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Stock impact report

UK Electricity Grid Set For 'Unprecedented' £35 Bn Investment [Barron's]

National Grid Transco, PLC National Grid PLC (NEW) American Depositary Shares (NGG) 
US:NYSE Investor Relations: investors.nationalgrid.com
Company Research Source: Barrons
The British company said it plans to invest up to £35 billion ($45 billion) to upgrade the UK's electricity grid. "The plan includes an unprecedented level of investment... over the five years to March 2031," National Grid said in a statement. The Labour government, elected in July, has vowed to move away from fossil fuels towards renewable energy, promising among other things to decarbonise the UK's electricity grid by 2030. The grid has struggled with limited transmission capacity, meaning green energy projects have waited years to connect. The investment will upgrade the existing grid network and pay for new construction projects that will see electricity transmission capacity almost doubled. "This plan represents the most significant step forward in the electricity network that we've seen in a generation," said the company's chief executive John Pettigrew. "We will nearly double the amount of energy that can be transported around the country," he added. More than tw Show less Read more
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