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

NATIONAL GRID PLC

(NG.)
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UK Network Companies' Innovation Projects Awarded GBP57.6 Million

11/30/2020 | 06:32am EST

By Jaime Llinares Taboada

U.K. regulator Ofgem said Monday that it has awarded five gas-and-power network innovation projects with 57.6 million pounds ($76.7 million).

The price-winners include two projects by National Grid PLC to test the introduction of hydrogen in the company's gas transmission network, and to upgrade electricity-transmission towers to carry more power and avoid the construction of new lines. The hydrogen test facility received GBP9.1 million and the project to increase line voltage was awarded GBP8.1 million.

Scotland Gas Networks, UK Power Networks and Electricity North West are the other companies that were also awarded.

"[The projects] will play a vital role as part of [the U.K.] government's ambitions for climate action and a green economic recovery, supporting jobs, growth and decarbonization across the whole country," David Smith, chief executive of the Energy Networks Association, said.

Ofgem said it will introduce further innovation funding as part of the RIIO-2 price control framework, which will run from 2021 through to 2026. A final decision on RIIO-2 is expected in December.

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

(END) Dow Jones Newswires

11-30-20 0630ET

Stocks mentioned in the article
ChangeLast1st jan.
CHARLES RIVER LABORATORIES INTERNATIONAL, INC. -4.00% 254.85 End-of-day quote.9.48%
NATIONAL GRID PLC -0.66% 876.4 End-of-day quote.1.99%
SINCLAIR BROADCAST GROUP, INC. 11.91% 36.26 End-of-day quote.1.73%
SUPERIOR PLUS CORP. -1.20% 12.32 End-of-day quote.2.38%
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01/25Ofgem recommends independent body to steer Britain to net zero
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01/19NATIONAL GRID : Welcomes natalie edwards as chief diversity officer
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01/13NATIONAL GRID : Receives a Buy rating from RBC
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More news
Financials
Sales 2021 14 966 M 20 505 M 20 505 M
Net income 2021 1 840 M 2 521 M 2 521 M
Net Debt 2021 31 085 M 42 587 M 42 587 M
P/E ratio 2021 16,7x
Yield 2021 5,62%
Capitalization 31 311 M 43 002 M 42 897 M
EV / Sales 2021 4,17x
EV / Sales 2022 4,25x
Nbr of Employees 23 069
Free-Float 92,9%
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Technical analysis trends NATIONAL GRID PLC
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Mean consensus OUTPERFORM
Number of Analysts 20
Average target price 1 012,46 GBX
Last Close Price 882,20 GBX
Spread / Highest target 29,9%
Spread / Average Target 14,8%
Spread / Lowest Target -9,32%
EPS Revisions
Managers and Directors
NameTitle
John Mark Pettigrew Chief Executive Officer & Executive Director
Peter Oliver Gershon Chairman
Paula Rosput Reynolds Chairman-Designate
Andrew Jonathan Agg Chief Financial Officer & Executive Director
Adriana Karaboutis Group Chief Information & Digital Officer
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