National Grid PLC - NGG STOCK NEWS

National Grid and Hitachi ABB Power Grids released a study on Sept. 15, 2021, emphasizing the need for strategic planning to support the electrification of large fleet vehicles, including buses and delivery trucks. The study highlights how electrification can significantly reduce greenhouse gas emissions and local pollution. It recommends collaboration among utilities, fleet operators, and governments to address the charging demands of electric medium- and heavy-duty vehicles (MHDVs). Key findings reveal potential grid overloads without necessary upgrades to accommodate this shift.

National Grid has appointed Stephen Woerner as New England President, effective October 1. Woerner, previously President and COO of Baltimore Gas and Electric, brings 30 years of experience, having overseen improvements in safety and customer satisfaction. In his new role, he will lead gas and electric operations in Massachusetts and Rhode Island. The company is also in the process of selling its Narragansett Electric business to PPL Corporation. Woerner holds degrees from Drexel University and Loyola University Maryland.

Niagara Mohawk Power Corp., under National Grid USA, announced preferred stock dividends for the period July 1, 2021, to September 30, 2021. The declared rates are: 0.85% on the 3.40% Series, 0.90% on the 3.60% Series, and 0.975% on the 3.90% Series. The dividends are payable on September 30, 2021, to shareholders on record as of September 16, 2021. National Grid serves about 1.6 million electricity customers and 565,000 natural gas customers in upstate New York. The company is a significant distributor of natural gas in the northeastern U.S.

On August 9, 2021, Badar Khan, President of National Grid, praised President Biden's executive order targeting 50% electric vehicle sales by 2030. The order aims to address over 40% of Northeast greenhouse gas emissions from transportation. National Grid emphasizes the importance of expanding charging infrastructure to achieve net-zero goals and plans significant investments, including $200 million for 19,000 charging ports and a proposed $277 million for 32,000 more ports in Massachusetts. The company is committed to converting its fleet to 100% electric by 2030.

Sunnova Energy International (NYSE: NOVA) announces a partnership with National Grid (NYSE: NGG) and SolarEdge (NASDAQ: SEDG) to enhance power quality in New England using its solar and storage assets. This collaboration aims to deliver over 150 GWh of clean energy annually, improving grid efficiency and reliability. The initiative supports National Grid’s Net Zero by 2050 goal and demonstrates the value of distributed energy resources (DERs) in reducing costs for consumers while ensuring efficient power delivery.

National Grid (NYSE: NGG) announced the successful acquisition of a $150 million Portfolio Revolving facility to enhance its renewable energy projects in the U.S. This facility has an accordion feature allowing an increase to $250 million by mid-2022. The funding aims to support the construction of solar, wind, and battery storage projects, generating an estimated 1.05 GW of clean energy and avoiding over 1.6 million metric tons of CO2 emissions annually. This financing reflects National Grid's commitment to a cleaner energy future and economic growth through green jobs.