Highlights
- Millions of UK households as well as businesses may have to deal with planned power cuts this winter, as per National Grid.
- In the worst-case scenario, households might have to cope with a string of three-hour long power cuts during the rough winter months.
- Households are being urged to assist in preventing blackouts by utilizing more energy through off-peak periods.
Millions of UK households, as well as businesses, might have to deal with planned power cuts this winter, the National Grid has cautioned. This comes amid the acute gas shortage and slashed electricity imports from the rest of Europe. In the worst-case scenario, households may have to cope with a string of three-hour long power cuts during the rough winter months.
In an attempt to lower the overall consumption by 5%, an emergency plan has been prepared. When it is set into action, consumers in distinct parts of the UK would be informed one day earlier about the three-hour time periods throughout which they won’t get electricity.
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In order to avert this situation, households are being urged to assist in preventing blackouts by utilizing more energy through off-peak periods. For instance, using the washing machine overnight or charging electric vehicles at off-peak times may help. Power utilization outside of busy periods is being hailed as the key to prevent blackouts.
As trialled by Octopus Energy earlier this year, consumers who have smart meters installed could get paid for utilizing power in off-peak periods. National Grid expects this service to free up an additional 2GW, which is sufficient to provide electricity to around 600,000 homes, considering adequate businesses and households take part.
As the fears of power shortages loom over the UK, investors can keep an eye on the energy utility companies listed on the London Stock Exchange.
National Grid plc (LON: NG.)
The market cap of the UK-based global electricity and gas utility firm, National Grid plc, stands at £33,292.88 million as of 7 October. The FTSE 100 company’s return on a one-year basis stands at 2.10%. Meanwhile, its YTD (year-to-date) return as of 7 October stands at -13.00%. With an EPS (earnings per share) of 0.65, the company’s P/E ratio stands at 15.16. National Grid currently has a turnover (on book) of £9,780,540.61. NG. shares were trading at GBX 921.40, experiencing a surge of 1.30%, on Friday at 12:50 PM (GMT+1).
Telecom Plus plc (LON: TEP)
The market cap of the UK-based multi-utility supplier of gas, electricity, home insurance, broadband and mobile services to homes and businesses, Telecom Plus plc, stands at £1,789.15 million as of 7 October. The FTSE 250 company’s return on a one-year basis stands at 84.87%. Meanwhile, its YTD return as of 7 October stands at 44.07%. With an EPS of 0.45, the company’s P/E ratio stands at 50.15. Telecom Plus currently has a turnover (on book) of £239,056.60. TEP shares were trading at GBX 2,275.00, experiencing a surge of 0.89%, on Friday at 12:50 PM (GMT+1).
Centrica plc (LON: CNA)
The market cap of the UK-based international energy and services group, Centrica plc, stands at £4,043.23 million as of 7 October. The FTSE 100 company’s return on a one-year basis stands at 23.10%. Meanwhile, its YTD return as of 7 October stands at -0.87%. The company has an EPS of 0.21. Centrica currently has a turnover (on book) of £1,478,348.57. CNA shares were trading at GBX 70.92, experiencing a surge of 3.62%, on Friday at 1:21 PM (GMT+1).
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