National Grid plc is a UK-based energy company that delivers electricity and gas to homes and businesses. It operates the high-voltage electricity network in England and Wales and manages local electricity distribution in parts of the UK. In the US, it supplies electricity and gas to millions of customers in New York and New England. National Grid plays a vital role in keeping energy flowing safely and reliably in both countries.

Key Information

  • LSE: NG
  • FTSE 100
  • Large Cap
  • TAG: ENERGY
  • Founded: UK
National Grid Website
Investor Relations

Positives

Energy is essential in today’s digital, electrified, and low-carbon economies. National Grid is a monopoly controlling the whole UK electricity network.

Increased investment in the UK and US supports the energy transition, reduces reliance on gas, and creates jobs.

National Grid is a defensive stock – one that tends to maintain value even during economic downturns.

Negatives

As monopolies, electricity networks are closely regulated. Governments can limit the profit they are allowed to make, especially if prices are seen as too high.

In 2024 the company issued £7bn of shares to fund investment, diluting existing shares and reducing dividends. This may happen again.

Regulated utilities tend to grow steadily but slowly. Investors may prefer fast-growing companies.

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