National Grid PLC NG. Initial Proposals: Consultation Response

  National Grid PLC (NG.) - Initial Proposals: Consultation Response

RNS Number : 6005N
National Grid PLC
01 October 2012






01 October 2012

                                      

                              National Grid plc

                   Initial Proposals: consultation response



Today, National Grid has published  its detailed responses to Ofgem's  initial 
proposals for the  UK electricity and  gas transmission (RIIO-T1)  and UK  gas 
distribution (RIIO-GD1) network price controls.



The initial  proposals  are the  first  time that  National  Grid has  had  an 
opportunity to  test  Ofgem's  evidence  and analysis  and  as  a  result  the 
responses are  extensive and  thorough. As  previously stated,  National  Grid 
believes that the initial  proposals as they  stand give rise  to a number  of 
important issues which need to be resolved over the coming months to ensure  a 
fair balance of risk and reward for investors and customers. National Grid  is 
committed to working with  Ofgem to deliver an  affordable deal for  consumers 
which will  allow these  networks  to finance  around  £25bn of  essential  UK 
infrastructure investment.



Full details of the company's response is available from
www.talkingnetworksngd.com and
www.talkingnetworkstx.com/our-business-plans.aspx





                                      

CONTACTS

National Grid:

Investors
John Dawson     +44 20 7004 3170  +44 7810 831944 (m)
Andy Mead       +44 20 7004 3166  +44 7752 890787 (m)
George Laskaris +1 718 403 2526   +1 917 375 0989 (m)
Victoria Davies +44 20 7004 3171  +44 7771 973 447 (m)
Tom Hull        +44 20 7004 3172  +44 7890 534833 (m)
Media
Isobel Rowley   +44 1926 655 275  +44 7917 211116 (m)

Gemma Stokes    +44 1926 655 272  +44 7974 198333 (m)

Chris Mostyn    +44 20 7004 3149  +44 7774 827710 (m)


Brunswick
Tom Burns       +44 20 7404 5959

Kate Holgate    +44 20 7404 5959





CAUTIONARY STATEMENT

This announcement contains certain statements that are neither reported
financial results nor other historical information. These statements are
forward-looking statements within the meaning of Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended. These statements include information with respect to
National Grid's financial condition, its results of operations and businesses,
strategy, plans and objectives. Words such as 'anticipates', 'expects',
'should', 'intends', 'plans', 'believes', 'outlook', 'seeks', 'estimates',
'targets', 'may', 'will', 'continue', 'project' and similar expressions, as
well as statements in the future tense, identify forward-looking statements.
These forward-looking statements are not guarantees of National Grid's future
performance and are subject to assumptions, risks and uncertainties that could
cause actual future results to differ materially from those expressed in or
implied by such forward-looking statements. Many of these assumptions, risks
and uncertainties relate to factors that are beyond National Grid's ability to
control or estimate precisely, such as changes in laws or regulations and
decisions by governmental bodies or regulators (including the new RIIO
approach in the UK); breaches of, or changes in, environmental, climate change
and health and safety laws or regulations, including breaches arising from the
potentially harmful nature of its activities; network failure or interruption,
the inability to carry out critical non network operations and damage to
infrastructure, due to adverse weather conditions including the result of
climate change or due to unauthorised access to or deliberate breaches of our
IT systems or otherwise; performance against regulatory targets and standards
and against National Grid's peers with the aim of delivering stakeholder
expectations regarding costs and efficiency savings, including those related
to investment programmes, restructuring and internal transformation projects;
and customers and counterparties failing to perform their obligations to the
Company. Other factors that could cause actual results to differ materially
from those described in this announcement include fluctuations in exchange
rates, interest rates and commodity price indices; restrictions in National
Grid's borrowing and debt arrangements, funding costs and access to financing;
regulatory requirements for the Company to maintain financial resources in
certain parts of its business and restrictions on some subsidiaries'
transactions, such as paying dividends, lending or levying charges; inflation;
the funding requirements of its pension schemes and other post-retirement
benefit schemes; the loss of key personnel or the ability to attract, train or
retain qualified personnel and any disputes arising with its employees or the
breach of laws or regulations by its employees; and incorrect or unforeseen
assumptions or conclusions (including financial and tax impacts and other
unanticipated effects) relating to business development activity, including
assumptions in connection with joint ventures. The effects of these factors
are difficult to predict. For further details regarding these and other
assumptions, risks and uncertainties please read the Business Review section
including the 'Risk factors' on pages 41 to 43 of National Grid's latest
Annual Report and Accounts. In addition new factors emerge from time to time
and National Grid cannot assess the potential impact of any such factor on its
activities or the extent to which any factor, or combination of factors, may
cause actual future results to differ materially from those contained in any
forward-looking statement. Except as may be required by law or regulation,
National Grid undertakes no obligation to update any of its forward-looking
statements, which speak only as of the date of this announcement. The content
of any website references herein do not form part of this announcement.

                     This information is provided by RNS
           The company news service from the London Stock Exchange

END


FONMMMGGMMVGZZM -0- Oct/01/2012 11:20 GMT
 
Press spacebar to pause and continue. Press esc to stop.