Company: NEWEN
Filing Date: 2025-05-15
Form Type: 6-K
Source: 0001654954-25-005651
Chunk: 69

Company: NATIONAL GRID PLC
Filing Date: 2025-05-15
Form: 6-K
Chunk 69
---
 exceptional items and remeasurements after tax from        
 continuing and discontinued operations                           |                                                                6.0 | -20.6 |       |                                                                6.0 | -20.6 |
| Total Group EPS from continuing and discontinued                 
 operations                                                       |                                                               61.6 |  57.4 |       |                                                               79.3 |  51.8 |

1. Comparative amounts have been restated to reflect the impact of the bonus element of the Rights Issue.

#### Timing impacts
Under the Group's regulatory frameworks, the majority of the revenues that National Grid is allowed to collect each year are governed by a regulatory price control or rate plan. If we collect more than the allowed revenue, adjustments will be made to future prices to reflect this over-recovery, and if we collect less than the allowed level of revenue, adjustments will be made to future prices to reflect the under-recovery. A number of costs in the UK and the US are pass-through costs (including commodity and energy efficiency costs in the US) and are fully recoverable from customers. Timing differences between costs of this type being incurred and their recovery through revenues are also included in over and under-recoveries. In the UK, timing differences include an estimation of the difference between revenues earned under revenue incentive mechanisms and associated revenues collected. UK timing balances and movements exclude adjustments associated with changes to controllable cost (totex) allowances or adjustments under the totex incentive mechanism. Opening balances of over and under-recoveries have been restated where appropriate to correspond with regulatory filings and calculations. New England and New York in-year over/(under)-recovery and all New England and New York balances have been translated using the average exchange rate of $1.26 for the year ended 31 March 2025.

|                                  |                       UK 
 Electricity Transmission 
                       £m |                       UK 
 Electricity Distribution 
                       £m |                          UK 
 Electricity System Operator 
                          £m |     New 
 England 
      £m |  New 
 York 
   £m | Continuing 
         £m | Discontinued 
 £m           | Total 
    £m |
| 1 April 2024 opening balance1    |                      160 |                     -282 |                         941 |    -452 |  662 |      1,029 | -            | 1,029 |
| (Under)/over-recovery            |                     -151 |                      407 |                        -479 |      61 | -343 |       -505 |