NGET agrees to $23m settlement for Harker substation failures [Yahoo! Finance]
National Grid Transco, PLC National Grid PLC (NEW) American Depositary Shares (NGG)
US:NYSE Investor Relations:
investors.nationalgrid.com
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Source: Yahoo! Finance
Ofgem, totalling £20m ($23.25m), following failures at the Harker 132kV substation near Carlisle, Cumbria, North West England. This settlement will be directed into Ofgem's Energy Industry Voluntary Redress Scheme as a result of NGET's acceptance of lapses in monitoring, maintaining and repairing civil assets between November 2016 and November 2021. The Harker substation is crucial for customers in the North West of England and helps connect renewable generation to the distribution network. It also links to the 132kV transmission network in Scotland, contributing to the network infrastructure across the Anglo-Scottish border. An investigation by Ofgem, initiated in March 2022, found that NGET did not adequately manage the condition of some civil assets at Harker. This oversight led to delays in connecting embedded generation in the area. NGET has acknowledged deficiencies in monitoring and repairing these assets, which resulted in problems such as spalling concrete exposin
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News
- National Grid Transco (NGG) was downgraded by Zacks Research from "strong-buy" to "hold".MarketBeat
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NGG
Sec Filings
- 3/2/26 - Form 6-K
- 2/27/26 - Form S-8
- 2/27/26 - Form 6-K
- NGG's page on the SEC website