Projects Across Northeast Will Harden Grid, Reduce Emissions and Deliver Benefits for Customers & Local Economies BROOKLYN, N.Y. and WALTHAM, Mass., May 23, 2024 /PRNewswire/ -- National Grid today announced plans to invest an estimated $75 billion* across the company's service territory in the UK and US over the next five years, with nearly half of the funding dedicated to US energy system improvements in Massachusetts and New York. This significant step up to approximately $35 billion* of investment repre ...

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) £ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR R ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended 31 March 2024 OR £ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR £ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of event r ...

Investment Plans and Financial Growth - National Grid announced a £60 billion investment plan over the next five years, nearly double the investment of the past five years, aiming for 10% annual group asset growth and 6-8% underlying EPS CAGR from a 2024/25 baseline[8] - Total cumulative capital investment over the five-year period from 2024/25 to 2028/29 is expected to be around £60 billion[29] - Group asset growth CAGR is projected to be around 10% from a FY24 baseline, driven by a strong balance sheet[29] - Underlying EPS CAGR is expected to be 6-8% from a 2024/25 baseline, adjusted for the Rights Issue[29] - The company expects to invest around £60 billion in energy networks and adjacent businesses over the next five years, with group assets projected to reach £100 billion by March 2029[120] - In the UK, the company plans to invest £23 billion in Electricity Transmission and £8 billion in Electricity Distribution over the next five years[121] - In the US, the company expects to invest £17 billion in New York and £11 billion in New England over the next five years, with 60% allocated to electricity networks[122] - The company anticipates a CAGR in underlying EPS of 6-8% from 2024/25 to 2028/29, with a total DPS of 58.52p/share for 2023/24[126][128] - Total Group capital investment for 2023/24 is expected to be around £10 billion, with Group Asset Growth projected at 10%[145] - Group expects capital investment of around £10 billion for continuing operations in 2024/25[194] Operational Performance and Profitability - The company reported a 6% increase in underlying operating profit and underlying EPS at constant currency, with a record investment of £8.2 billion across the Group[10] - The company's underlying operating profit for continuing operations was £4.8 billion, up 4% at actual exchange rates (6% at constant currency)[20] - National Grid's statutory operating profit for continuing operations decreased by 8% to £4.5 billion, with statutory EPS down 19% to 60.0p[20] - Underlying operating profit for continuing operations increased by 6% to £4,773 million in 2023/24[41] - Return on Equity (RoE) across the Group decreased by 210 basis points to 8.9% in 2023/24[44] - Adjusted earnings for 2023/24 were £3,100 million, up 33% from the prior year, including a timing over-recovery after tax of £688 million[154] - Underlying operating profit for continuing operations increased by 4%, driven by higher allowed revenues in UK Electricity Transmission and rate increases in KEDNY/KEDLI and NIMO[156] - Adjusted operating profit increased by £1,168 million (27%) or 29% on a constant currency basis, driven by improved performance in UK Electricity Transmission, New York, and New England[170] - Statutory operating profit decreased primarily due to exceptional net charges of £1,011 million, partly offset by favourable year-on-year movements in timing net over-recoveries and commodity derivative remeasurements[170] - Statutory IFRS earnings for 2023/24 were £2,216 million, down 18% from the previous year, impacted by £1,011 million in exceptional net charges[153] Capital Investment and Asset Growth - The company's capital investment for continuing operations increased by 8% to £8.2 billion, driven by early investment in UK Electricity Transmission and new transmission projects in New York[18] - Capital investment for continuing operations increased by 11% to a record £8,235 million in 2023/24[30] - UK Electricity Transmission capital investment increased by 47% to £1,912 million in 2023/24[30] - Renewable energy connected to the UK Transmission and Distribution Grids increased by 1,752% to 2,444 MW in 2024[31] - Total capital investment for continuing operations in 2023/24 was £8,235 million, an 8% increase (£642 million) at actual exchange rates and 11% at constant currency[194] - UK Electricity Transmission capital investment increased by 47% to £1,912 million in 2023/24 compared to £1,301 million in 2022/23[195] - New York capital investment rose by 8% to £2,654 million in 2023/24, with a 12% increase at constant currency[195] - National Grid Ventures (NGV) capital investment decreased by 32% to £662 million in 2023/24 due to largely completed projects in the prior year[195] - UK regulated asset base (RAV) increased by 7.3% in 2023/24, influenced by higher CPI inflation on RAV indexation[199] - US rate base grew by 11.5% in 2023/24, reflecting strong capital investment[199] - NGV and Other businesses increased assets due to ongoing capital investment, contributing to overall asset growth[199] - UK Gas Transmission capital investment in 2022/23 was £301 million, prior to the business disposal in January 2023[198] Renewable Energy and Environmental Initiatives - National Grid connected 3,030 MW of renewable energy across its UK and US transmission and distribution networks, an increase of 2,344 MW compared to the prior year[24] - The company achieved a 5.9% reduction in Scope 1 and 2 emissions versus 2022/23, and a 11.8% reduction against the 2018/19 baseline[24] - Renewable energy connected to the UK Transmission and Distribution Grids increased by 1,752% to 2,444 MW in 2024[31] - 3,030 MW of renewable energy connected across UK and US networks, with a 1.4 GW increase in interconnector capacity