NATIONAL GRID PLC SEC Filings

National Grid plc reported stronger half-year performance driven by regulated investment on both sides of the Atlantic. Underlying operating profit was £2,292 million, up 12% at actual currency (13% at constant currency), and statutory operating profit rose 17% to £1,526 million. Underlying EPS increased 6% to 29.8p. The Board declared an interim dividend of 16.35p per share. Capital investment reached a record £5,052 million in the half, supporting UK transmission projects and US grid upgrades; net debt stood at £41.8 billion as of 30 September 2025.

Management reiterated its five‑year plan to invest around £60 billion, targeting Group asset growth of about 10% CAGR and underlying EPS CAGR of 6–8% from a 73.3p 2024/25 baseline. During the period, regulators approved NIMO’s three‑year rate case in New York and about $600 million under Massachusetts’ ESMP, with approximately 75% of the US five‑year investment already approved. The company expects to invest over £11 billion in 2025/26 and modestly raised FY2026 guidance. CEO succession is set for November 2025, with Zoë Yujnovich succeeding John Pettigrew.

National Grid plc furnished a Form 6-K announcing that its accompanying Exhibit 99.1—an announcement sent to the London Stock Exchange titled “National Grid 2025/26 Half Year Results Statement”—has been provided.

The report and Exhibit 99.1 are incorporated by reference into the company’s registration statements on Form F-3 and Form S-8, becoming part of those filings from the date of submission, to the extent not superseded by later filings. The company notes the filing date as 6 November 2025.

National Grid plc furnished a Form 6-K updating its share capital and voting rights and disclosing routine PDMR share purchases. As of 30 September 2025, registered capital was 5,191,884,002 ordinary shares, including 230,434,106 held in treasury, leaving 4,961,449,896 shares with voting rights for disclosure calculations.

PDMR transactions on the London Stock Exchange on 7 October 2025 under the Share Incentive Plan: CFO Andy Agg bought 14 shares at GBP 10.835; CEO John Pettigrew bought 13 shares at GBP 10.835; and Chief People Officer Will Serle bought 14 shares at GBP 10.835.

National Grid plc filed a 6-K attaching three London Stock Exchange announcements: a Voting Rights update, a Notification of PDMR transactions and publication of a Prospectus. The Voting Rights notice states the company had 5,191,884,002 ordinary shares as of 31 July 2025, of which 230,653,898 were treasury shares, leaving 4,961,230,104 shares with voting rights to be used as the denominator for FCA disclosure calculations. The Prospectus relates to a €20,000,000,000 Euro Medium Term Note Programme and has been submitted to the National Storage Mechanism; a link to the published PDF is provided.

National Grid plc has submitted its response to Ofgem's RIIO-ET3 Draft Determination, welcoming the regulator's commitment to an £80 billion electricity transmission investment plan and changes to the financial package since the Sector Specific Methodology Decision. The company says the Draft Determination does not fully recognise the practical challenges of delivering a two-and-a-half-fold increase in transmission investment and has proposed changes to ensure the final framework is investable—by improving baseline returns and incentives—and workable—by simplifying funding mechanisms and reopener decision-making. National Grid will continue engagement with Ofgem ahead of the Final Determination in December and points to an executive summary of detailed responses on its RIIO-T3 homepage. The announcement includes a standard cautionary statement about forward-looking statements and risks.

National Grid has agreed to sell its Grain LNG business to a consortium including Centrica plc and Energy Capital Partners (part of Bridgepoint). The terms comprise total proceeds of approximately £1.66 billion, including a pre-completion dividend, with the final consideration subject to customary completion adjustments.

The company says the sale advances its previously communicated strategy to streamline the business and focus on networks. Grain LNG, held through two wholly owned subsidiaries, owns and operates the UK’s largest LNG importation terminal under long-term take-or-pay contracts and is described as playing an important role in securing UK gas supply. Completion is subject to customary government and regulatory approvals and, subject to clearances, is expected to occur later this year.

National Grid plc (NGG) has filed a Form 6-K outlining the share issuance connected to its FY 2024/25 final dividend scrip alternative. The company has applied to the FCA and the London Stock Exchange for 59,266,294 new ordinary shares to be admitted to the Official List and to trading. Dealings and dividend payment are scheduled for 17 July 2025 and the new stock will rank pari passu with existing shares.

Under the Scrip Dividend Scheme, 58,457,054 ordinary shares will be allotted at 1,040.40 p per share, while 161,848 American Depositary Receipts—equivalent to 809,240 ordinary shares—will be issued to US holders at US$70.3102 per ADR. The programme allows shareholders to receive equity in lieu of cash, supporting the company’s liquidity but increasing the overall share count. No earnings, cash-flow data, or forward guidance accompanies the filing.