Hydro-Québec, U.S. utilities lock horns over non-payment after deliveries temporarily halted last winter

National Grid plans a $1.2B project to upgrade a 230-kV power line to 345-kV in Massachusetts and Vermont, aiming to enhance grid reliability and capacity.

National Grid Transco said it plans to invest at least GBP 70 billion over the next five years, with about two-thirds covered by regulatory agreements and delivery mechanisms for around three-quarters. It expects up to 35 GW of new generation and 19 GW of new demand connected, plus ~10% annual asset growth and underlying EPS growth of 8% to 10% CAGR. For 2025-26, capex is forecast to rise ~10% to nearly GBP 13 billion, with underlying EPS growth of 13% to 15%.

National Grid Ventures, the commercial arm of National Grid plc, agreed to invest $1.75 billion for a 35% stake in U.S. AI power company Joulent, according to the company. The deal values the stake at $1.75B and gives National Grid Ventures minority ownership, which may affect its investment exposure to the AI power sector.

National Grid said it submitted 25 “tactical proposals” to UK regulator Ofgem under the “re-openers” framework on June 3, seeking about £4.5 billion for transmission infrastructure upgrades in England and Wales. The request is part of its £70 billion, five-year investment plan for US and UK operations, according to the company. Ofgem will review expected spending for consumer value.

National Grid Transco (NYSE:NGG) declared a dividend of $2.1738 per share, payable July 23 to shareholders of record May 29, with an ex-dividend date of May 29, according to the company. The article cites a 77.6% payout ratio and analyst expectations of $6.59 EPS next year versus a $4.30 annual dividend.

Ultragenyx Pharmaceutical Inc. (RARE) shares rose 13% during trading and 3% after-hours after the FDA approved Fayuvi, a gene therapy for Sanfilippo syndrome type A. The stock had previously hit a 52-week low. The therapy, priced at $3.95 million per patient, is Ultragenyx's second gene therapy approval. Retail sentiment on Stocktwits turned 'extremely bullish'.