from Viking Link[106] - The company engaged with 50 carbon strategic suppliers in the UK and 74 in the US, accounting for over 30% of GHG emissions from purchased goods and services[109] Dividend and Shareholder Returns - The company's recommended final dividend is 39.12p, bringing the full-year dividend to 58.52p, up 5.55%[20] - The Board recommended a 5.55% increase in the final dividend to 39.12p per ordinary share, bringing the full-year dividend to 58.52p per ordinary share[188] Strategic Business Focus and Divestments - National Grid plans to sell Grain LNG and National Grid Renewables as part of its strategy to focus on networks, streamlining its business[11] - National Grid's asset base shifted to 75% electricity following the sale of a 20% stake in National Gas Transmission, up from 60% in March 2021[61] - The disposal of a further 20% interest in UK Gas Transmission generated £681 million in proceeds, contributing to the reduction in regulatory gearing[181][186] Infrastructure Projects and Upgrades - The Great Grid Upgrade plan aims to build more than five times the amount of new electricity transmission infrastructure in the next six years compared to the past 30 years[50] - National Grid's share of the £2.5 billion investment in the Eastern Green Link 1 (EGL1) project is £1.5 billion, with construction set to begin in 2025[52] - The Eastern Green Link 2 (EGL2) project involves a total investment of £4.4 billion, with National Grid contributing £2.4 billion, and will be the UK's longest HVDC cable[52] - National Grid selected seven supply chain partners for £4.5 billion worth of network infrastructure design and construction work through 2030[55] - The HVDC supply chain framework aims to secure over 14,000 kilometres of cabling with a provision for around £60 billion of investment[58] - National Grid plans to invest over $4 billion in the Upstate Upgrade project in New York, including over 1,000 miles of transmission line and 45 substations[62][63] - National Grid's share of the $2.8 billion Propel NY Energy transmission project is around $340 million[68] - The New York Energy Solution transmission line upgrade project involved a total investment of $670 million, with National Grid contributing around $100 million[69] - National Grid's Smart Path Connect project includes a $550 million investment to upgrade 55 miles of transmission circuits in Northern New York[67] - Smart Path Connect transmission project in New York to unlock over 1,000 MW of renewable resources, with a 10.3% RoE[92] - Proposed $2 billion investment over five years in Massachusetts under the Electric Sector Modernization Plan (ESMP)[93] Regulatory and Financial Metrics - Up to £58 billion investment into UK electricity transmission networks through the 2030s, with a 65% growth in Great Britain's electricity demand between 2023 and 2035[81] - Transmission connection queue in Great Britain stands at over 700 GW, significantly oversubscribed compared to ESO Future Energy Scenario requirements[83] - Introduction of 'Queue Management' clauses in connection agreements, potentially accelerating connection dates for up to 70 GW of projects[84] - Release of 10 GW of grid capacity for renewable generation assets on the UK Electricity Distribution network[85] - Removal of 95 projects totaling 2.25 GW from the distribution connection queue[86] - Proposed $924 million capital investment for KEDNY and $646 million for KEDLI in the first rate year, with a 9.35% RoE[90] - Underlying net revenue for UK Electricity Transmission is expected to increase by over £150 million in 2024/25, driven by higher allowances and indexation[132] - Underlying net revenue for New York is expected to increase by nearly $450 million in 2024/25, primarily due to proposed rate settlements[139] - Operating cash flow from continuing operations is expected to decrease by around 5% in 2024/25, primarily due to the reversal of ESO's timing over-recovery[146] - Net debt is expected to decrease by around £0.5 billion, driven by proceeds from the Rights Issue, with regulatory gearing reducing to the low 60% range[147] - Weighted average number of shares (WAV) is expected to increase by approximately 938 million to 4,688 million in 2024/25 due to the Rights Issue[148] - Timing over-recoveries in 2023/24 included £363 million in UK Electricity Transmission and £800 million in UK Electricity System Operator[165] - Deferrable storm costs in the US for 2023/24 were $285 million, eligible for future recovery under rate plans[166] - Underlying tax charge for the year was £515 million, with an underlying effective tax rate of 15.6%, 170bps lower than last year[174][175] - Cash flow generated from continuing operations was £7.3 billion, £0.8 billion higher than last year, primarily due to timing over-recoveries and higher revenues in UK Electricity Transmission and New York[178] - Net debt at the end of the year was £43.607 billion, a 6% increase from the previous year, with regulatory gearing reducing to 69%[176][186] - National Grid raised £5.6 billion of new long-term senior debt during the year to refinance maturing debt and fund its capital programme[184] - Retained cash flow as a proportion of adjusted net debt was 9.2%, with the Group maintaining strong investment grade credit ratings[187] - Group achieved asset growth of 9.7% in 2023/24, driven by capital investment and RAV indexation[193] Customer Support and Community Engagement - The company provided £11.3 million to UK partners and $1.8 million to US partners through the Energy Support Fund to assist customers affected by rising energy costs[111] - In Massachusetts, the company facilitated over $18 million in home energy assistance funding and enrolled more than 250,000 customers on income-based discount rates[112] - National Grid colleagues volunteered 77,918 hours in 2023/24, with a cumulative total of 179,480 hours since 2020, achieving 36% of the 500,000-hour target[113] Efficiency and Cost Management - £139 million of Group efficiency savings in 2023/24, exceeding the £400 million target by £113 million[101]

