Saturday, June 25, 2022

National Grid’s profits surge to £3.4bn amid cost of living crisis

- Advertisement -
- Advertisement -


Energy network operator National Grid has reported that its annual pre-tax profit rose 16 percent to £3.1 billion.

The company, which maintains infrastructure and invests in infrastructure rather than distributing energy, said its statutory pre-tax profit is even higher, up 107 percent in the year ended March.

But it said much of the surge was due to National Grid’s £7.8 billion purchase of Western Power Distribution (WPD). Earlier this month, WPD was fined £15million after its support for vulnerable customers during blackouts was deemed “completely unacceptable”.

- Advertisement -
Latest news
- Advertisement -
Related news
- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here