National Grid (NG.)

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Share Price:
854.60p
Market Cap:
30,084m
Change Today:
16.40p
Sector:
Utilities

National Grid files request to update distribution rates in NY

By Iain Gilbert

Date: Monday 03 Aug 2020

LONDON (ShareCast) - (Sharecast News) - Utility company National Grid has filed a request with the New York Public Service Commission to update electric and gas distribution rates for Niagara Mohawk, its upstate New York distribution business.
National Grid said on Monday that its filing for Niagara Mohawk, which serves 2.2m customers and makes up almost 30% of its US rate base, was a one-year filing - with revenue data submitted for two additional years to help facilitate a multi-year settlement.

The FTSE 100-listed firm expects the new rates to become effective from July 2021.

National Grid added that the filing would fund programmes necessary to continue "a safe and reliable service", as well as to modernise its electric and gas networks, expand electric vehicle charging facilities and promote economic growth.

It was said to also include investment to support affordable decarbonised heating and maintains a focus on managing customer affordability in response to the economic downturn caused by the Covid-19 pandemic.

As of 0810 BST, National Grid shares were up 0.20% at 902.20p.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

National Grid Market Data

Currency UK Pounds
Price 854.60p
Change Today 16.40p
52 Week High 1,067.40p
52 Week Low 799.70p
Volume 4,960,162
Shares Issued 3,520.19m
Market Cap 30,084m

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What The Brokers Say

Strong Buy 13
Buy 1
Neutral 3
Sell 1
Strong Sell 0
Total 18
buy
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