Company: NEWEN
Filing Date: 2025-05-15
Form Type: 6-K
Source: 0001654954-25-005651
Chunk: 75

Company: NATIONAL GRID PLC
Filing Date: 2025-05-15
Form: 6-K
Chunk 75
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 11,954 |    11,633 |
| UK Electricity System Operator                     |                                        - |    425 |     |                  - |      -466 |
| New England                                        |                                    9,422 |  8,512 |     |             11,329 |    10,325 |
| New York                                           |                                   17,923 | 16,015 |     |             19,752 |    17,029 |
| Total regulated                                    |                                   60,150 | 54,837 |     |             63,325 |    56,407 |
| National Grid Ventures and other business balances |                                    7,352 |  7,509 |     |              5,942 |     6,533 |
| Total Group regulated and other balances           |                                   67,502 | 62,346 |     |             69,267 |    62,940 |

1. Figures relating to prior periods have, where appropriate, been re-presented at constant currency, for segmental reorganisation, opening balance adjustments following the completion of the UK regulatory reporting pack process and finalisation of US balances.

2. Includes totex-related regulatory IOUs of £250 million (2024: £514 million) and over-recovered timing balances of £63 million (2024: £744 million over-recovered).

3. Includes assets for construction work-in-progress of £2,528 million (2024: £2,021 million), other regulatory assets related to timing and other cost deferrals of £1,113 million (2024: £1,250 million) and net working capital assets of £95 million (2024: £445 million net working capital liabilities).

New England and New York rate base and other total regulated and other balances for 31 March 2024 have been re-presented in the table above at constant currency. At actual currency the values were £10.6 billion and £17.4 billion respectively.

#### Group return on equity (RoE)
Group RoE provides investors with a view of the performance of the Group as a whole compared with the amounts invested by the Group in assets attributable to equity shareholders. It reflects the regulated activities as well as the contribution from our non-regulated businesses together with joint ventures and non-controlling interests. We use Group RoE to measure our performance in generating value for our shareholders, and targets for Group RoE are included in APP and LTPP incentive mechanisms for Executive members. Group