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National Grid upgrades after UK power chaos

UK and US transmission and distribution giant sees earnings climb on WPD acquisition and power auction price hikes
November 18, 2021
  • National Grid says full-year numbers will be "significantly above" EPS growth targets
  • Auction prices from interconnector assets drive operating profit up 

National Grid (NG.) has increased its full-year profit expectations as the UK grapples with hefty increases in power prices. The transmission and power network company reported operating profit up by £100m more than expected, after electricity auction prices climbed and the early commissioning of a new interconnector, used to import power. 

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