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National Grid (NG.)

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idpickering
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Re: National Grid (NG.)

#324739

Postby idpickering » July 9th, 2020, 7:19 am

Ofgem's Draft Determination for RIIO-T2

As part of the ongoing process towards agreeing a settlement for RIIO-T2, Ofgem has today published its draft determination, which covers our UK Electricity and Gas Transmission businesses, and the Electricity System Operator. This follows the submission of our final business plans in December, which were formulated after taking into account the views of our stakeholders following our largest ever stakeholder engagement exercise.

We are extremely disappointed with this draft determination which risks undermining the process established by Ofgem. This proposal leaves us concerned as to our ability to deliver resilient and reliable networks, and jeopardises the delivery of the energy transition and the green recovery.

Ahead of the final determinations which are expected in December, we will be pressing Ofgem to come forward with a regulatory framework that both incentivizes investment and protects consumers.


https://www.investegate.co.uk/national- ... 05065184S/

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Re: National Grid (NG.)

#338665

Postby idpickering » September 7th, 2020, 7:06 am

Ofgem's Draft Determination: Consultation Response

National Grid submitted its responses to Ofgem's RIIO-2 draft determinations on Friday. Our detailed response sets out why we regard a significant number of the current proposals, and the overall package, as unacceptable, not being in the interests of consumers, and not reflecting the views of our stakeholders.

Our largest ever stakeholder engagement programme, conducted as part of the RIIO-2 consultation process, highlighted the importance of maintaining reliable and resilient networks and the important role National Grid has to play in the UK's transition to net zero. For this to be achievable, it requires a flexible regulatory framework that will incentivise investment whilst protecting consumers.

The proposals within Ofgem's draft determination, in particular the combination of the proposed low base level of total expenditure ("totex"), the uncertainty around the approval process for additional totex and the low allowed baseline return and potential inability to achieve it, does not allow this. The proposals also risk disrupting our supply chain, inhibiting our ability to maintain resilient and reliable networks and endangering the critical investment required to put the UK on the path to meet net zero targets.

Our response provides the remedies we believe are required to enable us to deliver the networks and investment our stakeholders clearly want. We have also included results from a consumer preference test, performed by an independent body also used by Ofgem, to show that consumers' preferences are for investment in reliability and net zero above short term bill reductions.

Looking forward, we will continue to engage with Ofgem at all levels, including through CEO and Chair meetings, and October's open hearings, to facilitate an agreement that can create the right incentives to drive the investment and innovation needed to allow the UK to meet its clean energy ambitions, at a cost that is acceptable to consumers.


https://www.investegate.co.uk/national- ... 00081515Y/

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Re: National Grid (NG.)

#339362

Postby idpickering » September 10th, 2020, 7:23 am

Chair Succession

Following the announcement on 30 January 2020 that Sir Peter Gershon had informed the Board of his intention to step down, National Grid is pleased to announce the appointment of Paula Rosput Reynolds to succeed Sir Peter Gershon as Chair. Paula will join the Board on 1 January 2021 as Non-executive Director and Chair Designate and will assume the role of Chair after a transitionary period and no later than the conclusion of the 2021 Annual General Meeting. Sir Peter will remain as Chair until this time.

Mark Williamson, Senior Independent Director of National Grid, who led the search, said; "Today's announcement is the culmination of a succession planning process which we initiated last year. I am delighted that our thorough search process has resulted in Paula's selection as our next Chair. Paula has a highly successful track record as a chief executive across the energy and insurance industries and has over 20 years' experience as a non-executive director in both the UK and US across multiple sectors and businesses."


https://www.investegate.co.uk/national- ... 00075262Y/

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Re: National Grid (NG.)

#355722

Postby idpickering » November 12th, 2020, 7:16 am

Half Year results for period ended 30 Sept 2020

Here; https://www.investegate.co.uk/national- ... 00050520F/

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Re: National Grid (NG.)

#362617

Postby idpickering » December 3rd, 2020, 3:14 pm

Scrip Dividend for 2020/21 Interim Dividend

The optional scrip dividend, allowing shareholders to receive new fully paid ordinary shares in the Company, instead of a cash dividend, is available to ordinary shareholders on the register on 27 November 2020, the dividend record date. A timetable is provided below.


https://www.investegate.co.uk/national- ... 00004535H/

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Re: National Grid (NG.)

#363948

Postby Bouleversee » December 8th, 2020, 10:14 am

There was an article in The Times last week about National Grid experimenting with a 4 day week which I cut out to study later and has now disappeared into the pile. I had expected to see some comments on here, perhaps from Dod. I wondered what you thought about this idea.

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Re: National Grid (NG.)

#363955

Postby kempiejon » December 8th, 2020, 10:26 am

Bouleversee wrote:There was an article in The Times last week about National Grid experimenting with a 4 day week which I cut out to study later and has now disappeared into the pile. I had expected to see some comments on here, perhaps from Dod. I wondered what you thought about this idea.

