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    NG.   GB00BDR05C01

NATIONAL GRID PLC

(NG.)
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Delayed London Stock Exchange  -  11:35 2022-08-16 am EDT
1168.00 GBX   +1.43%
11:06aEuropean ADRs Nudge Lower in Tuesday Trading
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09:34aNATIONAL GRID : Scrip Dividend - Form 6-K
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08:04aNATIONAL GRID : first-of-its-kind renewable energy RFI validates a fossil-free energy strategy for the Northeast
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UK Regulator Proposes to Cut Returns for Power Distribution Companies

06/29/2022 | 12:59am EDT

By Jaime Llinares Taboada


The U.K. energy regulator on Wednesday proposed lower return allowances for electricity distribution companies for the 2023-2028 regulatory period known as RIIO-ED2.

Ofgem has published its draft determinations for the five-year cycle starting April 1 that sets the amount of money that can be earned by the distribution network operators. The regulator has proposed a total expenditure package of 20.94 billion pounds ($25.52 billion) to be split across the six companies: Electricity North West Ltd., UK Power Networks, Western Power Distribution, Northern Powergrid, SP Energy Networks and Scottish and Southern Electricity Networks.

Ofgem is also proposing a baseline return on equity allowance of 4.75% and a weighted average cost of capital allowance of 3.26% for most companies.

"Ofgem is...proposing tough efficiency targets for the networks along with a sharp reduction in their allowed rate of return, meaning less of consumers' money goes to company profits," the regulator said, adding that most consumers could see a small drop in network charges.

The energy watchdog said this plan will also boost grid capacity, improve customer service and resilience to prevent outages, and prepare the way for more greener energy generation.


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


(END) Dow Jones Newswires

06-29-22 0259ET

Stocks mentioned in the article
ChangeLast1st jan.
IBERDROLA, S.A. 0.92% 10.945 Delayed Quote.4.18%
NATIONAL GRID PLC 1.43% 1168 Delayed Quote.8.65%
SSE PLC 1.33% 1830.5 Delayed Quote.9.55%
All news about NATIONAL GRID PLC
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Financials
Sales 2023 18 393 M 22 256 M 22 256 M
Net income 2023 3 887 M 4 703 M 4 703 M
Net Debt 2023 41 049 M 49 670 M 49 670 M
P/E ratio 2023 11,4x
Yield 2023 4,71%
Capitalization 42 629 M 51 581 M 51 581 M
EV / Sales 2023 4,55x
EV / Sales 2024 4,42x
Nbr of Employees 29 292
Free-Float 93,2%
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Mean consensus HOLD
Number of Analysts 13
Last Close Price 1 151,50 GBX
Average target price 1 175,95 GBX
Spread / Average Target 2,12%
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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