National Grid Share Discussion Threads

[lovewinshatelosses] 27/5/2022 18:01

Exactly what I was referring to, Mirandaj. I saw this coming weeks ago, because this shower can be counted on to u-turn on every decision that will lead to failure.
Hence also seeing them putting in place price controls down the line too I expect, although they will call it something else, no doubt.
Pretty much every proven historically inept policy decision might be on the table with this lot, enthusiastically supported by the opposition parties, who are at least equally stupid.
Worse still, it feels like we are only really at the start of perhaps a decade of high inflation/stagflation, because they do not seem to have learnt any lessons from history so far. Right, that really is it from me now! Good weekend all.

[utyinv] 27/5/2022 18:00

Read last paragraph from this report:-


had a bit more time to dissect yesterday’s windfall tax announcement from the UK Government, we’ve seen further weakness in the UK oil and gas sector.

From Michael Hewson CMC markets:-

He said shares in some of the country’s biggest retailers had been helped by Thursday’s package of support that will put hundreds of extra pounds in the pockets of households across the country.
“Having had a bit more time to dissect yesterday’s windfall tax announcement from the UK Government, we’ve seen further weakness in the UK oil and gas sector.
“While BP and Shell shares have held up quite well, they are still down today, after BP said it would review all of its investment in the UK and North Sea, which could well lead Shell to do the same thing.”
But it was worse for Harbour Energy, a major producer of oil from the North Sea which only operates in the UK.
Its shares ended at the bottom of the FTSE, down more than 10%. EnQuest and Seriva Energy also slid on the news of the extra 25% tax hit they will be facing.

“We’re also seeing weakness in the UK grid and power suppliers over concerns they could be next in line for some form of levy, with SSE, Centrica and National Grid all falling back for the second day in a row, and down on the week,” Mr Hewson said.

[skinny] 27/5/2022 17:55

Haven't events overtaken that article (dated 24th) ?

[mirandaj] 27/5/2022 17:51

This sort of thing won't have helped. Although ok if held long term.

[lovewinshatelosses] 27/5/2022 17:36

I think it is (justified) nervousness stemming from fear that Red Rishi is going to expand the Windfall Tax to include any and all energy outfits that are profitable, under the entirely false premise of price gouging, or some other nonsense narrative, sooner or later.
It will provide some additional gallows humour when his declaration today that this latest helicopter cash burn will not have an impact on inflation.
He really is stupid if he believes that, or stupid for saying it openly, if he is lying.
Cannot believe this guy made money in the private sector before becoming a politician.

[gbh2] 27/5/2022 11:52

Hopefully the panic will easy over the weekend and sanity return Monday/Tuesday with dividend interest.

[1carus] 27/5/2022 10:29

I think the fall is just nervousness from yesterday, NG is neither an oil company or an electricity generator. Green/cheap generators as we have been sold must be making huge profits at these energy rates-- they should be capped and the monies used to offset. The SNP and the Greens up here in Scotland relentless tell us how Scotland has had 100% wind generated days, if so, why are we paying so much for electricity that is decoupled from oil and gas prices? A lot of BS around it seems. A temporary suspension of the green levy and at least a lowering of tax on energy will be the rabbit out of the hat for Rishi if the crisis goes on for another 12 months as you can't impose a windfall tax on more than one occasion as companies would argue that they can't plan for the future.

[50plus] 27/5/2022 10:08

This was my top performer beginning of the week and now it's my worst, looks much more than a bit of profit taking.

[coxsmn] 26/5/2022 15:55

Most likely an excuse for a bit of profit taking after the past 6 months steady rise.

[gbh2] 26/5/2022 15:51

Today is either one hell of a tree shake or someone knows more than what's in the Press today.

[coxsmn] 26/5/2022 15:23

Contradictory to the fact Shell and BP being the ones hit by the windfall tax

[utyinv] 26/5/2022 14:32

BP and Shell share price still rising

[coxsmn] 26/5/2022 12:50

There's been a huge amount of uncertainty about whether the windfall tax would target electricity generators, and Sunak's speech does little to clear it up.The 25pc levy will only apply to North Sea oil producers such as BP and Shell, meaning power companies have been spared for now.However, the Chancellor said a major review of the market was needed, meaning some sort of windfall tax could yet materialise.That's bad news for the likes of SSE and British Gas owner Centrica, which are both trading down still.

[coxsmn] 26/5/2022 12:31

25% windfall tax only on north sea oil producers Shell, Bp.

[gbh2] 26/5/2022 12:13

Recent 2.81% Dividend v approx 6% loss of capital value, ex divi.

[colsmith] 26/5/2022 09:04

Johnson and co are stoking problems for the British people by not seeking to lobby the US (although fat chance of success) for a peaceful solution v Russia and Ukraine; instead they are stoking the winds of war and supporting sanctions that like negative feedback hit the British people - energy and food the obvious ones and thru that inflation and then dozy solutions like the windfall tax. A better policy would be to take off the green 25% tax on energy bills that now mean at £2800 some £750 goes to tax - at a stroke the 2800 could be some 2200. I guess us serfs don't count at least until the next election - when all the promises will come out only to be junked if they win.

