|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||58.40 - 58.90|
|52 Week Range||46.62 - 62.70|
|Beta (3Y Monthly)||-0.10|
|PE Ratio (TTM)||13.33|
|Earnings Date||Feb 22, 2019|
|Forward Dividend & Yield||1.62 (2.76%)|
|1y Target Est||56.92|
The first electricity power link connecting Britain and Belgium is due to start operation in the first quarter of 2019, with construction now complete, Britain's National Grid said on Wednesday. Both countries are keen to increase their electricity supplies, with Belgium in particular needing new sources of power with five of its seven ageing nuclear reactors closed for repairs. The 600 million pound Nemo project is being developed by National Grid (NG.L) and Belgian grid operator Elia.
Gas flows between Britain and Belgium through the IUK pipeline could be interrupted this winter if electricity supply issues facing Belgium require the pipeline operator to turn off its electricity-driven compressors, it said on Thursday. Belgium faces a struggle to meet power demand this winter after six of its ageing seven nuclear reactors are closed for repairs. Its grid operator Elia (ELI.BR) has warned it may have to ration electricity during the high-demand winter months, while fears of a supply shortage that could see lights go out and trains stand still have pushed power prices to record highs.
French energy group Engie (ENGIE.PA) said on Thursday it aims to restart four of its Belgian nuclear reactors by the end of the year, which will help ease a power supply crunch in the country. Belgium is facing an unprecedented electricity supply crunch this winter as six of the country's seven nuclear reactors - all operated by Engie - are offline due to concrete degradation and water cooling issues. Its deputy director general Pierre Mongin said the company has had to lease cocooned gas-fired plants, bring in heavy diesel generators and pay heavy industrial users to curb consumption so as to meet clients' needs.
Greece's electrical grid ADMIE (ADMr.AT) said on Thursday it would set up a company immediately to build a power link connecting the island of Crete to the mainland, overcoming delays that had posed a risk to future power supply. ADMIE said it would complete the Crete-Attica link by 2022 after Greek energy regulator RAE decided the operator had sufficient expertise, reliable technology and the financial clout to take control of the project's construction. The link is crucial for electricity supply on Crete, where a big portion of the power produced by oil-fuelled generators must be switched off after 2020 due to EU emissions regulations.
Moody's Investors Service (Moody's) has today confirmed the Baa1 backed senior unsecured ratings of Eurogrid GmbH (Eurogrid) as well as the (P)Baa1 backed senior unsecured rating of the company's EUR5.0 billion EMTN programme. All debt issued under the programme is guaranteed by Eurogrid's subsidiaries 50Hertz Transmission GmbH (50Hertz) and 50Hertz Offshore GmbH. This rating action concludes the rating review that was prompted by Eurogrid's announcement, on 23 March 2018, that Elia System Operator SA/NV (Elia) had decided to exercise its pre-emption right to acquire an additional 20% stake in Eurogrid International CVBA/SCRL (Eurogrid International), the immediate parent holding of Eurogrid GmbH.
By Victoria Bryan and Gernot Heller BERLIN (Reuters) - Germany is stepping up efforts to prevent companies in critical industries from falling into Chinese hands, taking a stake in a high-voltage network ...
FRANKFURT/BERLIN (Reuters) - Germany is nearing a deal to invest in 50Hertz to fend off China's State Grid as an auction for a 20 percent stake in the German high-voltage energy network operator draws to a close, people close to the matter said. State Grid last week made a final offer worth just below 1 billion euros (924.35 million) for a 20 percent stake in the company that Australian infrastructure fund IFM had put on the block, they said. While no other suitor participated in the final round of bidding, German state bank KfW is still poised to pocket the stake due to the right of first refusal held by Belgian majority shareholder Elia (ELI.BR), they said.
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German power grids must deploy new strategies to cope with targets just set by the government for the expansion of renewable power up to 2030, a prominent operator said in a debate triggered by Berlin's need to meet tough climate goals. 50Hertz, a high-voltage operator in northeast Germany, said more wind and solar power plants could be integrated if the industry parted with the idea they must be synchronised with increased grid capacity. "We must change our thinking from networks having to follow production capacity to renewables having to tap into where the networks are," Boris Schucht, 50Hertz' chief executive, said in an interview.
For long term investors, improvement in profitability and outperformance against the industry can be important characteristics in a stock. In this article, I will take a look at Elia SystemRead More...
LONDON/FRANKFURT (Reuters) - Australian infrastructure fund IFM is in talks to sell its remaining 20 percent stake in German network operator 50Hertz to China’s State Grid after existing shareholder Elia snapped up the first 20 percent stake, sources said. In March, Belgium's Elia (ELI.BR) said it had decided to exercise its right to buy a 20 percent stake in the high-voltage energy network operator for 976.5 million euros (857.3 million pounds) beating China's State Grid, who was also interested.
PARIS/FRANKFURT (Reuters) - European utility companies are retrenching in their home markets and looking to unwind debt-financed cross-border merger deals as increasingly nationalist governments balk at foreign ownership of strategic power supplies. Hungary was one of the first European countries to turn against foreign ownership of utilities back in 2013 but there are growing signs that borders are springing up again in an industry that has struggled to make international deals pay off. Several European utilities were lining up to buy German utility RWE's (RWEG.DE) subsidiary Innogy (IGY.DE) but in March RWE and domestic rival E.ON (EONGn.DE) agreed to carve up the renewable energy firm themselves in an all-German deal.
Moody's Investors Service (Moody's) has today placed on review for downgrade the Baa1 backed senior unsecured ratings of Eurogrid GmbH (Eurogrid) as well as the (P)Baa1 backed senior unsecured rating of ...
** Australian toll road developer Transurban Group said it will buy the A25 toll road and bridge in Canada from Macquarie Infrastructure Partners for C$840 million ($650 million), plus transaction costs of C$18 million. ** Steve Wynn, the former chief executive of Wynn Resorts Ltd, has disposed his entire 11.8 percent stake in the firm for $2.1 billion in a dramatic exit of the casino and hotel enterprise he founded over 16 years ago. ** Tencent Holdings Ltd's shares fell more than 4 percent on Friday, wiping out around $23 billion of market value, after the Chinese internet firm's largest shareholder, Naspers Ltd, lowered its stake for the first time in 17 years.
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French grid operator RTE would be keen to play a part in European Union power grid consolidation and in favour of changing its legal status in order to achieve that, its chief executive said on Wednesday. The largest grid operator in Europe, RTE is majority owned by French state-controlled utility EDF (EDF.PA), but it remains a purely national player in an industry where more and more grid operators have stakes in foreign grids. "RTE is not meant to be merely an observer in the consolidation of the European power grid industry," RTE Chief Executive Francois Brottes told reporters.