National Grid Ventures will spend $1.75 billion for a 35% stake in Joulent LLC, expanding its U.S. contracted power footprint for AI-driven data centers. The Kilby project, a 2.67 GW co-located facility in West Texas with Chevron, targets first power in 2028 under a 20-year Microsoft PPA, signaling long-duration, high-volume grid connections and an expanded multi-project pipeline.
European stocks are projected to open higher, influenced by U.K. political dynamics and National Grid's earnings report. The uncertainty surrounding Prime Minister Starmer's leadership could affect investor sentiment, especially ahead of key GDP data which may impact borrowing costs and economic outlook.
NGG filed a three-year rate plan proposal with New York Public Service Commission. The plan could influence NGG's revenue from electric and natural gas distribution.
Heathrow Airport closed after a fire at an electrical substation. National Grid confirmed other substations had capacity to power Heathrow. Over 1,300 flights were scheduled on the day of the incident. Heathrow's shutdown is expected to cost airlines millions. IATA criticized Heathrow's infrastructure reliance on a single power source.