Earnings GrowthNational Grid's equity story is compelling, with an estimated 8% earnings per share growth from 2025 to 2029.
Financial StabilityThere are no incremental equity funding needs until the end of the decade, indicating financial stability.
Operational ExpenditureThe analysis of the RIIO-3 Draft Determination suggests a potential 11-24% upside to consensus EPS mostly due to higher operational expenditure allowances.
Regulatory SupportOfgem’s Draft Determination for RIIO-3 is expected to be broadly supportive, improving visibility on earnings and balance sheet metrics.