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National Grid announces £7.8 billion electricity deal
In today's podcast episode Adrian Lawrence our in-house financial expert talks about the National Grid and how they have announced an asset swap deal, they are selling their UK Gas distribution assets and buying more electricity ones in their place, this increases the proportion of their revenue from Electricity and reduces the proportion from Gas. Given the UK's plans to reach net zero by 2050 this is a positive move, as it moves the company away from involvement with Fossil fuels. Electricity is a regulated area so it also increases the percentage of its revenue which is regulated.
Overall its a positive news story and one that will be welcomed by environmental groups.
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