National Grid Submits GBP7.1 Billion Business Plan to Ofgem
December 09 2019 - 3:21AM
Dow Jones News
By Anthony O. Goriainoff
National Grid PLC (NG.LN) said Monday that it has submitted a
business plan to the U.K.'s Office of Gas and Electricity Markets
that includes total expenditure of 7.1 billion pounds ($9.32
billion) over the next five years.
The U.K. natural-gas and electricity-distribution services
company said its gas transmission plan has a baseline total
expenditure of GBP2.8 billion and entails an increase in asset
health and cyber-related investments, as well as a program to test
and prove hydrogen conversion options.
"With a growing societal focus on the speed of decarbonization
and the challenges in meeting the U.K.'s 2050 net zero emissions
target, the plans provide options for additional anticipatory
investment to facilitate additional wind generation and develop a
national electric vehicle rapid charging network," the company
said.
Write to Anthony O. Goriainoff at
anthony.orunagoriainoff@dowjones.com
(END) Dow Jones Newswires
December 09, 2019 03:06 ET (08:06 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
National Grid (NYSE:NGG)
Historical Stock Chart
From Aug 2024 to Sep 2024
National Grid (NYSE:NGG)
Historical Stock Chart
From Sep 2023 to Sep 2024