LONDON (ShareCast) - (Sharecast News) - National Grid guided towards full-year underlying earnings per share in-line with its expectations ahead of its financial year close.
An increase in operating costs associated with minor storms would be offset by lower-than-anticipated RPI-driven costs on its index linked debt.

The multinational electricity and gas utility also incurred in higher operating costs as it moved to safely restore service to customers in Rhode Island after low gas supply into its distribution system in January.

Together with the benefit from non-recurring items, the company's interest costs declined by £100m.

Headline earnings meanwhile would include offsetting impacts from timing over-recoveries and major storms, worth 2p per share each, the company said in a statement.

But any incremental benefit from timing would be returned to customers in future years and they had no impact on the company's long-term financial performance, National Grid said.

Both underlying and headline earnings represent statutory profits minus exceptional items and remeasurements, but the former do not include timing and major storm costs.

The company was scheduled to release its full-year results on 16 May.

As of 1007 BST, shares of National Grid were down by 1.20% to 824.0p.

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