National Grid (NG.)

Sector:

Utilities

Index:

FTSE 100

1,164.00p
   
  • Change Today:
    -22.50p
  • 52 Week High: 1,245.50
  • 52 Week Low: 884.60
  • Currency: UK Pounds
  • Shares Issued: 3,646.60m
  • Volume: 7,318,522
  • Market Cap: £42,446m

National Grid and SSE win partial success on price controls

By Sean Farrell

Date: Thursday 28 Oct 2021

LONDON (ShareCast) - (Sharecast News) - The UK's competition watchdog has found in favour of SSE and National Grid on part of their appeal on price controls but the companies expressed disappointment that the watchdog rejected some of their objections.
In a final decision the Competition and Markets Authority agreed with the companies that an "outperformance wedge" but supported the energy regulator's calculation of cost of equity for providers. The wedge was designed to offset expected outperformance in the RIIO-2 price control period.

Energy groups also argued that the cost of equity was set too low but the CMA rejected this and said the Gas and Electricity Markets Authority was "not wrong" in its calculation. The CMA also rejected SSE's appeal against changes to transmission network use of system charges are recovered.

The CMA's ruling, which also applies to other energy providers, confirmed a provisional judgment issued in August.

National Grid said it expected revenue to be increased from 2022/23 to reflect the decision on the outperformance wedge.

"We are disappointed that the CMA has not found in favour on the cost of equity," National Grid said. SSE said it would study full details of the CMA's final decision as they are published.

National Grid shares rose 0.2% to 938p at 08:36 BST. SSE shares were little changed at £16.63.

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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
Share Price 1,164.00p
Change Today -22.50p
% Change -1.90 %
52 Week High 1,245.50
52 Week Low 884.60
Volume 7,318,522
Shares Issued 3,646.60m
Market Cap £42,446m

National Grid Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
66.26% below the market average66.26% below the market average66.26% below the market average66.26% below the market average66.26% below the market average
75% below the sector average75% below the sector average75% below the sector average75% below the sector average75% below the sector average
Price Trend
78.30% above the market average78.30% above the market average78.30% above the market average78.30% above the market average78.30% above the market average
50.00% above the sector average50.00% above the sector average50.00% above the sector average50.00% above the sector average50.00% above the sector average
Income
55.01% above the market average55.01% above the market average55.01% above the market average55.01% above the market average55.01% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Growth
73.12% above the market average73.12% above the market average73.12% above the market average73.12% above the market average73.12% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average

What The Brokers Say

Strong Buy 3
Buy 1
Neutral 6
Sell 0
Strong Sell 1
Total 11
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

National Grid Dividends

  Latest Previous
  Final Interim
Ex-Div 01-Jun-22 02-Dec-21
Paid 17-Aug-22 19-Jan-22
Amount 33.76p 17.21p

Trades for 27-May-2022

Time Volume / Share Price
16:35 2,078,687 @ 1,164.00p
16:29 150 @ 1,164.00p
16:29 34 @ 1,163.50p
16:29 19 @ 1,163.00p
16:29 27 @ 1,163.00p

National Grid Key Personnel

CEO John Pettigrew
CFO Andrew Agg

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