National Grid projects higher electric bills, lower gas costs this winter

National Grid faces allegations of overcharging £2 billion for the Sea Link project, with documents showing a discrepancy between claimed and requested costs. Ofgem Chair Mark McAllister accused the company of 'gaming the system.' The National Audit Office warned of £1.9 billion in consumer costs. National Grid defended the figures, citing different cost bases. The book 'OVERCHARGED' highlights the imbalance with small-scale energy funding.

Guinness Global Real Assets Fund reported a 0.8% return in July, underperforming the MSCI World Core Infrastructure Index. The fund highlighted National Grid (NGG) in its Q3 2026 investor letter, noting a $1.75 billion investment in Joulent LLC to support U.S. data center power demand. NGG's stock traded between $73.37 and $94.64 over the past year, closing at $78.23 on October 13, 2026, with a market cap of $78.30 billion.

National Grid raised its fiscal 2027 EPS growth outlook to slightly above 13-15%, citing stronger performance in National Grid Ventures & Other. The division is expected to contribute £130M more due to one-off gains and interconnector operations. Underlying EPS for the year ended March 31 was 78.0 pence, up 6-8%. The company plans £13B in capital investment for 2026/27 and £70B through 2030/31. It also invested £1.3B in Joulent for a 35% stake.

National Grid (NGG) raised its full-year earnings forecast, citing stronger-than-expected first-half performance from its investment portfolio and power grid business. The company now expects earnings growth to exceed prior guidance.

National Grid seeks NY regulators' approval for a $1.7B plan to stabilize gas rates through 2028, deferring costs and recovering them later. The plan includes upgrades to its gas system, with $60M allocated to its Greenpoint, Brooklyn facility. Critics argue the process lacks transparency and could burden customers with higher bills. The Public Service Commission is reviewing the proposal, with no decision yet.

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.