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.
National Grid and Hitachi ABB Power Grids released a study on Sept. 15, 2021, emphasizing the need for strategic planning to support the electrification of large fleet vehicles, including buses and delivery trucks. The study highlights how electrification can significantly reduce greenhouse gas emissions and local pollution. It recommends collaboration among utilities, fleet operators, and governments to address the charging demands of electric medium- and heavy-duty vehicles (MHDVs). Key findings reveal potential grid overloads without necessary upgrades to accommodate this shift.
National Grid has appointed Stephen Woerner as New England President, effective October 1. Woerner, previously President and COO of Baltimore Gas and Electric, brings 30 years of experience, having overseen improvements in safety and customer satisfaction. In his new role, he will lead gas and electric operations in Massachusetts and Rhode Island. The company is also in the process of selling its Narragansett Electric business to PPL Corporation. Woerner holds degrees from Drexel University and Loyola University Maryland.
Niagara Mohawk Power Corp., under National Grid USA, announced preferred stock dividends for the period July 1, 2021, to September 30, 2021. The declared rates are: 0.85% on the 3.40% Series, 0.90% on the 3.60% Series, and 0.975% on the 3.90% Series. The dividends are payable on September 30, 2021, to shareholders on record as of September 16, 2021. National Grid serves about 1.6 million electricity customers and 565,000 natural gas customers in upstate New York. The company is a significant distributor of natural gas in the northeastern U.S.
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.