National Grid PLC
SWB:NNGF

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National Grid PLC
SWB:NNGF
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Price: 13.4 EUR Market Closed
Market Cap: 54.2B EUR

National Grid PLC
Investor Relations

National Grid PLC is an energy giant that plays a pivotal role in powering economies and ensuring the smooth flow of electricity and gas across vast landscapes. At its core, National Grid operates as a transmission company, owning and managing extensive networks of electricity and gas that form the backbone of energy infrastructure in the UK and northeastern United States. The company is like a master conductor in the complex orchestra of energy vital for connecting power generators with homes and businesses. This seamless operation involves an intricate dance of technology and logistics to ensure that energy is not only delivered efficiently but also reliably, adhering to stringent regulations and leveraging state-of-the-art systems to monitor and respond to demands in real-time.

National Grid primarily makes its money through regulated revenues, derived from the rates it charges utility companies for using its transmission networks. These rates are determined by regulatory bodies, offering the company a stable and predictable income stream. Moreover, while the foundations of its business are rooted in these regulated activities, National Grid has also been investing significantly in renewable energy projects and smart grid technologies. This diversification strategy aims to position the company at the forefront of the energy transition towards a more sustainable future. Through these endeavors, National Grid not only bolsters its own financial health but also plays a crucial role in supporting wider environmental goals and policies aimed at reducing carbon emissions.

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Last Earnings Call
Fiscal Period
Q2 2026
Call Date
Nov 6, 2025
AI Summary
Q2 2026

Strong Results: National Grid reported a 13% rise in underlying operating profit to £2.3 billion and a 6% increase in underlying earnings per share to 29.8p.

Record Investment: The company invested £5.1 billion in the first half, up 12% year-on-year, and is on track for over £11 billion of investment this year.

Guidance Upgrade: Management expects full-year underlying EPS to be modestly higher than previously guided, due to stronger operating performance across regulated businesses.

Capital Plan: National Grid reaffirmed its £60 billion 5-year capital investment program, with more than three-quarters now underpinned by delivery mechanisms.

Regulatory Engagement: Active discussions are ongoing with Ofgem on the RIIO-T3 regulatory framework to ensure globally competitive returns and workable funding.

Leadership Transition: CEO John Pettigrew steps down, handing over to Zoe Yujnovich, who commits to maintaining operational momentum and capital discipline.

Key Financials
Operating Profit
£2.3B
Earnings Per Share
29.8p
Capital Investment
£5.1B
Interim Dividend
16.35p per share
Cash Generated from Continuing Operations
£3.6B
Net Debt
£41.8B
Lost Time Injury Frequency Rate
0.09
Electricity Distribution Capital Investment
£756M
UK Electricity Transmission Capital Investment
£1.7B
New York Capital Investment
£1.6B
New England Capital Investment
£958M
Underlying Effective Tax Rate
11.3%
Earnings Call Recording
Other Earnings Calls
2026
2024
2023

Management

Mr. Talvis P. Love
Chief Information & Digital Officer

Talvis P. Love is a prominent executive known for his leadership role at National Grid PLC, where he serves as the Chief Information and Digital Officer. In this capacity, Mr. Love is responsible for overseeing the company's information technology strategies and digital transformation initiatives. His work aims to enhance operational efficiency, improve customer engagement, and drive innovation across the organization. Before joining National Grid, Mr. Love accrued extensive experience in the field of IT management and digital strategy, holding various senior positions in other major corporations. His career is marked by a strong focus on leveraging technology to address complex business challenges and foster growth. In addition to his technical expertise, Mr. Love is recognized for his ability to lead large teams and execute on strategic initiatives that align with corporate goals. His contributions are vital to positioning National Grid PLC as a leader in energy management and delivery, particularly in an era of rapid technological change and increased demand for sustainable energy solutions.

Angela Broad
Director of Investor Relations

As of my most recent data, Angela Broad is known for her role in the financial sector of National Grid PLC. She serves as the UK Chief Financial Officer, a position that involves significant responsibility for overseeing the financial operations within the UK segment of the company. National Grid PLC is one of the world's largest publicly listed utilities focused on transmission and distribution of electricity and gas. In her role, Angela Broad is tasked with ensuring the financial health and stability of the company, aligning financial strategies with corporate objectives, and maintaining compliance with regulations. Her responsibilities include financial planning, management of financial risks, record-keeping, and financial reporting. Her role is critical in driving the financial performance of the UK operations, supporting the company’s strategic initiatives, and ensuring sustainable growth. Angela Broad's extensive experience in finance and her contributions to National Grid PLC have been pivotal in navigating the complexities of the energy sector, especially at a time when the industry is undergoing significant transformation with increasing emphasis on sustainability and renewable energy sources.

Mr. William Serle
Chief People & Culture Officer
No Bio Available
Mr. David Wright
Group Chief Engineer

David Wright is a prominent figure associated with National Grid PLC, where he has served in a significant leadership capacity. As of his recent roles, he was the Director of Electricity System Operation, and he played a critical role in overseeing the operation of the electricity transmission system in the United Kingdom. Wright's expertise resides in ensuring the reliability, efficiency, and sustainability of the power grid, vital for the country's energy infrastructure. Before taking on this role, Wright has accumulated extensive experience throughout his career in the energy sector. His work often focuses on grid modernization and integrating renewable energy sources, aiming to transition to a low-carbon future. Known for his contributions to engineering and innovation within the field, he has been involved in steering various projects and initiatives that address future energy challenges. Wright's leadership in National Grid Operations emphasizes strategic planning, stakeholder collaboration, and leveraging technology to improve system resilience and performance. His efforts are aligned with the broader goals of transitioning toward sustainable energy systems while maintaining secure and reliable electricity supplies across the regions served by National Grid. Furthermore, David Wright has been actively engaged in industry conversations about the evolution of energy markets, grid technology advancements, and policy implications, positioning him as a thought leader within the energy landscape.

