National Grid Stock Price, News & Analysis

National Grid has opened applications for its "Charging Our Future" DEI Engineering Scholarship Program, targeting high school seniors and college students pursuing engineering degrees. The program, now in its second year, will grant scholarships of up to $10,000 and offer paid summer internships to twelve candidates from low- and moderate-income backgrounds for the 2023-2024 academic year. With a commitment to diversity, equity, and inclusion, the program aims to enhance workforce representation in energy sectors while advancing the company’s goals for a clean energy future. Applications are accepted from April 25 to May 22, 2023, and recipients will have opportunities for renewal based on academic performance. This initiative supports National Grid's objective of achieving 50% diversity in senior leadership by 2025.

National Grid has been approved by the U.S. Department of Defense for its SkillBridge program, aimed at providing transitioning service members with internship opportunities. This initiative allows service members nearing discharge to gain civilian work experience, with the potential for employment at National Grid afterward. Interns will receive hands-on training, retain military pay and benefits, and their internships are funded by the program.

National Grid plans to offer positions such as Civil and Substation Supervisor and Customer Meter Service Supervisor in New York. The company is dedicated to leveraging the skills of veterans, currently employing around 700 veterans and 100 reservists. National Grid emphasizes its commitment to transforming energy solutions while maintaining a strong workforce of highly trained individuals.

On February 15, 2023, Niagara Mohawk Power Corp., a subsidiary of National Grid USA, declared dividends for its preferred stock for the period from January 1, 2023, to March 31, 2023. The dividends are as follows:

• .85% for the 3.40% Series
• .90% for the 3.60% Series
• .975% for the 3.90% Series

These dividends will be payable on March 31, 2023, to shareholders of record as of March 17, 2023. National Grid serves around 1.6 million electricity customers and 565,000 natural gas customers in upstate New York.

National Grid has pledged an additional $500,000 to support recovery efforts in western New York following the devastating blizzard in December. This funding matches an earlier contribution from shareholders, totaling $1 million. Four organizations will utilize these funds to aid those affected and bolster community resilience: FeedMore WNY, Back to Basics Ministries, United Way of Buffalo and Erie County, and the American Red Cross. Additionally, late payment fees will be waived for customers impacted by the storm, and a $6 million initiative has been launched to help low- to moderate-income households manage winter bills.

National Grid has announced a $500,000 donation to support recovery efforts in western New York following the devastating December blizzard. The funds will assist local charities to provide essential services to affected individuals and families, emphasizing community resilience for future emergencies. Key initiatives include replenishing food supplies, supporting emergency response teams, and addressing immediate needs of economically vulnerable families through the establishment of a Community Resilience Fund. This initiative reflects National Grid's ongoing commitment to community support and recovery.

National Grid Renewables has commenced construction on the Wild Springs Solar Project in South Dakota, which will be the state's largest solar facility at 128 MWac. This project includes a 114 MW Power Purchase Agreement with Basin Electric and is expected to initiate commercial operations in 2023. It aims to avoid 190,000 metric tons of carbon dioxide emissions annually and generate $12 million in tax revenues over 20 years. Additionally, over $500,000 will be donated to the local community. Ames Construction is the chosen EPC partner for the project.