Welcome to our dedicated page for National Grid news (Ticker: NGG), a resource for investors and traders seeking the latest updates and insights on National Grid stock.
National Grid PLC reports news as a regulated electricity and gas utility group with an ADR traded under NGG. The company owns and operates the high-voltage electricity transmission network in England and Wales, the U.K.'s largest electricity distribution network, and utility operations serving customers in New York and Massachusetts.
Recurring developments include grid modernization, resilience planning, wildfire-risk analytics, energy efficiency programs, virtual power plant participation, large-load interconnection capacity, customer-service and billing technology, and venture activity through National Grid Partners. Updates also cover community programs and operating initiatives tied to electricity transmission, distribution, gas service, and the energy transition.
On August 9, 2021, Badar Khan, President of National Grid, praised President Biden's executive order targeting 50% electric vehicle sales by 2030. The order aims to address over 40% of Northeast greenhouse gas emissions from transportation. National Grid emphasizes the importance of expanding charging infrastructure to achieve net-zero goals and plans significant investments, including $200 million for 19,000 charging ports and a proposed $277 million for 32,000 more ports in Massachusetts. The company is committed to converting its fleet to 100% electric by 2030.
Sunnova Energy International (NYSE: NOVA) announces a partnership with National Grid (NYSE: NGG) and SolarEdge (NASDAQ: SEDG) to enhance power quality in New England using its solar and storage assets. This collaboration aims to deliver over 150 GWh of clean energy annually, improving grid efficiency and reliability. The initiative supports National Grid’s Net Zero by 2050 goal and demonstrates the value of distributed energy resources (DERs) in reducing costs for consumers while ensuring efficient power delivery.
National Grid (NYSE: NGG) announced the successful acquisition of a $150 million Portfolio Revolving facility to enhance its renewable energy projects in the U.S. This facility has an accordion feature allowing an increase to $250 million by mid-2022. The funding aims to support the construction of solar, wind, and battery storage projects, generating an estimated 1.05 GW of clean energy and avoiding over 1.6 million metric tons of CO2 emissions annually. This financing reflects National Grid's commitment to a cleaner energy future and economic growth through green jobs.
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National Grid Renewables announced the operation of its MiSolar Portfolio, comprising two solar projects in Michigan—Bingham Solar and Temperance Solar—that generate 40 MW of clean energy. The projects are expected to create approximately $6 million in tax revenue over 20 years and offset over 50,000 metric tons of carbon dioxide emissions annually. Constructed by local contractor J. Ranck Electric, the project employed 160 workers during peak construction, 95% of whom were from nearby communities. The projects support Consumers Energy's commitment to a net-zero carbon future.
On June 3, 2021, National Grid launched its EV Road Trip, aimed at promoting electric vehicle adoption across New York, Massachusetts, and Rhode Island. The initiative coincides with rising summer travel, providing an online guide to over 40 destinations accessible via EVs, supported by $200 million investment in charging infrastructure. National Grid, a Principal Partner of COP-26, emphasizes sustainability and aims to reduce range anxiety for potential EV users.
National Grid (NYSE: NGG) and RWE Renewables have formed a partnership to develop offshore wind projects in the Northeast U.S. The collaboration aims to participate in the upcoming New York Bight seabed lease auction. This strategic alliance seeks to enhance the renewable energy landscape, reduce emissions, and create local jobs. National Grid will utilize its local expertise and infrastructure experience, while RWE brings extensive offshore wind project capabilities. Together, they will drive economic development and contribute to the clean energy transition.
Niagara Mohawk Power Corp., a subsidiary of National Grid, has declared dividends for its preferred stock for the period from April 1, 2021 to June 30, 2021. The rates are as follows: 0.85% for the 3.40% Series, 0.90% for the 3.60% Series, and 0.975% for the 3.90% Series. Dividends will be paid on June 30, 2021, to shareholders of record by June 16, 2021. National Grid serves approximately 1.6 million electricity and 565,000 natural gas customers in upstate New York.
CPower Energy Management has been selected by Con Edison and National Grid for their Term-Dynamic Load Management (DLM) Program in New York. This program incentivizes customers to provide load relief with significant notice, offering fixed pricing for three to five years. Established by the New York Public Service Commission in September 2020, the initiative supports New York's clean energy goals, including 1,500 MW of energy storage by 2025 and 70% electricity from renewables by 2030. CPower aims to enhance energy flexibility and reliability while fostering investment in clean energy technologies.
The Hershey Company (NYSE: HSY) has announced two significant clean energy partnerships aimed at transitioning to renewable energy. The first project, a 20 MW solar farm in Camden, North Carolina, will reduce CO2 emissions by 32,025 metric tons annually. The second project involves a 50 MW solar power agreement with National Grid Renewables for the Noble Project in Texas, projected to lower CO2 emissions by approximately 83,625 metric tons per year. Together, these projects will decrease Hershey's carbon footprint by 115,650 metric tons annually, aligning with their goals to cut greenhouse gas emissions by over 50% by 2030.