Nov 28, 2016
National Grid: pile on
Against the disaster of Railtrack and the running controversy surrounding BT's ownership of Openreach, National Grid's combination of steady investment, reliability and decent shareholder returns appears a model for how it should be done. MPs on the Energy Select Committee had in June called for a strict separation between National Grid's role operating the electricity grid and its ownership of the same. MPs foresaw National Grid swaying the results in a way that disadvantaged newer, distributed electricity generation, say, in favour of more investment in its own, traditional assets. National Grid is well placed to benefit from any infrastructure splurge that Mr Trump pushes through. Although MPs suspect it of plotting against novel sources of energy, new and intermittent supply only highlights the value of National Grid's electricity balancing skills.
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