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National Grid faces $1bn Superstorm Sandy bill

The UK's largest listed energy utility, National Grid (NG), could shock investors tomorrow as it is expected to provide more detail on the clear-up bill after Superstorm Sandy. Angelos Anastasiou, director of utility research at broker Seymour Pierce, said: "A billion dollars is not beyond the bounds of reason, it could be that much". Investors Chronicle was awaiting a response from National Grid at the time of going to press.

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