National Grid projects FY2027 earnings per share above market estimates, citing its investment portfolio and a strong power grid. The upbeat guidance could support a near-term re-rating if credibility remains intact and investors focus on asset-based cash flows. The brief statement offers no new project-level detail.
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.