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

NATIONAL GRID PLC (NG.)
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National Grid : Electric vehicles could lift UK peak power demand by 5-8 GW by 2030 - National Grid

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07/12/2018 | 02:03am CET
A member of staff charges an electric car at the Holloway Road Shell station where Shell is launching its first fast electric vehicle charging station in London

LONDON (Reuters) - The growing use of electric vehicles could increase peak electricity demand in Britain by between 5 and 8 gigawatts (GW) by 2030, National Grid said on Thursday.

Last year, the government said it would ban the sale of new petrol and diesel cars and vans from 2040 to help reduce air pollution and help Britain to cut carbon emissions by 80 percent by 2050 from 1990 levels - the target it has set itself.

Although some conventional cars will remain on the road, numbers of electric vehicles (including cars, motorbikes, vans and buses) could swell to 11 million by 2030 and 36 million by 2040, according to National Grid's annual Future Energy Scenarios report.

As a result, electricity demand will increase, driven initially by the charging of electric vehicles and later as the pace picks up to decarbonise the heating sector.

Under scenarios which envisage Britain meeting its 2050 carbon reduction target, additional peak electricity demand could be between 5 and 8.1 gigawatts (GW) by 2030. This represents a 9 to 14 percent rise from 2017 peak electricity demand in Britain of 57 GW.

This also takes into account both residential and non-residential charging and depends on the use of smart-charging technologies, charging vehicles at off-peak times, the National Grid added.

After 2030, vehicle-to-grid technology, which will help electric vehicles power households, should help reduce additional peak power demand further.

"Through smart charging and vehicle-to-grid technologies, this year's analysis reveals electric vehicles will be able to support the continued growth in renewables by storing excess generation and releasing it back onto the network when it is needed," the report said.

(Reporting by Nina Chestney, editing by David Evans)

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Financials (GBP)
Sales 2019 15 360 M
EBIT 2019 3 348 M
Net income 2019 1 865 M
Debt 2019 26 335 M
Yield 2019 5,72%
P/E ratio 2019 15,02
P/E ratio 2020 13,94
EV / Sales 2019 3,55x
EV / Sales 2020 3,43x
Capitalization 28 182 M
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Mean consensus OUTPERFORM
Number of Analysts 16
Average target price 9,21  GBP
Spread / Average Target 11%
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Managers
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John Mark Pettigrew Chief Executive Officer & Executive Director
Peter Oliver Gershon Non-Executive Chairman
Andrew Jonathan Agg Chief Financial Officer
Adriana Karaboutis Chief Information & Digital Officer
Paul Golby Independent Non-Executive Director
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