The program reflects the company's commitment to workforce development and employment pathways for underrepresented talent WALTHAM, Mass. and BROOKLYN, N.Y., April 24, 2024 /PRNewswire/ -- National Grid today opened applications for its "Charging Our Future" Diversity, Equity, and Inclusion (DEI) Engineering Scholarship Program. The program supports students enrolled in undergraduate engineering programs with a strong interest in energy industry careers. Now in its third year, National Grid launched the sch ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 Date: 9 November 2023 Commission File Number: 001-14958 NATIONAL GRID plc (Translation of registrant's name into English) England and Wales (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. ☒ Form 20-F ☐ Form 40-F ...

R ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) £ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR OR £ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR £ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of event requiring this shell company report For t ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 Date: 6 June 2023 Commission File Number: 001-14958 NATIONAL GRID plc (Translation of registrant's name into English) England and Wales (Jurisdiction of Incorporation) 1-3 Strand, London, WC2N 5EH, United Kingdom (Address of principal executive office) Indicate by check mark whether the registrant files or will file annua ...

National Grid plc (NYSE:NGG) Q4 2023 Earnings Conference Call May 18, 2023 4:15 AM ET Company Participants Nicholas Ashworth - Director of Investor Relations John Pettigrew - Chief Executive Andy Agg - Chief Financial Officer Conference Call Participants Jenny Ping - Citi Martin Young - Investec Harry Wyburd - Exane Jingjie Yang - UBS James Brand - Deutsche Bank Rob Pulleyn - Morgan Stanley Ruisi Liu - Bank of America Mark Freshney - Credit Suisse Pujarini Ghosh - Bernstein Dominic Nash - Barclays Ajay Pate ...

Accelerating the energy transition • 17 major transmission projects awarded by Ofgem • $3.8bn approved in the US outside of rate cases 4 Full Year Results 2022/23 nationalgrid Record capital investment £7.7bn | --- | --- | --- | --- | --- | |--------------------|-------------------------------------------------------------------------------------------------------|-------------------------------------------|--------------------------------|------------------------------| | | | | | | | World's first | 1.4 GW ...

National Grid plc (NYSE:NGG) Q2 2023 Earnings Conference Call November 10, 2022 4:45 AM ET Company Participants Nick Ashworth - Director of Investor Relations John Pettigrew - Chief Executive Officer | --- | |-------------------------------------------------| | | | Andy Agg - Chief Financial Officer | | Conference Call Participants | | Martin Young - Investec | | Mark Freshney - Credit Suisse | | Dominic Nash - Barclays | | Ahmed Farman - Jefferies Verity Mitchell - HSBC | | Jenny Ping - Citi | | James Bran ...