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HIGHLIGHTS
• The UK energy regulator proposed a £20.9-billion package to upgrade the local energy grid capacity as part of a five-year plan.
• Ofgem has the upgrade package would not raise energy bills for struggling households.
UK energy regulator Ofgem has said that the recently proposed £20-billion package for upgrading the UK's regional electricity networks will not raise energy bills for struggling households.
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The energy regulator had earlier proposed to upgrade the local energy grid capacity and build resilience against power outages, among other things, as a part of an initial five-year plan. The package also included £2.7-billion upfront, which caters to boosting grid capacity.
Earlier, the UK energy watchdog had suggested a blueprint to improve the financial health of the energy distributors, including protection for customers' credit balances to boost the resilience and reliability of supply during highly challenging weather conditions.
This is expected to allow innovations to take place, allowing customers to create efficiencies and save money through better data and regularly updated prices during peak and off-peak demand.
We have taken three FTSE 100-listed energy utility stocks that investors may look at before taking an investment call.
Centrica Plc (LON: CNA)
Centrica PLC is a Windsor-headquartered international energy service and solutions company supplying gas and electricity to households and businesses. As of 29 June, the FTSE 100-listed company market cap was £4,956.43 million. The shares of Centrica Plc have appreciated by 59.44% over the last year, while its YTD return stood at 15.47%. With the Earning Per Share (EPS) of 0.21, its shares were trading at GBX 82.56, down by 1.60% at 11: 40 AM (GMT+1).
SSE Plc (LON: SSE)
With a market cap of £17,787.51 million as of 29 June 2022, the multinational energy company SSE Plc develops and operates energy and related infrastructure. The company along with Equinor has entered into a contract to acquire Triton Power Holdings Ltd from Energy Capital Partners in a deal worth £341 million. The FTSE 100-listed company's shares have appreciated 7.44% over the last year, while its YTD return stood at 0.29%. With the Earning Per Share (EPS) of 2.87, its shares were trading at GBX 1,636.50, down by 1.86% at 12: 04 AM (GMT+1).
Note: The above content constitutes a very preliminary observation or view based on market trends and is of limited scope without any in-depth fundamental valuation or technical analysis. Any interest in stocks or sectors should be thoroughly evaluated taking into consideration the associated risks.
