National Grid performing in line with expectations

[MoneyGuy]

LONDON (MarketWatch) -- National Grid , the U.K.'s electricity network operator, said Monday that its business performance in the period April 1 to July 25 has been in line with its expectations. The company said it expects higher profits in its non-regulated segment to offset lower profit in distribution due to the timing of rate adjustments and a 15 million pound ($30 million) one-off charge. The company said it's issued around 2.2 billion pounds of long-term debt so far this year, and will raise the remaining 1 billion pounds of funding it needs through commercial paper bank borrowings and bond issues.

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