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    NG.   GB00BDR05C01

NATIONAL GRID PLC

(NG.)
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Real-time Estimate Quote. Real-time Estimate Cboe Europe - 01/27 09:12:00 am
1095.9 GBX   +2.02%
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Britain's National Grid confident of meeting winter demand

11/18/2021 | 07:13am EST
Migrating starlings fly at dusk past electricity pylons silhouetted by the sunset of a clear autumn evening in the Kent countryside,  in Graveney, Britain

(Reuters) - Britain will have enough gas and electricity capacity to keep the lights on this Christmas, the boss of National Grid said on Thursday, allaying fears of an energy crisis amid surging prices and demand.

Energy prices in Britain have soared to record highs, causing nearly two dozen energy suppliers to collapse and some industrial firms to reduce output.

"Obviously, things can happen. That's the nature of energy markets and our job is to monitor that," National Grid Chief Executive John Pettigrew said in an interview. "But based on our winter outlook reports, we see sufficient capacity both on the gas and on the electricity side."

The remarks echo those in National Gas' winter gas outlook released in October, when it said there was enough supply to meet demand this winter.

European wholesale gas and power prices have risen sharply due to lower-than-usual gas stocks this summer, reduced supply from Russia and the onset of colder temperatures.

In the UK, high wholesale gas prices have contributed to an increase in wholesale power prices, as gas plants account for around 40% of electricity generation in Britain.

Pettigrew's comments came as National Grid reported half-year financial results and lifted its annual earnings outlook, benefiting from an early commissioning of the North Sea Link electricity interconnector between Britain and Norway.

Annual underlying earnings per share growth would come in "significantly above" the top end of its 5%-7% outlook range, National Grid said. The forecast was also driven by higher auction prices across its interconnector portfolio.

The North Sea Link power cable worth 1.6 billion euros ($1.8 billion) began commercial operations early last month and is expected to improve the UK's energy security.

National Grid's half-yearly underlying operating profit from continuing operations jumped 47% to 1.41 billion pounds and the firm declared an interim dividend of 17.21 pence per share.

($1 = 0.7409 pounds)

(Reporting by Aby Jose Koilparambil and Sachin Ravikumar in Bengaluru; Editing by Sherry Jacob-Phillips, Kirsten Donovan)

By Aby Jose Koilparambil and Sachin Ravikumar


ę Reuters 2021
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Analyst Recommendations on NATIONAL GRID PLC
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Financials
Sales 2022 15 692 M 21 016 M 21 016 M
Net income 2022 2 290 M 3 067 M 3 067 M
Net Debt 2022 40 687 M 54 493 M 54 493 M
P/E ratio 2022 15,2x
Yield 2022 4,72%
Capitalization 39 154 M 52 914 M 52 438 M
EV / Sales 2022 5,09x
EV / Sales 2023 4,87x
Nbr of Employees 23 683
Free-Float 93,2%
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Technical analysis trends NATIONAL GRID PLC
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 16
Last Close Price 1 074,20 GBX
Average target price 1 090,50 GBX
Spread / Average Target 1,52%
EPS Revisions
Managers and Directors
John Mark Pettigrew Chief Operating Officer-UK Gas Distribution
Andrew Jonathan Agg Chief Financial Officer & Executive Director
Paula Rosput Reynolds Chairman
Adriana Karaboutis Group Chief Information & Digital Officer
Lisa M. Lambert Chief Technology & Innovation Officer
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