UK-based energy distributor National Gridsaid on Thursday thebusiness was performing in line with expectations under a new price control regime and it would continue a policy of Udividends that match or exceed British consumer inflation.
Its profit before tax fell 7 percent to 979 million pounds for the six months to September 30, the first period the company has operated under the new formula for controlling its UK prices until April 2021, but it maintained the interim dividend payout at 14.49 pence a share.
British energy regulator Ofgem introduced price controls in April to set returns on National Grid's regulated UK power and gas assets over eight years, versus an earlier five-year period.
Source: Reuters
