Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  National Grid plc    NG.   GB00BDR05C01

NATIONAL GRID PLC

(NG.)
  Report  
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsAnalyst Recommendations

National Grid : Business Secretary sets out scope of investigation into power cuts

share with twitter share with LinkedIn share with facebook
share via e-mail
0
08/14/2019 | 09:34am EDT

https://www.gov.uk

Government sets out the scope of its review into the actions of the National Grid Electricity System Operator after Friday's power cuts.

- Energy Emergencies Executive Committee to review actions of National Grid following power cuts

- Committee met for first time on Monday and will provide a full report to the Secretary of State within 12 weeks

- National Grid has said power cuts had "nothing to do with changes in wind speed or the variability of wind"

The government today (14 August 2019) set out the scope of its review into the actions of the National Grid Electricity System Operator after Friday's power cuts.

The Energy Emergencies Executive Committee will establish what happened to cause the outage and if correct procedures were followed. It will also consider whether improvements are needed to prevent future power cuts and better respond if they do occur, including minimising impacts on people and essential services.

The committee met for the first time on Monday (12 August) and will provide a report on initial findings within 5 weeks to the Secretary of State for Business, Energy and Industrial Strategy. It will then submit a comprehensive report within 12 weeks.

This review will complement the investigation being undertaken by energy regulator Ofgem into how the electricity operator responded in line with its licence conditions and system security standards. It will advise if any further actions need to be taken.

Business Secretary Andrea Leadsom said:

Friday's power outages caused significant chaos and disruption to hundreds of thousands of people. National Grid is urgently reviewing what happened and will shortly report to Ofgem to consider what action may need to be taken.

National Grid has already confirmed that the incident was not linked to the variability of wind power, a clean, renewable energy source that the government is investing in as we work towards becoming a net zero emissions economy by 2050. Friday's incident does however demonstrate the need to have a diverse energy mix.

I have formally commissioned the government's Energy Emergencies Executive Committee to review the emergency response and recovery procedures for our energy system.

The Energy Emergencies Executive Committee is a partnership between government, the regulator and industry which co-ordinates resilience planning across the energy industry. It ensures a joined-up approach to emergency response and recovery, identifying risks and processes to manage the impact of emergencies affecting the supply of gas and/or electricity to consumers in Great Britain.

.

(C) 2019 M2 COMMUNICATIONS, source M2 PressWIRE

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on NATIONAL GRID PLC
08/15NATIONAL GRID : Government sets out the scope for its probe into National Grid o..
AQ
08/14NATIONAL GRID : Business Secretary sets out scope of investigation into power cu..
AQ
08/14NATIONAL GRID : What was behind Friday's National Grid outage? Network theory, n..
AQ
08/13NATIONAL GRID : Scrip Dividend
PU
08/13NATIONAL GRID : Power cut report due friday
AQ
08/12NATIONAL GRID : UK energy regulator asks National Grid for urgent report into po..
RE
08/12NATIONAL GRID : Probe launched into massive power cut
AQ
08/10NATIONAL GRID : UK energy firm says power cut was not caused by cyberattack
AQ
08/09NATIONAL GRID : Celebrates Hands-On Skills with Trades Summer Camp
PU
08/09NATIONAL GRID : UK power cut snarls trains and road traffic
AQ
More news
Financials (GBP)
Sales 2020 15 806 M
EBIT 2020 3 582 M
Net income 2020 1 985 M
Debt 2020 27 711 M
Yield 2020 5,68%
P/E ratio 2020 14,8x
P/E ratio 2021 14,0x
EV / Sales2020 3,64x
EV / Sales2021 3,70x
Capitalization 29 852 M
Chart NATIONAL GRID PLC
Duration : Period :
National Grid plc Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends NATIONAL GRID PLC
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 915,10  GBp
Last Close Price 857,70  GBp
Spread / Highest target 20,1%
Spread / Average Target 6,69%
Spread / Lowest Target -6,73%
EPS Revisions
Managers
NameTitle
John Mark Pettigrew Chief Executive Officer & Executive Director
Peter Oliver Gershon Non-Executive Chairman
Andrew Jonathan Agg Chief Financial Officer & Executive Director
Adriana Karaboutis Chief Information & Digital Officer
Paul Golby Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
NATIONAL GRID PLC12.24%35 882
ORSTED AS55.38%41 453
SEMPRA ENERGY28.05%38 036
ENGIE7.51%35 692
ELECTRICITÉ DE FRANCE-23.62%34 868
PPL CORPORATION3.14%21 104