National Grid agrees to extend deal with Long Island Power

Utilities group National Grid has agreed with Long Island Power Authority to modify and extend their power supply agreement for at least another 12 years.

National Grid owns and manages a number of power plants on Long Island, with a generation capacity of 3,700 megawatts. The company has been supplying that electricity to communities and businesses across Long Island since 1998, under an agreement with Long Island Power that is currently set to expire in May next year.

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The share price rose 0.65% to 699.50p by 13:22.

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