National Grid PLC - NGG STOCK NEWS

On September 21, 2022, National Grid announced the Winter Customer Savings Initiative to support customers during the challenging heating season. The initiative aims to help manage rising energy costs, driven by global conflicts and inflation, through various resources including payment assistance programs and energy efficiency incentives. Starting November 1, residential electric bills are expected to rise 64%, from $179 to $293 for typical usage. National Grid emphasizes providing transparency in energy costs, as they do not profit from energy supply expenses.

National Grid has launched its Northeast Clean Energy Vision during Climate Week NYC 2022, setting the stage for a large-scale clean energy hub on Long Island. This initiative aims to enhance energy efficiency by integrating clean energy sources like offshore wind and solar power, along with hydrogen production and battery storage. The company is concurrently working on modernizing transmission networks to support this vision. National Grid targets a fossil-free future by 2050, with specific projects already underway for improved infrastructure.

Nexamp and National Grid are collaborating on a solar + storage facility at the Coffeen substation in Watertown, New York. This project utilizes a Non-Wires Alternative (NWA) approach to meet increased energy demand while avoiding costly infrastructure upgrades. The facility will feature over 20,000 solar panels capable of generating 8.4 megawatts (MW) and 10 Tesla Megapacks for 31 megawatt hours (MWh) of storage. It aims to provide renewable energy savings for over 1,000 local residents through Nexamp's Community Solar program.

Niagara Mohawk Power Corp., a subsidiary of National Grid, has declared preferred stock dividends for the period July 1, 2022, to September 30, 2022. The dividends are set at 0.85% for the 3.40% Series, 0.90% for the 3.60% Series, and 0.975% for the 3.90% Series, payable on September 30, 2022. Record date for these payments is September 16, 2022. The company serves approximately 1.6 million electricity and 565,000 natural gas customers in upstate New York.

National Grid has identified significant stocks of renewable natural gas (RNG) and hydrogen available for customers in Massachusetts and New York through its innovative Northeast clean energy request for information (RFI). Over 33 trillion BTUs (TBtus) are projected to be available in three years, surpassing the 15 TBtus needed by 2025. RNG and hydrogen are vital to National Grid's strategy for a fossil-free gas network. The commitment aligns with the goal of significantly reducing greenhouse gas emissions across various sectors.

National Grid Renewables held a community celebration on July 13, 2022, at the Prairie Wolf Solar Project in Coles County, Illinois. During the event, they announced a donation of approximately $720,000 to the Kansas School District over the next 20 years, funded by the Prairie Wolf Education Fund. The 200 MW solar project, operational since December 2021, is projected to prevent 285,000 metric tons of CO2 emissions annually and contribute $16 million in tax revenue over 20 years. The project employed 250 workers during construction and currently has 5 maintenance staff.

National Grid expressed its support for the EPA's role in regulating greenhouse gas emissions, even while disagreeing with a recent Supreme Court ruling on the matter.National Grid emphasizes its commitment to reducing emissions and promoting clean energy solutions alongside local, state, and federal partners. The company serves over 20 million people in New York and Massachusetts and is dedicated to transforming energy delivery towards a cleaner future.