Company: NEWEN
Filing Date: 2025-11-06
Form Type: 6-K
Source: 0001654954-25-012622
Chunk: 3

Company: NATIONAL GRID PLC
Filing Date: 2025-11-06
Form: 6-K
Chunk 3
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Constant currency calculated using current year average exchange rate of $1.353 (2024: actual average exchange rate was $1.296). See pages 48 to 51 for details.

The notation ‘n/m’ is used throughout this section where the period on period percentage change is deemed to be ‘not meaningful’.

### Strategic overview
**Safety and operational performance: Retained focus on reliability and resilience**

As at 30 September 2025 National Grid’s rolling 12-month Lost Time Injury Frequency Rate (LTIFR)* stood at 0.09, compared to 0.10 in 2024/25 and against our Group target of 0.10. Our businesses continue to focus on promoting a culture of safety excellence, with additional risk-based training, leadership led safety moments, attention on ongoing reporting of near misses, and incidents and embedding learnings from previous incidents.

National Grid has delivered strong reliability across our UK and US networks in the first half of the year. Our interconnector fleet performed well, with availability at 90%.

On 2 July 2025 NESO published their report into the incident at our North Hyde electrical substation in March 2025 and Ofgem announced they were commencing an investigation. We support the recommendations in the report and are cooperating with the ongoing Ofgem investigation. We have taken further action since the fire and continue to work with the government, regulator and industry partners on implementing learnings from this incident.

In New England and New York, we further deployed our Fault Location, Isolation and Service Restoration (FLISR) digital technology with 27% and 11% respectively of our electric customers now covered by this automation technology, which works to restore power to customers within one minute, avoiding longer power outages. This automated restoration has reduced customer outages by around 3% across our US businesses year to date.

*** Employee and contractor lost time injury frequency rate per 100,000 hours worked.

Financial performance: Continued delivery in line with financial framework**

For detailed financial performance commentary, please refer to the Financial Review section on page 12 . Our statutory operating profit is presented on page 3 which includes the impact of exceptional items, remeasurements, major storms and timing. A reconciliation between Statutory performance and our Alternative Performance Measures (APMs) is presented on page 49 .

The Group’s financial performance in H1 2025/26 continued to demonstrate the resilience of our business model which enables us to effectively manage the impacts of inflation and cost pressures