NGG - National Grid to appeal part of Ofgem's proposed regulation

National Grid ([[NGG]] +0.8%) says it broadly accepts a price control proposal from U.K. electricity regulator Ofgem and will invest ~€10B ($13.87B) by 2026.But the company will submit a technical appeal to the U.K. Competition and Markets Authority over part of Ofgem's proposed regulation, saying the methodology Ofgem used to set the cost of equity ignores evidence for higher total market return and risk-free rate levels.National Grid also says it reviewed its dividend policy and aims to deliver annual dividend per share growth in line with UK CPIH inflation from the 2021-22 business year.National Grid currently trades at fair value at a 10% discount rate, Thomas Gagan writes in a bullish analysis published on Seeking Alpha.

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National Grid to appeal part of Ofgem's proposed regulation