National Grid reported net debt of 44.2 billion pounds, exceeding analyst expectations of 43.3 billion pounds due to dollar strengthening and U.S. commodity cost timing effects. Despite the higher debt load, the UK utility's overall results aligned with forecasts, sending shares up 1.65% to 12.97 pounds as investors focused on the company's fundamental strength.

The utility shows resilience against Middle East turbulence with limited wholesale energy price exposure and inflation-linked revenues. 80% of National Grid's debt remains locked at fixed rates, providing insulation against interest rate hikes. Hargreaves Lansdown analysts noted the investment plan carries some risks, though progress has been positive, boosting shares another 1.2% to 1,291.50 pence.

Korea Electric Power faces delayed Middle East conflict effects expected to materialize in Q2 as higher oil, coal, and LNG prices increase fuel costs. LS Securities cut its 2026 operating profit forecast by 30% as the state utility contends with elevated raw material expenses that will squeeze margins in the coming quarters.