[lovewinshatelosses] 26/5/2022 08:44

I think they all rig CPI numbers, not just the UK - but again, I totally agree with you: real rates of inflation are above 10% in the UK and have been IMO for quite some time now.
I also agree with you on the situation being dire. I honestly cannot see any way out of this that does not involve serious pain for the middle classes and working classes. Seriously seminal stuff.
Least worst option is still going to be terrible IMO - but getting inflation down has to trump everything else. Hyper inflation is the only thing that presents a real threat to the establishment's wealth and power IMO.
For this reason, they will do what it takes eventually, but it may be too late by then.
Anyway, no point dwelling on it for too long though. Hope for the best, plan for the worst and try to enjoy life while we have it...sands of time, etc :)

[utyinv] 26/5/2022 08:25

Lovewinshatelosses,

Yes if you use Government massaged inflation figures. But in reality true inflation of the UK is actually running more like 14%. If Holland is worse, I stand corrected.

Either way, the situation is dire and our Chancellor is acting clueless and irresponsible. Someone doing GCSE economics would do a better job IMO

[lovewinshatelosses] 26/5/2022 08:14

Uty: I largely agree with you, except the part about inflation - Holland is worse I think - and I do not envy the position Germany is in right now either, when you consider the weight of the entire eurozone is essentially on their shoulders, along with a greater dependence on Russian resources than most other EU nation states, if not all of them.
gbh: Maybe, but it feels like the equivalent of asking a prisoner to choose between drowning or taking a long walk off a high cliff: the result is ultimately the same, albeit one is quicker!!

[gbh2] 26/5/2022 08:02

Could be worse, if Loony Labour were running the show!

[utyinv] 26/5/2022 08:01

This will make inflation worse. Problem started when Rishi thought he would be popular by giving away so much furlough money and grants. We were the only country in Europe that gave away between 80% and 100% of salaries to allow people to sit at home, enjoying the sunshine drinking beer in their gardens. We now have the worst inflation of the G8 and Europe as a whole.

Got to remember that when anyone was put on furlough one of the stipulations were that they could not do any work for the Company putting them into furlough.

Interest rates need to be put up by at least 5% to stop inflation in its tracks. The BoE Gov should start doing his job rather than being influenced by a Chancellor who is promoting inflation in the hope that it will eradicate the mass waste of money they gave out like confetti.

Pensioners savings, peoples pension will all be hit and all when a Conservative Government have acted as irresponsible as a spend thrift Labour Government, beggars belief. After ruining the economy Rishi will take up residence in the USA where he and his wife can protect their £billions.

Andy Haldane chief economist to the BoE and part of the rate setting committee warned about inflation saying more than £250 billion was sitting in peoples bank accounts due to excess furlough money that wasn’t being used on food heating etc. Of course that 80% and 100% of salaries was far too much, when you couldn’t go to off to work, couldn’t go to restaurants, holiday, shops etc. You couldn’t make real house improvements as you weren't allowed to employ builders.

All the time Labour were shouting encouragement for the PM and Chancellor to increase furlough and for longer. They were using the pandemic to carry out their Marxist redistribution of wealth philosophy. Those that have worked hard for their money are being persecuted by a Conservative Chancellor and a Liberal PM to give unnecessary excess furlough money to those who at the best of times, struggle to do a hard day’s work for fair pay and happy to sit at home drinking beer.

Just after the first lockdown one person who was working for a Company in our area and who was put into furlough was contacted to see if he could return to work at short notice. He refused saying that insufficient notice was given ( even though a bonus would be paid) and that he would prefer to sit at home on 80% salary (drinking beer)…. Honest true account!

We have the worst inflation and prospect than any western EU nation and the worst growth of any G8 Nation.

[lovewinshatelosses] 26/5/2022 07:48

Now they have opened that Pandora's Box, I would not rule out them widening the net to include a whole range of energy sector-related outfits, perhaps even the 'green' ones in time. Which I obviously do not support whatsoever.
I think they are going to increasingly panic as their 'solutions' (to the problems that they are exclusively responsible for creating in the first place) fail, one after the other. That they will no doubt have the enthusiastic support of all the other gangs in Parliament, it will embolden them further, because they will then be able to fall back on this excuse of 'widespread agreement' when they get cross examined down the line at some point. Hey ho.

[slogsweep] 26/5/2022 07:29

Will NG be subject to windfall tax?

[lovewinshatelosses] 26/5/2022 07:28

U-turn on a windfall tax. What a surprise. Price controls in the medium term too no doubt, after the hapless politicians initially reject the idea when it gets floated, as it probably will do sooner or later. That will be a failure too.
Of all the disappointing chancellors we have had, Rishi really is making a strong case for the number one spot :)
Will be interesting to see if it has an impact on NG, or 'just' the BP's and Shells. Either way, these clowns are turning the UK into a complete basket case. Maybe they should just take 10% of all listed companies that are currently making a profit and give it to Greta. In fairness, she probably could not do any worse a job of fiscal policy than this lot.

[bountyhunter] 23/5/2022 12:39

Don't think so, the long term chart is still on track.