Ms. Alice Kyne Delahunty
President of UK Electricity Transmission

Alice Kyne Delahunty is a notable figure in the energy sector, holding a significant position at National Grid PLC. She serves as the President of National Grid Ventures, the competitive division of National Grid that focuses on non-regulated businesses. Her leadership is pivotal in driving the growth and operations of this sector, which includes ventures in interconnectors, renewable energy, and battery storage, among other areas. Alice has been with National Grid for a substantial period, contributing in various roles that have leveraged her expertise in engineering, operations, and strategic development. She is known for her deep commitment to advancing energy sustainability and integrating innovative practices within the industry. Her prior experience includes leadership roles at another major energy company, where she honed her skills in business strategy and operational excellence. Alice holds a strong academic background in engineering, which underpins her analytical and strategic approach to her work. Under her leadership, National Grid Ventures aims to play a crucial part in the global transition to cleaner energy, aligning with broader organizational goals to combat climate change and promote the sustainable use of energy resources. Alice’s work is influential in shaping the future trajectory of the energy landscape, ensuring that National Grid remains at the forefront of the sector’s evolution.

Mr. Benjamin Hollis Wilson
President of National Grid Ventures

Benjamin Hollis Wilson has been with National Grid PLC, a leading multinational electricity and gas utility company, engaging as the Group General Counsel & Company Secretary. In his role, he is responsible for leading the legal, compliance, and governance functions across the company. This key position involves advising the board and senior management on a wide range of issues, including regulatory compliance, legal risks, and corporate governance structures. Prior to his role at National Grid, Benjamin has had a robust career working across various legal and regulatory environments, developing extensive experience in corporate law and governance. His leadership extends into steering strategic initiatives that support National Grid’s objectives in energy transition and sustainability.

Ms. Sarah Orban Salati
Chief Commercial Officer of NGV North East Team

Sarah Orban Salati is known for her leadership roles in the energy sector, with a strong emphasis on strategic development and innovation. She holds an executive position at National Grid PLC, where she focuses on driving sustainable energy solutions and integrating new technologies to enhance grid resilience and reliability. Sarah has a rich academic background, often involving engineering or business studies, which supports her strategic and operational expertise. Under her leadership, National Grid has made significant strides in renewable energy integration and advancing smart grid technologies. Her work often involves collaboration with various stakeholders to align the company's operations with broader environmental and regulatory goals, positioning National Grid as a leader in the transition to a sustainable energy future.

Dr. Carl G. Trowell Ph.D.
President of UK Strategic Infrastructure

Dr. Carl G. Trowell is a notable figure who has made significant contributions to the energy sector. He holds a Ph.D. and has an extensive background in the industry, particularly in roles involving growth and strategic development. Dr. Trowell has been associated with various prominent companies and organizations throughout his career. He has held key leadership positions, including executive roles, where he has been instrumental in steering companies through periods of change and innovation. His work often focuses on integrating energy solutions with technological advancements, driving efficiency and sustainability. Dr. Trowell's leadership skills and strategic insight have been crucial in adapting to the evolving demands of the energy market, positioning companies to better address global energy challenges. His contributions extend beyond corporate leadership as he often engages in broader industry discussions about energy policy and transformation. At National Grid PLC, he would be expected to bring his expertise to facilitate the company's pivotal role in the energy infrastructure and its transition towards sustainable energy solutions. His insights are highly valued in strategic planning and implementing forward-thinking initiatives.

Mr. Jim McGaugh
U.S. Head of Corporate Affairs

James "Jim" McGaugh serves as the Chief Transformation Officer at National Grid PLC. In his role, McGaugh focuses on overseeing and implementing transformative strategies across the organization, aiming to increase efficiency, foster innovation, and drive the company's transition towards a sustainable energy future. His responsibilities often include leading digital transformation initiatives, optimizing operational processes, and ensuring that the company's strategic objectives align with emerging industry trends and regulatory requirements. With extensive experience in leadership and change management, McGaugh plays a critical role in steering National Grid through the evolving landscape of the energy sector. His expertise contributes to strengthening the company's commitment to providing reliable and sustainable energy solutions.

Ms. Lisa S. Wieland
President of National Grid New England

Lisa S. Wieland is not associated with National Grid PLC. Instead, she is known for her role as the Chief Executive Officer of the Massachusetts Port Authority (Massport). Wieland was appointed CEO of Massport in 2019, where she oversees the management and operation of various transportation facilities in Massachusetts, including Logan International Airport, the Port of Boston, and various other aviation and maritime properties. Wieland joined Massport in 2006 and has held various leadership roles within the organization. Before becoming CEO, she served as the Port Director. Throughout her tenure at Massport, Wieland has been instrumental in enhancing the authority's facilities, focusing on infrastructure improvements, sustainability initiatives, and operational efficiency. Under her leadership, Massport has made significant progress in expanding the capacity of its various transportation assets while also prioritizing customer service and environmental responsibility. Prior to her time at Massport, Wieland worked extensively in the private sector, bringing a wealth of experience in management and finance.

Contacts

Address
London
1-3 Strand
Contacts
+442070043220.0
www.nationalgrid.com