent drop in pre-tax profits to £2.6bn, during a year in which it benefited from a new operating model and new business activities. The firm's share price remained relatively flat this morning, after energy regulator Ofgem announced it was launching an investigation to see if generators provided it [...]
Energy networks’ profits under fire as MPs slam Ofgem for failing customers February 23, 2015 MPs will today blast energy regulator Ofgem for failing to control costs charged by the companies running the UK’s gas and electricity networks. The Energy and Climate Change Select Committee has completed its inquiry into energy network costs, and argues that Ofgem “has not yet delivered value for energy customers”. Network costs currently make [...]
National Grid to limit publication of formal interim management statements January 27, 2015 The National Grid is set to axe its publication of formal interim management statements with immediate effect, it said yesterday. The decision follows the removal of the requirement for companies to publish them, announced by the Financial Conduct Authority (FCA) in November 2014. The company board said the firm’s structure and investor relations made the publishing [...]
As National Grid warns of a winter electricity capacity squeeze, is UK energy policy to blame? October 28, 2014 Matthew Sinclair, an economist and author of Let Them Eat Carbon, says Yes. The UK’s energy sector used to do quite a good job of delivering affordable and reliable energy. Politicians then made a number of interventions which increased costs and reduced reliability. First came obstacles to the construction of new coal capacity, then the [...]
National Grid: Winter blackouts in Britain unlikely, but lowest energy supply in seven years is “slow motion train crash” October 28, 2014 Falling energy supplies in the UK have been dubbed "a slow motion train crash" as it was revealed capacity has fallen to a seven-year low. The National Grid, the UK’s national energy operator, said spare capacity will be close to four per cent this winter compared to around five per cent last year and 17 [...]
UK energy supply for winter is uncertain, National Grid admits September 2, 2014 The UK’s energy supply for this winter is “uncertain”, the National Grid admitted yesterday, as it launched a plan to shore up the supply ahead of cold weather in the coming months. The electricity network operator is seeking extra supply capacity from power generators as a precautionary measure, according to a statement yesterday. It has [...]
National Grid on track for year due to improved performance July 28, 2014 ENERGY network operator National Grid yesterday announced it was on track for the next financial year after making improvements to its business on both sides of the Atlantic. The FTSE 100-listed company said it had made progress in delivering operational efficiencies and with its investment programme in the UK. It planned to spend £3.4bn in [...]
National Grid warns UK could import 90pc of its gas by 2035 July 9, 2014 A failure to invest in UK gas production could see dependency on imports rise to 90 per cent by 2035, National Grid warned today. The forecast from the power network comes amid growing fears about the UK’s energy security, with the spare margin between demand and supply set to narrow to a mere two per [...]
National Grid says power row hurts spending November 21, 2013 NATIONAL Grid has trimmed its investment plan for next year and warned that political wrangling over energy policy is stopping power companies from starting new projects. The FTSE 100 firm, which distributes gas and electricity across England and Wales, expects to spend £3.5bn on upgrades next year, down from the £3.6bn to £3.9bn it had [...]