Bartlomiej Kubicki's questions to NATIONAL GRID (NGG) leadership • Q2 2024
Question
Asked about the possibility of changing the UK regulatory framework to nominal to boost cash flow, the potential for more transmission-connected solar farms, and sought details on FY'24 guidance regarding interconnector earnings and a one-off ROE item in New England.
Answer
The CEO is not an advocate for a nominal framework in the UK, citing benefits of the current real/nominal mix and the negative impact on customer bills. He confirmed more transmission-connected solar is expected. The CFO explained that interconnector earnings are softening but still healthy, and the New England ROE item is a recovery of prior-year property tax costs agreed with the regulator.