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: 02 October 2025
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 annual
reports under cover of Form 20-F or Form 40-F.
☒ Form 20-F ☐ Form 40-F
Indicate
by check mark if the registrant is submitting the Form 6-K in paper
as permitted by Regulation S-T Rule
101(b)(1): ☐
Indicate
by check mark if the registrant is submitting the Form 6-K in paper
as permitted by Regulation S-T Rule
101(b)(7): ☐
Indicate
by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information
to the Commission pursuant to Rule 12g3- 2(b) under the Securities
Exchange Act of 1934. ☐ Yes ☒ No
If
“Yes” is marked, indicate below the file number
assigned to the registrant in connection with Rule 12g3-2(b):
n/a
EXHIBIT INDEX
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Exhibit No.
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Description
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99.1
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Exhibit
99.1 Announcement sent to the London Stock Exchange on 02 October
2025 —
Pre-Close Update Ahead of HY 2025/26 Results
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Exhibit
99.1
2 October 2025
National Grid plc
Pre-Close Update Ahead of 2025/26 Half Year Results
National Grid today issues a pre-close update for the six months
ended 30 September 2025 ahead of announcing half year results on 6
November. Overall, the group's performance is in line with our
expectations and, as usual, underlying EPS is expected to be
weighted to the second half of the year.
The profile of half year operating profit is also
expected to be broadly consistent with
historical periods:
● In UK Electricity Transmission and UK
Electricity Distribution, we anticipate operating profit to be
broadly evenly split across the year. As a reminder, H1 of FY25
included the contribution from the Electricity System Operator
before it was sold on 1 October 2024.
● In our US regulated businesses, operating
profits are expected to be weighted to the second half. Relative to
the same period last year there have been fewer storms in our New
York business, as well as new electricity distribution rates in our
New England business. As such, we
expect a slightly higher contribution to operating profit
from both businesses in the first half relative to the profile last
year.
● In National Grid Ventures we expect a
roughly even weighting of profitability across the
year.
Our half year results will be announced on Thursday, 6 November
2025.
Enquiries and contacts
Investors and Analysts:
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Angela
Broad
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+44 (0)
7825 351 918
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Tom
Edwards
Cerys
Reece
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+44 (0)
7976 962 791
+44 (0)
7860 382 264
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Media:
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Dan Roberts, Brunswick
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+44 (0) 207 404 5959
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CAUTIONARY STATEMENT
This announcement contains certain statements that are neither
reported financial results nor other historical information. These
statements are forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. These
statements include information with respect to National Grid's (the
Company) financial condition, its results of operations and
businesses, strategy, plans and objectives. Words such as 'aims',
'anticipates', 'expects', 'should', 'intends', 'plans', 'believes',
'outlook', 'seeks', 'estimates', 'targets', 'may', 'will',
'continue', 'project' and similar expressions, as well as
statements in the future tense, identify forward-looking
statements. This document also references climate-related targets
and climate-related risks which differ from conventional financial
risks in that they are complex, novel and tend to involve
projection over long term scenarios which are subject to
significant uncertainty and change. These forward-looking
statements and targets are not guarantees of National Grid's future
performance and are subject to assumptions, risks and uncertainties
that could cause actual future results to differ materially from
those expressed in or implied by such forward-looking statements
and targets. Many of these assumptions, risks and uncertainties
relate to factors that are beyond National Grid's ability to
control or estimate precisely, such as changes in laws or
regulations and decisions by governmental bodies or regulators,
including those relating to current and upcoming price controls in
the UK and rate cases in the US; the timing of construction and
delivery by third parties of new generation projects requiring
connection; breaches of, or changes in, environmental, climate
change and health and safety laws or regulations, including
breaches or other incidents arising from the potentially harmful
nature of its activities; network failure or interruption, the
inability to carry out critical non-network operations and damage
to infrastructure, due to adverse weather conditions including the
impact of major storms as well as the results of climate change,
due to counterparties being unable to deliver physical commodities;
reliability of and access to IT systems, including due to the
failure of or unauthorised access to or deliberate breaches of
National Grid's systems and supporting technology; failure to
adequately forecast and respond to disruptions in energy supply;
performance against regulatory targets and standards and against
National Grid's peers with the aim of delivering stakeholder
expectations regarding costs and efficiency savings, as well as
against targets and standards designed to support its role in the
energy transition; and customers and counterparties (including
financial institutions) failing to perform their obligations to the
Company. Other factors that could cause actual results to differ
materially from those described in this announcement include
fluctuations in exchange rates, interest rates and commodity price
indices; restrictions and conditions (including filing
requirements) in National Grid's borrowing and debt arrangements,
funding costs and access to financing; regulatory requirements for
the Company to maintain financial resources in certain parts of its
business and restrictions on some subsidiaries' transactions such
as paying dividends, lending or levying charges; the delayed timing
of recoveries and payments in National Grid's regulated businesses,
and whether aspects of its activities are contestable; the funding
requirements and performance of National Grid's pension schemes and
other post-retirement benefit schemes; the failure to attract,
develop and retain employees with the necessary competencies,
including leadership and business capabilities, and any significant
disputes arising with National Grid's employees or breaches of laws
or regulations by its employees; the failure to respond to market
developments, including competition for onshore transmission; the
threats and opportunities presented by emerging technology; the
failure by the Company to respond to, or meet its own commitments
as a leader in relation to, climate change development activities
relating to energy transition, including the integration of
distributed energy resources; and the need to grow the Company's
business to deliver its strategy, as well as incorrect or
unforeseen assumptions or conclusions (including unanticipated
costs and liabilities) relating to business development activity,
including the proposed sale of certain of its businesses, its
strategic infrastructure projects and joint ventures. For further
details regarding these and other assumptions, risks and
uncertainties that may affect National Grid, please read the
Strategic Report section and the 'Risk factors' on pages 210 to 215
of National Grid's Annual Report and Accounts for the year ended 31
March 2025 published on 29 May 2025. In addition, new factors
emerge from time to time and National Grid cannot assess the
potential impact of any such factor on its activities or the extent
to which any factor, or combination of factors, may cause actual
future results to differ materially from those contained in any
forward-looking statement. Except as may be required by law or
regulation, the Company undertakes no obligation to update any of
its forward-looking statements, which speak only as of the date of
this announcement. This announcement is for informational purposes
only and does not constitute an offer to sell or the solicitation
of an offer to buy any securities. The securities mentioned herein
have not been, and will not be, registered under the Securities Act
or the securities laws of any state or other jurisdiction, and may
not be offered or sold in the United States absent registration or
an applicable exemption from registration requirements. No public
offering of securities is being made in the United
States.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned, thereunto duly
authorized.
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NATIONAL GRID
plc
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By:
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Beth Melges
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Beth Melges
Head of Plc Governance
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Date: 02
October 2025
