National Grid plc (LSE:NG.) said trading remains in line with expectations and consistent with guidance provided at its interim results, though it now anticipates a small reduction to earnings.
The company expects an approximately 1p per share impact on underlying earnings, driven by customer refund charges related to the 19 March ruling by the Federal Energy Regulatory Commission (FERC) concerning its New England Transmission operations. Additional pressure has come from higher-than-expected storm-related costs in its US business.
These factors are partly offset by slightly lower finance costs, helping to limit the overall effect on earnings.
National Grid is scheduled to report its full-year results on 14 May. Shares were down around 0.7% in early trading following the update.
More about National Grid
National Grid plc is a FTSE 100-listed utility company focused on the transmission and distribution of electricity and gas across the UK and the United States. It operates critical energy infrastructure, connecting generation sources to homes and businesses while supporting the transition to cleaner energy systems.
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