|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||100.90 - 100.90|
|52 Week Range||61.38 - 100.90|
|Beta (3Y Monthly)||0.67|
|PE Ratio (TTM)||27.00|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Britain’s energy regulator has launched an investigation into whether National Grid and 12 local electricity network companies breached their licence conditions after power cuts earlier this month that affected more than a million homes and businesses in England and Wales. It is the first time Ofgem has launched a formal probe into the cause of a power cut in Britain. It will examine whether National Grid holds sufficient reserves of back-up power that can respond rapidly to avoid similar outages in future.
Large parts of England and Wales suffered power cuts on Friday night after a major network failure, affecting around 1m people and causing widespread disruption to trains and roads ahead of a busy weekend for holiday travel. The loss of power lasted for under an hour before it was restored but the disruption continued into the evening. The National Grid electricity system operator said: “This evening we had an unexpected and unusual event, the loss of two generators that connect to the GB transmission system, which led to a fall in the frequency of the electricity system.
Danish energy company Orsted (ORSTED.CO), 50.1 percent owned by the state, said on Sunday that the Finance Ministry had told it there was no longer political support for continuing divestment of its power distribution and residential customer businesses. Reuters reported on Friday that Italy's Enel (ENEI.MI) and the Danish utility SEAS-NVE were among at least four bidders for the business, which was put up for sale in June as Orsted said it planned to focus on developing its international renewable energy operations. Orsted, formerly known as Dong Energy, said it would now "assess the situation and discuss the next steps" and that it was in the best interests of the company, shareholders and customers that the business was transferred to another owner.