Company: NEWEN
Filing Date: 2025-11-06
Form Type: 6-K
Source: 0001654954-25-012622
Chunk: 7

Company: NATIONAL GRID PLC
Filing Date: 2025-11-06
Form: 6-K
Chunk 7
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 2 projects with the New York Public Service Commission (PSC). We expect the first round of permit approvals by the end of 2025, with the remaining approvals in 2026 (Phase 1 remains on track for delivery by 2029; we are reviewing the final bids for Phase 2 projects to progress towards contract); and

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agreed 10 partners for a new strategic procurement framework in Massachusetts covering transmission and distribution lines, EPC contract awards and substation work. In total, the framework is expected to cover over $3 billion of contract awards over the next five years.

The visibility we now have in our investment plans makes us a partner of choice for our supply chain. These partnerships foster a longer-term collaborative approach that builds stronger supply chains, encourages long term investment, and supports the development of local skills and capabilities.

#### Regulatory, policy and market environment
In the UK, we have noted the policy progress seen across a number of critical areas, and we continue to work towards the RIIO-T3 price control which will run for five years from April 2026.

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In August, we submitted our response to Ofgem’s RIIO-T3 Draft Determinations. We welcomed the commitment to an £80 billion investment plan across the electricity transmission sector and the changes made by Ofgem to the financial package since the Sector Specific Methodology Decision (SSMD). However, the Draft Determination did not sufficiently recognise the practical realities of delivering the biggest expansion of the electricity system in more than a generation. We therefore submitted evidence and solutions for the changes required to achieve a framework that is investable (including changes to the baseline level of return and appropriate incentives) and workable (such as streamlining the process for agreeing uncertainty mechanisms). Our business plan submitted in December 2024 includes up to £35 billion of totex over the five years to March 2031, and, amongst other outcomes, is expected to nearly double the power that can flow across the country, avoid £12 billion of constraint costs, directly connect 35 GW of generation and 19 GVA of demand to our network and create optionality for a further 26 GW, all while delivering 99.9999% reliability. We are continuing to engage with Ofgem to agree a price control that attracts the investment needed to ensure the delivery of this plan. We expect the Final Determination in early December and we anticipate that we will make a final decision on whether to accept or appeal the licence modifications implementing the Final