Unilever trial it in New Zealand https://www.theguardian.com/world/2020/ ... rking-week

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Re: National Grid (NG.)

#363961

Postby kempiejon » December 8th, 2020, 10:33 am

ReallyVeryFoolish wrote:It's a 24x7x365 business anyway.

RVF


Who'd work that shift though.

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Re: National Grid (NG.)

#363980

Postby tjh290633 » December 8th, 2020, 11:13 am

kempiejon wrote:
ReallyVeryFoolish wrote:It's a 24x7x365 business anyway.

RVF


Who'd work that shift though.

There are many ways of working 24/7. The traditional way was to have four sets of people working 168 in a four week cycle. The shifts could be 8 hours or 12 hours. with 12 hours you could have a week on and a week off. Popular for part-time taxi drivers, among other secondary occupations. If you are looking at day shifts, then it depends on how many hours a day people work. If it's 10, then you need to allow for rest day cover. Anybody who has worked on the buses can tell you how this works. Late turns early turns, spreadover turns, holiday cover, rest day cover, it's all worked out to suit how people wish to work it.

TJH

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Re: National Grid (NG.)

#363993

Postby Bouleversee » December 8th, 2020, 11:31 am

I really am losing my marbles. Of course it was Unilever. :oops: Back to square 1.

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Re: National Grid (NG.)

#363998

Postby idpickering » December 8th, 2020, 11:39 am

Ofgem's RIIO-2 Final Determination published

Ofgem has today published its Final Determination for the RIIO-2 framework covering our UK Electricity and Gas Transmission businesses for the period April 2021 to March 2026, as well as the Electricity System Operator.

We will now review in detail the full package contained within the Final Determination to see whether it delivers sufficient investment to maintain resilient and reliable networks, provides the flexibility required to enable the delivery of critical infrastructure to achieve the UK's net zero ambitions, and provides an appropriate overall financial package.

We expect Ofgem to publish its statutory consultation on the proposed licence modifications required to implement the Final Determination shortly. The consultation period will be followed by a period for Ofgem to consider responses, at the end of which Ofgem will publish its decision to modify the licences. Relevant parties have 20 working days from the day on which the decision to modify the licences is published to appeal any part of the proposed licence modifications to the Competition and Markets Authority. Given the current expected timeline, we anticipate that we will make any final decision on whether to accept or appeal the licence modifications implementing Ofgem's Final Determination to the CMA no earlier than late February 2021.


https://www.investegate.co.uk/national- ... 10518436H/

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Re: National Grid (NG.)

#376281

Postby idpickering » January 12th, 2021, 3:39 pm

Scrip Dividend

National Grid confirms that an application has been made to the Financial Conduct Authority for ordinary shares to be admitted to the Official List, and to the Main Market of the London Stock Exchange for 28,755,898 ordinary shares to be admitted to trading, in relation to the operation of the Scrip Dividend Scheme for the 2020/21 interim dividend, payable on 13 January 2021. Dealings are expected to commence on 13 January 2021 and the shares will rank pari passu with the existing issued ordinary shares of the Company.

In accordance with the terms of the scrip dividend, 28,755,898 ordinary shares are to be issued at a price of 864.44 pence per share. In accordance with the terms of the scrip dividend for US holders of American Depositary Receipts ('ADRs'), 83,657 ADRs (each representing 5 ordinary shares) are to be issued at a price of US$57.7160, representing 418,285 ordinary shares (including fractional entitlements).

The current terms and conditions of the scrip dividend scheme are available in the Investors section on the Company's website and from Equiniti on 0800 169 7775 or help.shareview.co.uk .


https://www.investegate.co.uk/national- ... 00062464L/

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Re: National Grid (NG.)

#379180

Postby idpickering » January 21st, 2021, 7:37 am

Grid Guide to the Future of Gas: ESG virtual event

National Grid will today host our 'Grid Guide To… The Future of Gas' virtual event. This is the first in our virtual education series on Environment, Social and Governance (ESG) topics.

The event will provide an opportunity to hear from our experts across our UK, US and NGV businesses, giving the market a deeper understanding of today's themes and the innovative projects we are working on.

Please click here to join us for today's event, which will begin at 14.00GMT (registration required).


https://www.investegate.co.uk/national- ... 00023824M/

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Re: National Grid (NG.)

#379454

Postby Bouleversee » January 21st, 2021, 7:50 pm

Thanks, Ian. Did you listen to this? I did but my tablet battery got dangerously low during the questions so I didn't hear the answers to all of them. It all sounds quite impressive and great from an environmental p.o.v. but what about from an investment p.o.v? The s.p. is disappointing of late. I remember when TMF plugged it on a daily basis. The dividend is good but partly because the s.p. is down and is it sustainable. It is in my non-ISA p.f. (as well as in my ISA) and I want to get rid of all/most of the holdings in that so am debating whether to sell or bed-and-isa which although I am making a profit would not be taxable. I should be interested to know what better brains than mine make of its future prospects. If they are a long term prospect, maybe they are more suitable for the next generations and I should just hand over the cash and let them buy them in their ISAs if they are worth buying at the moment.

