National Grid is set to reveal a dip in profits when it reports half-year results on Thursday, as the threat of nationalisation hangs over it. Analysts expect the operator of gas and power transmission networks to post underlying pre-tax profits of £748m for the six months to the end of September, against £816m for the same period last year. The profit slide comes after August’s power cut, which knocked out 5% of the country’s power supply and caused blackouts. Two large power generators – the Hornsea wind farm off the Yorkshire coast and the Little Barford gas-fired power plant in Bedfordshire – failed simultaneously, leaving millions of commuters stranded on trains and at railway stations.
Times 10th Nov 2019 read more »