National Grid PLC (LSE:NG.) said it continues to perform in line with expectations, even though interim underlying earnings per share should see a marginally greater weighting this year than usual.
There was no mention in the FTSE 100 group's trading statement of the energy crisis in the UK that has led to 14 energy companies collapsing in 2021.
READ: National Grid says energy supply can meet UK demand this winter
A fire at a National Grid substation in Kent last month shut down the IFA interconnector, the power cable that links Britain to France, leaving Britain even more reliant on burning gas for electricity and sending gas prices spiking higher.
The utility group's statement today was purely focused on administrative changes ahead of its half-year results, including a first contribution from Western Power Distribution after its acquisition completed in June.
UK Gas Transmission, including the legacy UK gas metering business, is now held as a discontinued operation ahead of its proposed sale.
US regulated operations are expected to see earnings in line with the prior year, with a contribution from Rhode Island, where the sale to PPL Corporation is expected to close by the end of the financial year.
In UK Electricity Transmission, depreciation is now forecast to increase by around £50mln in the full year.
Net finance costs are expected to be weighted more towards the second half due to non-treasury interest benefits in the first half.