![]() ![]() Turn your thermostat down just five degrees for residences if you are at home, and to 60 degrees if you are not at home or operating a business.National Guard had these suggestions for gas reduction: Make sure heating vents are not blocked by furniture, carpeting or anything else that could obstruct the flow of heat.Hold off on using appliances such as dishwashers, washing machines and dryers until the conservation request is lifted, if possible.Turn off television sets, computers and other appliances that are not in use. ![]() Each degree lower reduces energy usage and decreases heating costs. Set thermostats at the lowest comfortable temperature.The companies hoped a voluntary reduction would help keep the lights on - and that appeared to do the trick.Ĭon Ed offered the following conservation tips: National Grid's ask for energy reduction went out to its 1.9 million customers in Brooklyn, Queens, Staten Island and Long Island through Christmas afternoon. "The call for conservation covers Con Edison’s 1.1 million natural gas, 3.5 million electric customers and its steam customers in Manhattan and will remain in effect until further notice," the Con Edison's Saturday alert read. ![]() So far, the market appears to be taking the news in its stride, with the shares dipping by less than 1% at the opening.Get Tri-state area news and weather forecasts to your inbox. 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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