LONDON (dpa-AFX) - National Grid (NG.L, NGG) announced that following a detailed analysis of Ofgem's RIIO-2 Final Determination, the company is accepting the overall package for the Electricity System Operator, and broadly accepting most of the package for the Electricity and Gas Transmission businesses.
Further, the company said it will be submitting a technical appeal to the Competition and Markets Authority or CMA regarding Ofgem's proposed cost of equity and outperformance wedge.
In addition, the Board has reviewed the Group's dividend policy in light of this decision, and announced that from FY2021/22 onwards, the policy will aim to deliver annual dividend per share growth in line with UK CPIH inflation. The Board also reaffirmed the current dividend policy for FY2020/21, with growth at least in line with RPI.
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