Is this a good time to buy shares in National Grid?
The blaze in a transformer at National Grid's North Hyde substation that triggered the chaos was most likely to have been caused, Neso found, by moisture entering equipment known as a bushing, causing a short circuit and the ignition of oil within it. Moisture had been detected in oil samples in July 2018, indicating an 'imminent fault' that needed fixing — yet National Grid failed to do so for seven years. It deferred basic maintenance at the substation and failed to fix a fire suppression system that was found in 2022 to be 'inoperable'. Some 108 of National Grid's 805 transformers nationally are overdue maintenance, the report found, a proportion that's within the company's own limits but raises obvious questions about what risks may be going unaddressed.
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BBC News
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The Independent
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Daily Mail
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I'm watering my lawn during the hosepipe ban but fear my neighbour seeing: I get so many letters like this, says lawyer DEAN DUNHAM. Do you know the risk you're taking? This is how your water company will find out
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