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: 05 October 2026
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 05 October
2026 —
Pre-Close Update Ahead of HY2026/27 Results
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Exhibit
99.1
5 October 2026
National Grid plc
Pre-Close Update Ahead of 2026/27 Half Year Results
National Grid today issues a pre-close update for the six months
ended 30 September 2026, ahead of announcing half year results on 5
November. Overall, the Group's regulated businesses continue to
perform in line with our expectations, but a strong first half
performance in National Grid Ventures & Other means we now
expect to be slightly above our FY27 EPS growth guidance of 13-15%.
As usual, underlying EPS is expected to be weighted to the second
half of the year.
The profile of half year Group operating profit is also
expected to be broadly consistent with the prior
year:
●
In
UK Electricity Transmission and UK Electricity Distribution, we
anticipate operating profit to be broadly evenly split across the
year, consistent with FY26.
●
In
our US regulated businesses, operating profits are expected to be
weighted to the second half in line with the usual seasonality. In
New England, we expect a return to a more typical seasonality
profile following the one-off impact of the FERC RoE judgement in
the second half of FY26.
●
National
Grid Ventures & Other activities is expected to deliver
c.£130 million of additional performance in the first half
relative to our expectations, reflecting significant one-off fair
value gains following two successful capital market transactions
within the NG Partners investment portfolio and stronger
performance in our interconnectors business.
Closing half year net debt is expected to be broadly in line with
our guidance for the full year after updating for the impact of the
Joulent investment and reflecting the weighting of operating cash
flows to the second half.
Our half year results will be announced on Thursday, 5 November
2026.
Enquiries and contacts
Investors and Analysts:
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Andrew
Downey
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+44 (0) 7926 285 683
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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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Illtud
Harri
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+44 (0) 7920 503 600
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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 announcement also references
sustainability-related targets and sustainability-related risks
(including 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, including affordability considerations, 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,
including AI; the risk that global actions may not be effective in
transitioning to net zero and in managing relevant ESG risks,
including in particular climate, nature-related and human rights
risks; 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, which may result in the
Company’s failure to achieve the expected benefits of its
strategic priorities; 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 its strategic infrastructure projects and joint venture
investments. 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 227 to 231 of National Grid’s Annual
Report and Accounts for the year ended 31 March 2026. 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.
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:
05 October
2026
