![]() ![]() In lieu of acquiring vehicles under Standard Compliance, these fleets implement measures to increase alternative fuel use by deploying alternative fuels in light-, medium-, and heavy-duty vehicles, and lower their petroleum consumption by reducing idling and vehicle miles traveled. ![]() Under the direction of Bill Hilbrunner, fleet director, the company has maintained compliance with EPAct since the regulations went into effect.įrom 2009 through 2011, National Grid complied with its EPAct requirements using the Alternative Compliance option, which allows covered fleets to obtain a waiver from the AFV-acquisition requirements of Standard Compliance. National Grid's predecessor companies began using natural gas vehicles (NGVs) in their fleets in the 1970s, motivated by energy security, emissions reductions, cost savings, and other considerations. One of National Grid's natural gas vehicles fuels up at the pump. Complying with EPActĬertain alternative fuel provider fleets, such as National Grid, must comply with EPAct requirements by acquiring AFVs if they own, operate, or lease 50 or more non-excluded light-duty vehicles and if at least 20 of those vehicles are used primarily within a single Metropolitan Statistical Area and are capable of being centrally fueled. Through these investments, National Grid has established itself as a leader in the alternative fuels arena and a role model for other regulated fleets. The utility has invested heavily in AFVs and infrastructure to meet and exceed the requirements of the Energy Policy Act (EPAct) State and Alternative Fuel Provider Fleet Program. The company delivers electricity to approximately 3.3 million customers in Massachusetts, New York, and Rhode Island and is the largest distributor of natural gas in the northeastern United States. ![]() energy sector and is making its presence felt by deploying natural gas and other alternative fuel vehicles (AFVs) in its fleet. So far, the market appears to be taking the news in its stride, with the shares dipping by less than 1% at the opening.National Grid is a leader in the U.S. In the event National Grid is now guiding toward a modest decline, followed by a return to expansion from FY 2025. National Grid had previously warned that this was coming, but the consensus had been expecting the change to limit the growth rate of earnings per share to modest levels this year. The impact of changes in the government’s capital allowance regime will impact next year’s reported earnings. But there is a niggle in the statement this morning. The figures this morning look to have beaten City estimates by a touch. The shares offer a yield of around 4.8% in the current year. That supports a dividend policy which aims to maintain the real value of the dividend, making National Grid an interesting inflation hedge in the current volatile economic conditions. This will drive growth for years to come, with National Grid estimating that assets and earnings will grow by an average of 9% and 7% respectively during the current price control period, stretching out to 2026. This means major expense for National Grid, upon which the regulator will allow additional revenues. New generation assets must be hooked up to the grid as older, carbon-heavy generation is retired. “National Grid is well positioned to play a major role in the UK’s energy transition. Steve Clayton, head of equity funds, Hargreaves Lansdown: The remainder of the gas transmission is classified as “held for sale” with the buyer holding an option to acquire the remaining stake shortly. Having made a substantial investment into UK electricity distribution the previous year, National Grid raised funds this year through selling NECO, a US electricity operator for £3.1bn and raised further cash through selling a 60% stake in UK gas transmission at the beginning of the year. £236m of operating efficiencies were created in the year, mainly in the US operations, helping to offset the cost pressures National Grid faced in its day-to-day activities. ![]()
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