National Grid PLC

The Wells Fargo Innovation Incubator, a $56 million technology program funded by Wells Fargo and co-administered by the U.S. Department of Energy's National Laboratory of the Rockies, announced $750,000 in philanthropic funding for four organizations as part of its second Scalable Tech Track. The recipients are Habitat for Humanity of Greater Los Angeles, National Grid, WinnCompanies, and Tucson Electric Power, each selected for pilot projects that address affordable housing and electrical grid demands with expert support from laboratory researchers. Habitat LA will integrate three technologies to streamline planning and building for wildfire-impacted communities, while National Grid will test an automated connection study tool to speed up grid connections. WinnCompanies will implement networked building controls to lower utility costs in multifamily affordable housing, and Tucson Electric Power will partner with the City of Tucson to build a microgrid-powered cooling center using artificial intelligence tools. The pilots are set to launch within six months, and five other cohort organizations that did not receive funding will join an adoption-ready network of Energy Champions.

Eversource, National Grid, EnergyHub, Sunrun, and The Mobility House announced a joint effort to test vehicle-to-grid capabilities in Massachusetts. Qualifying residential customers of Eversource and National Grid will be able to enroll their V2G-capable electric vehicles in the existing ConnectedSolutions program, which already uses flexible capacity from thermostats, batteries, and commercial and industrial resources to reduce grid strain. Participating EVs will send stored energy back to the grid during peak demand, helping prevent system strain and enhancing overall grid stability, while drivers earn incentives. National Grid is also leveraging V2G for light-to-medium-duty fleets within ConnectedSolutions, beginning with school buses, and Eversource is in discussions with districts as part of its ConnectedSolutions+ offering. The partnership aims to turn parked EVs into a vital tool for a more reliable energy system, with more than 150,000 EVs on the road in Massachusetts and an increasing number of bidirectional-capable models available.

National Grid plc will invest $1.75 billion for a 35% stake in Joulent, a U.S. energy platform developing power infrastructure. The investment will fund Joulent's first project, a 2.67-gigawatt gas-fired facility in West Texas that will supply power to a Microsoft-operated data center campus under a 20-year power purchase agreement. The $1.75 billion is incremental to National Grid's five-year capital investment program of at least £70 billion through fiscal year 2031. The company also plans to connect more than 10 gigawatts across the UK and the United States over the next five years as part of its data center connectivity program.

National Grid announced plans to invest at least £70 billion over the next five years, its largest capital program ever, following a record £11.6 billion investment last year. CEO Zoë Yujnovich told shareholders at the annual general meeting that the grid expects to connect up to 35 gigawatts of new generation and 19 gigawatts of new demand, driven by data centers, electrification and industrial growth. The company forecasts asset growth of around 10% per year, underlying earnings per share growth at an 8% to 10% compound annual rate, and continued dividend increases in line with CPIH inflation. Shareholders raised questions on climate policy, data center demand, security and community consultation, with the company emphasizing its balance of affordability, reliability and sustainability. National Grid also highlighted U.S. investments, including a $1.75 billion stake in Joulent, and said it is strengthening physical and cyber protections for critical infrastructure.

National Grid announced a $1.75 billion investment in Joulent, a U.S. artificial intelligence power infrastructure company, to support a 2.67 gigawatt project in Texas. The project, a joint venture with Chevron, will supply power to Microsoft under a long-term contract and benefits from proximity to cheap natural gas in the Permian Basin. The deal is part of National Grid's broader $70 billion expansion plans, though the market reacted cautiously, with shares initially volatile. Analysts have a consensus price target of $88.88, implying about 7% upside from current levels, while the stock trades at nearly 14 times forward earnings with a PEG ratio of 1.15.

Joulent has secured a $1.75 billion strategic minority investment from National Grid through its National Grid Ventures arm. The investment strengthens Joulent's ability to execute on its current multi-gigawatt project, advance its pipeline, and scale its capabilities. Joulent has also formalized a 50% ownership interest in its first project, Kilby, which will deliver approximately 2.67 gigawatts of generation capacity to support a Microsoft-operated data center campus under a 20-year power purchase agreement. The partnership expands Joulent's strategic relationships, which already include GE Vernova and Chevron. National Grid brings expertise in high-voltage networks, system integration, and supply chain capabilities to help Joulent deliver power with speed and certainty.

National Grid is celebrating its 17-year partnership with ISN, the global leader in contractor and supplier information management services. Since 2009, National Grid has used ISNetworld to streamline contractor management and improve jobsite safety across its operations in New England and New York. The platform supports contractor onboarding, qualification, and oversight, with tools like RAVS 360 providing insight into health, safety, and environmental programs. National Grid delivers electricity and natural gas to more than 20 million people across New York and Massachusetts.

Britain's electricity network will require up to £240bn of upgrades to support clean power targets, the Department for Energy Security and Net Zero has admitted. Will Lochhead, a deputy director at the department, told a conference that meeting a more than doubling of electricity demand by 2050 would require between £100bn and £240bn of investment in the electricity network. The energy department had previously warned that grid upgrades would cost £80bn by 2030, but the latest forecasts indicate a much larger programme with costs loaded onto consumers' energy bills through monopoly transmission operators National Grid, SSE and Scottish Power. National Grid's David Adkins said transmission investment plans across Great Britain total £77bn by 2031, with National Grid delivering about £35bn of that, and that a similar scale of investment would be needed beyond 2030. The estimates have drawn political criticism, with Reform UK's Richard Tice calling the costs a dud and shadow energy secretary Claire Coutinho saying the focus should be on making electricity as cheap as possible.