$NGG

National Grid submitted plans to Swansea Council to bury a section of overhead electricity line on the Gower peninsula, aiming to remove pylons from a protected coastal landscape. The project involves trenching and duct installation, with key challenges including working in sensitive coastal ground conditions and minimizing environmental impact. National Grid has experience in similar projects, such as the Grain to Tilbury cable tunnel under the Thames.

NextEra Energy and National Grid will suspend operations at two Long Island battery storage facilities by October 9, removing Novec 1230 fire suppression agent. This follows a 2023 fire that contaminated drinking water with PFPrA. Suffolk County supports litigation against NextEra.

National Grid is preparing to support Micron's semiconductor plant in Clay, N.Y., by expanding a nearby substation and building transmission lines and a gas pipeline. The power company calls Micron's project a significant opportunity for the region. Micron began construction in January, with the first two fabs expected to be operational soon. The remaining two fabs will start construction in 2028.

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.

FTSE 100 rose 0.5% on Tuesday, led by healthcare and mining stocks. AstraZeneca, GSK, Antofagasta, Anglo American, Glencore, Fresnillo, and Rio Tinto gained 1.4% to 2%. Energy and utility stocks underperformed. UK shop-price inflation eased to 1.4% year-on-year in September, per the British Retail Consortium.

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.

MWD, a contractor for the Mass Save program, is accused of fraud in a lawsuit filed by five utility companies. Investigators found inconsistencies in 220 sites, with less than 10% of MWD's work meeting specifications. The contractor allegedly continued operations under new companies after being suspended. Mass Save administrators stated they have zero tolerance for such actions. The program has faced two other major fraud cases in recent years.

New York regulators will require utilities to file semiannual reports on AI use. Officials cite potential benefits and risks, including privacy concerns and model misconfigurations. National Grid, a utility company, will comply with the new reporting requirement. The PSC aims to assess future regulatory needs based on the reports.

Three Massachusetts utilities (Eversource, National Grid, Unitil) sued Hydro-Quebec for $40M over service pauses last winter. Hydro-Quebec countersued, claiming it prioritized Canadian customers during extreme weather, citing deaths and energy shortages. The dispute involves power contracts for the New England Clean Energy Connect corridor.