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    NG.   GB00BDR05C01

NATIONAL GRID PLC

(NG.)
  Report
Delayed London Stock Exchange  -  11:35 2022-09-23 am EDT
1013.00 GBX   -1.36%
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National Grid blames tight markets for supply scramble amid heatwave

07/26/2022 | 01:31am EDT

TIGHT markets and fires in East London forced the National Grid to pay record prices for energy from Belgium to prevent power outages during the hottest week of the year.

NGESO, the National Grid's electricity systems operator, said increased demand amid all-time high temperatures led to constraints in supplies to the capital last week. There were also various planned maintenance outages with overhead lines.

A spokesperson said: "In order to keep the network secure in this region, we used the standard operating tools available to us, namely to import via interconnectors.

"We were bidding in a tight market and market prices were high that day because Europe also wanted the energy."

This culminated with NGESO paying an all-time high of £9,724 per megawatt hour last Wednesday to import power from Belgium, according to data from market analyst ENAPPSYs — as first reported in The Telegraph.

(c) 2022 City A.M., source Newspaper

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Analyst Recommendations on NATIONAL GRID PLC
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Financials
Sales 2023 18 416 M 20 134 M 20 134 M
Net income 2023 3 466 M 3 789 M 3 789 M
Net Debt 2023 41 241 M 45 087 M 45 087 M
P/E ratio 2023 10,0x
Yield 2023 5,34%
Capitalization 37 077 M 40 535 M 40 535 M
EV / Sales 2023 4,25x
EV / Sales 2024 4,14x
Nbr of Employees 29 292
Free-Float 93,3%
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Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 13
Last Close Price 1 013,00 GBX
Average target price 1 175,95 GBX
Spread / Average Target 16,1%
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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