Contact us Find us Register
Back to previous section

National Grid expects additional £70m from ESO.

National Grid said it performed in line with expectations in its first half, though it registered an unexpected additional £70m contribution from the Electricity System Operator (ESO).

  • National Grid
  • 03 October 2024 08:00:00

Source: Sharecast

The ESO, which was sold back to the government last month for £630m, put it back in public ownership for the first time in decades. It will now turn into the National ESO, or NESO.

National Grid said the additional £70m compared to guidance "reflect[ed] ownership and held for sale accounting treatment".

"Overall, the group's performance is in line with our expectations and, as usual, underlying EPS is expected to be weighted to the second half of the year," National Grid said.

The company said contributions to operating profit over the first half ended 30 September are expected to be consistent with historical periods.

In UK Electricity Transmission and UK Electricity Distribution, operating profit will be broadly evenly split across the year; in the US regulated businesses, operating profits are expected to be weighted to the second half; while in NG Ventures a roughly 40:60 weighting is predicted for operating profit between the first and second half.

FTSE 100 ( UKX )

ISIN: N/A
Exchange: London Stock Exchange
Sell:
0.00
Buy:
0.00
Change: 1.95 ( 0.02 %)
Date:
Prices delayed by at least 15 minutes

Compare our accounts

If you're looking to grow your money over the longer term (5+ years), we have a range of investment choices to help.

View our accounts

Halifax is not responsible for the content and accuracy of the Markets News articles. We may not share the views of the author. Understand the risks, please remember the value of your investment can go down as well as up and you may not get back the full amount you invest. We don't provide advice so if you are in any doubt about buying and selling shares or making your own investment decisions we recommend you seek advice from a suitably qualified Financial Advisor. Past performance is not a guide to future performance.