I wonder what they are planning to do with the Oxygen which presumably will be separated from the Hydrogen. They could flog it to the NHS for a large profit under the present circumstances as supplies are running out in hospitals and for those dependent on it at home.

Are they as good an investment as SMT which has compensated for some realised losses of mine and is my latest crush? I suspect not.

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Re: National Grid (NG.)

#379518

Postby idpickering » January 22nd, 2021, 6:42 am

Bouleversee wrote:Thanks, Ian. Did you listen to this? I did but my tablet battery got dangerously low during the questions so I didn't hear the answers to all of them. It all sounds quite impressive and great from an environmental p.o.v. but what about from an investment p.o.v? The s.p. is disappointing of late. I remember when TMF plugged it on a daily basis. The dividend is good but partly because the s.p. is down and is it sustainable. It is in my non-ISA p.f. (as well as in my ISA) and I want to get rid of all/most of the holdings in that so am debating whether to sell or bed-and-isa which although I am making a profit would not be taxable. I should be interested to know what better brains than mine make of its future prospects. If they are a long term prospect, maybe they are more suitable for the next generations and I should just hand over the cash and let them buy them in their ISAs if they are worth buying at the moment.

I wonder what they are planning to do with the Oxygen which presumably will be separated from the Hydrogen. They could flog it to the NHS for a large profit under the present circumstances as supplies are running out in hospitals and for those dependent on it at home.

Are they as good an investment as SMT which has compensated for some realised losses of mine and is my latest crush? I suspect not.


You're welcome Lorna. I didn't listen to it no. If others hereabouts did so, please feel free to let us know here how it went?

As for the future of NG. as a share, I'm not certain, but then who is? For me, I'm happy to hang onto my NG. holdings (in my HYP) for the long term, enjoying that nice dividend yield as I do so. I may well buy more of their shares before the next ex-dividend date. imho, they're a top notch utility share, and a solid mainstay/base in my portfolio.

Ian.

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Re: National Grid (NG.)

#379595

Postby Bouleversee » January 22nd, 2021, 11:57 am

Yes, my questions weren't just for you, needless to say.

I'll keep an eye on the share price and watch out for dividend announcements.

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Re: National Grid (NG.)

#379600

Postby Dod101 » January 22nd, 2021, 12:09 pm

I am not sure that any of us should be comparing the performance of SMT with National Grid. They are very different beasts. My feeling for what it is worth is that National Grid will keep producing modestly increasing dividends which is what I want from them. That in turn will modestly increase the share price over time. They are of course quite heavily regulated and that will cap any exuberance.

Dod

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Re: National Grid (NG.)

#390844

Postby TheMotorcycleBoy » February 28th, 2021, 10:59 am

idpickering wrote:Scrip Dividend

National Grid confirms that an application has been made to the Financial Conduct Authority for ordinary shares to be admitted to the Official List, and to the Main Market of the London Stock Exchange for 28,755,898 ordinary shares to be admitted to trading, in relation to the operation of the Scrip Dividend Scheme for the 2020/21 interim dividend, payable on 13 January 2021. Dealings are expected to commence on 13 January 2021 and the shares will rank pari passu with the existing issued ordinary shares of the Company.

In accordance with the terms of the scrip dividend, 28,755,898 ordinary shares are to be issued at a price of 864.44 pence per share. In accordance with the terms of the scrip dividend for US holders of American Depositary Receipts ('ADRs'), 83,657 ADRs (each representing 5 ordinary shares) are to be issued at a price of US$57.7160, representing 418,285 ordinary shares (including fractional entitlements).

The current terms and conditions of the scrip dividend scheme are available in the Investors section on the Company's website and from Equiniti on 0800 169 7775 or help.shareview.co.uk .


https://www.investegate.co.uk/national- ... 00062464L/

Sorry I'm a bit late in parsing this. Work has been hectic of late, and I'm having a quick run through of the recent RNSs of all firms in Mel and my portfolio.

What exactly does this mean for a UK owner of a few NG. shares held in an ISA? Will I receive extra shares instead of a dividend?

thanks Matt

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Re: National Grid (NG.)

#390856

Postby Dod101 » February 28th, 2021, 11:28 am

I have not read the full details but I do not think you will unless you have elected to take share rather than a cash dividend. This sort of RNS is simply to cover the issue of new shares to satisfy those who have asked for them.

This is history now anyway because the dividend was paid in mid January and any new shares issued in lieu of cash will have long since been issued.

Dod

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Re: National Grid (NG.)

#390861

Postby monabri » February 28th, 2021, 11:38 am

Another 29 million shares issued to add to the current ~3500 million ordinary shares. Doesn't this just mean a slight dilution in one's holding?


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