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4-Traders Homepage  >  Equities  >  London Stock Exchange  >  National Grid plc    NG.   GB00B08SNH34

Delayed Quote. Delayed  - 09/30 05:35:22 pm
1092 GBp   -1.27%
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National Grid plc : Bridgnorth gas pipe replacement reaches second phase

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06/11/2013 | 07:53pm CEST

The work that National Grid has been carrying out since early May to replace a section of the gas main along the B4373 Bridgnorth to Broseley road is about to enter its second phase. For this phase of the work to be carried out safely, the temporary traffic lights that are currently being used will be removed and the road will close to through traffic completely for 16 weeks, starting on Monday 1st July.

While the road is closed, traffic will be diverted along the A458 toward Much Wenlock, and then right into the road known locally as Merrywell Lane, after which it will join the B4376 to Broseley. The diversion will be clearly signposted throughout.

The pipe that National Grid is replacing along the B4373 has developed several gas escapes over the past few months.  Engineers have considered carefully whether to repair or replace the pipe and have concluded that replacement is the best option.  The new sections of pipe will ensure that homes and businesses in the area continue to receive a safe and reliable gas supply for many years to come, and that further roadworks are unlikely to be needed along the road in the foreseeable future.

"We're sorry that we're going to have to close the busy B4373 for such a long period," said National Grid's head of network, Steve Murray, "but we really do believe that replacing the worn-out pipe is the right option. This is a non-standard size pipe and so repairing it would have needed parts to be specially made which would have taken several weeks.  But, installing a new pipe will,  provide a permanent and reliable solution."

National Grid is installing around one kilometre of new pipe, which is made from tough corrosion-resistant plastic, alongside the existing pipe. When the installation is complete, gas will be diverted from the old pipe into the new one, and the old pipe will be abandoned. The pipe is a key part of the National Grid gas network, and provides the gas supply to more than 7,000 homes and businesses in Bridgnorth.

Ends


Contact for media information only:
Jane Taylor
National Grid Media Relations

07785 220647
jane.taylor@nationalgrid.com

Out of hours duty press officer:
+44 (0) 1926 653000

For more information, please:

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Notes to Editors:

National Grid

National Grid (LSE: NG; NYSE:NGG) is an electricity and gas company that connects consumers to energy sources through its networks.  The company is at the heart of one of the greatest challenges facing our society - to create new, sustainable energy solutions for the future and developing an energy system that underpins economic prosperity in the 21st century.  National Grid holds a vital position at the centre of the energy system and we 'join everything up'. 

In Britain, we run the gas and electricity systems that our society is built on, delivering gas and electricity across the country.  In the North Eastern US, we connect more than seven million gas and electric customers to vital energy sources, essential for our modern lifestyles.

National Grid in the UK:
• We own the high-voltage electricity transmission network in England and Wales, operating it across Great Britain
• We own and operates the high pressure gas transmission system in Britain
• Our gas distribution business delivers gas to 11 million homes and businesses
• We also own a number of related businesses including LNG importation, land remediation and metering
• National Grid manages the National Gas Emergency Service free phone line on behalf of the industry - 0800 111 999 (all calls are recorded and may be monitored).

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Financials ( GBP)
Sales 2017 16 098 M
EBIT 2017 4 158 M
Net income 2017 2 387 M
Debt 2017 26 051 M
Yield 2017 4,01%
P/E ratio 2017 16,03
P/E ratio 2018 16,98
EV / Sales 2017 4,20x
EV / Sales 2018 4,14x
Capitalization 41 638 M
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Average target price 9,89  GBP
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John Mark Pettigrew Chief Executive Officer & Executive Director
Peter Oliver Gershon Non-Executive Chairman
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Richard Adduci Chief Information Officer
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