National Grid is a British company by Founding. As well, it’s more becoming of a transatlantic company. Meaning it’s got a lot of investments in the United States.
Now, operating profits from its US operations were £1.7bln and that’s equal to the Grid’s UK electricity transmission businesses. Heck, the UK market use to be its’ biggest and most important geographic market. Hence it’s obvious to state: Not anymore though!
Consequently, as I’ve written before back in 2017:
Analysis Group did a report on Grid stability for the US Department of Energy. This report was to determine whether renewables can stabilize the Grid. That’s because there’s conservative concerns about going green because coal and nuclear power plants plan to retire.
Not surprising, the report finds going green poses no threat to Grid stability. Therefore, that means solar and wind is all good! It doesn’t need to worry about being considered reliable. Hence, going green on the nation’s power system is real. Green energy is stable and is supporting the grid!!
Therefore, National Grid is placing a greater emphasis on green energy at home and on its growing US market.
The US, where the Grid is one of the largest suppliers of household energy, including New York State-based utility Niagara Mohawk, is growing in importance, though. That’s cool because my utility was NYMO when I lived Int Albany.
In addition, the US now makes up 45% of its’ asset base.
In aaddition, it invested £1bn in its UK electricity transmission operations. As well, it poured £310m in its gas transmission. However, they pumped $3.3b (£2.4bn) in its US business! That’s double the money on USA. Yes, it’s driven by the need to replace and reinforce aging Grid. Although, there’s always a constant flow of renewable energy. National Grid is all in on renewables. It’s stable and consistent.
According to News.sky.com, “Looks like renewable energy is more in the cards than anything else.”