Indeed, the North Sea Link has already paid off its carbon costs after just six months with 4.6 terawatt hours of clean electricity imported to Britain from Norway. In this world, the echoes for developed nations to combat anthropogenic climate change will reverberate together with calls to never again be dependent on Russia for energy. ![]() The company is at the intersection of the long drive towards net zero and the reconstruction of the broader European energiewende without Russian input. The bullish base for National Grid is built on this. This describes a visceral need for energy security against the realities of a new world where energy is being weaponized. A shift that was already progressing before the 24th of February but now forms fast accelerating pillars of the new energy zeitgeist. These form the backbone and infrastructure for the secular shift towards decarbonization. This will become the world's longest sub-sea interconnector when completed. National Grid owns the North Sea Link between the UK and Norway and is currently building the Viking Link to connect the UK to Denmark. This alleviates the intermittency of renewables by transferring excess power they generate in Britain to households in France or Belgium whilst importing energy from both these countries when wind availability cannot meet load requirements. Interconnectors are high voltage cables that connect the power grids of neighbouring countries to facilitate the trading of excess power mainly from renewables. Critically, this will facilitate the delivery of power generated from offshore wind farms to consumers across the country and Europe as it will include the connection of 18 offshore wind farms with a combined capacity of 23 GW. National Grid is situated at the core of the transition to lower carbon energy with the company looking to invest tens of billions of dollars over the next decade to upgrade the UK's power grid and build more interconnectors to the continent. It is also a utility provider to New York, Massachusetts, and Rhode Island. The $41 billion company owns and operates electricity transmission networks in the United Kingdom and the United States. ![]() This sets the macro backdrop for London, England-based National Grid (NGG). Even after the war ends, the old status quo is likely dead and the continent will have to lean heavier on renewables to meet its energy demands in the decade ahead. This has put an end to Germany's Energiewende, the country's planned transition to a low-carbon and nuclear-free economy that was built on using cheap Russian natural gas to displace coal whilst expanding onshore wind and solar photovoltaic. What also followed was an explosion in energy prices as Russia responded to sanctions by cutting off its natural gas supply to Europe.įlows of natural gas from Nord Steam 1 and Yamal have ended with the former, a pipeline from Vyborg, Russia to Lubmin, Germany being destroyed two months ago. The largest land war in Europe since the end of the Second World War started on the 24th of February 2022 when Russian forces crossed into Ukraine in a failed attempt to seize the Donbas, Kyiv, and Odesa. The company is trading at a discount to its sector median. National Grid is building infrastructure to facilitate this rising tide of renewable energy. Energy Is On The Frontline Of The War And National Grid Constitutes Europe's SalvoĪmbitious net zero goals by the UK government will require a dramatic expansion of the country's transmission network to connect offshore wind farms to population centres.
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