national grid plc (NG/) Snapshot

National Grid plc and Statnett SF have signed a co-operation agreement to continue work on the interconnector to link the two countries. The NSN interconnector will have a capacity of 1400MW and will be the first electricity link between UK and Norway. The link will contribute to further integration of the North-European power markets and strengthen the North-European power grid. It will support production and consumption of renewable energy and help towards achieving EU 2020 renewable goals. The interconnector will also contribute to increased reliability and security of supply in both countries. It is a cornerstone in the network development plans for the countries surrounding the North Sea basin, and of high priority to the companies. The interconnector project would be an investment of approximately EUR 1.5 billion to EUR 2 billion and the cooperation agreement provides for a 50:50 partnership between National Grid and Statnett. The NSN project will now focus on obtaining the necessary regulatory and environmental agreements and concessions as well as preparing for the procurement of cable and two converter stations. If the project reaches an investment decision as planned in 2014, the interconnector is expected to be complete in 2019/2020.

National Grid plc has unveiled plans for the future home of its Sustainability Hub, a 2,200 square-foot facility centrally located within the company's smart grid pilot area in Worcester, Mass. The space, located at 912 Main Street, has been donated by Clark University and will connect the community and customers under one roof to provide interactive education about energy efficiency and emerging technologies. It is an integral part of the company's smart grid pilot -- now known as the Smart Energy Solutions Program -- for 15,000 customers who choose to participate. National Grid's program, which was developed in partnership with customers, the city of Worcester and other key parties, provides participating customers with a new level of choice and control over their energy use through advanced technology, with the goal of empowering customers to save energy, potentially increasing electric service reliability and improving response to power outages. Sustainability Hub Features: National Grid's Sustainability Hub will house interactive exhibits and educational materials to demonstrate the advanced technology offered as part of the program that will help customers maximize energy savings. This includes helping customers "try-on" in-home energy use displays, programmable thermostats, and dynamic pricing options. Local university student ambassadors from Clark University, Holy Cross and Worcester Polytechnic Institute will help staff the Hub, creating cooperative learning opportunities for both local customers and students. Students also will participate in various internship opportunities under the pilot. Six students from the Claremont Academy's Art Studio have designed an abstract mural for one of the Hub's outside walls that incorporates a conceptual map of the local geography and combines a community, energy and sustainability message. Local artist Jen Swan will transfer the concept onto the outer wall. Demonstrations offered in the Hub will include energy efficiency treatments such as windows, spray-in insulation and tankless water heaters. Displays on controllable and programmable appliances will be available. Exhibits on advanced meters, smart grid electricity system devices and renewables will be on-hand, and an interactive energy management tool will be made available to Hub visitors so they can learn more about energy choice. The Sustainability Hub will feature a community exhibit area that will showcase the many efforts by local organizations that under way throughout the city. When completed during the fall of 2013, the Sustainability Hub will be fully renovated with sustainable materials and energy-efficient equipment donated from vendors including Mitsubishi, GE/Phillips, Blue Hive and Verizon. An electric vehicle charging station will be installed just outside of the facility, which was provided through ChargePoint, through a grant from the U.S. Department of Energy, and is the first street-side electric vehicle charging station to be installed in Worcester.

National Grid plc announced consolidated earnings results for the year ended March 31, 2013. For the year, the company reported revenue of GBP 14,359 million against GBP 13,832 million a year ago. Total operating profit was GBP 3,754 million against GBP 3,539 million a year ago. Total profit before tax was GBP 2,920 million against GBP 2,559 million a year ago. Profit for the year was GBP 2,296 million against GBP 2,038 million a year ago. Profit for the period attributable to equity shareholders of the parent was GBP 2,295 million or 62.3 pence per diluted share against GBP 2,036 million or 55.4 pence per diluted share a year ago. Net cash inflow from operating activities was GBP 3,750 million against GBP 4,228 million a year ago, GBP 296 million lower than 2011-12, principally reflecting the impact of major storms and the working capital impacts of these storms, other weather impacts and commodity prices in the US. Purchases of intangible assets were GBP 175 million against GBP 203 million a year ago. Purchases of property, plant and equipment was GBP 3,214 million against GBP 3,147 million a year ago. Adjusted operating profit was GBP 2,722 million against GBP 2,637 million a year ago. Adjusted net income was GBP 2,097 million against GBP 1,903 million a year ago. Group return on equity was 11.7% against 11.3% a year ago. Adjusted EBIT was GBP 2,562 million against GBP 2,339 million a year ago. Adjusted earnings were GBP 2,055 million or 55.8 pence per share against GBP 1,828 million or 49.7 pence per share a year ago. Net debt was GBP 21,993 million against GBP 20,302 million a year ago.