Company: NEWEN
Filing Date: 2025-11-06
Form Type: 6-K
Source: 0001654954-25-012622
Chunk: 35

Company: NATIONAL GRID PLC
Filing Date: 2025-11-06
Form: 6-K
Chunk 35
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PI – UK past service | 2.81%             | 2.99%         |

The movement in the net pensions and other post-retirement benefit (OPEB) obligations position in the period can be analysed as follows:

|                                                     | 30 September 2025 | 30 September 2024 |
|                                                     |                £m |                £m |
| Opening net defined benefit asset                   |             1,916 |             1,814 |
| Cost recognised in the income statement             |               -25 |               -29 |
| Employer contributions                              |                62 |                81 |
| Remeasurements and foreign exchange                 |               260 |                18 |
| Other movements                                     |                 2 |                -9 |
| Adjustments for restrictions on the defined benefit 
 asset                                               |              -140 |                 — |
| Closing net defined benefit asset                   |             2,075 |             1,875 |

The pension and OPEB surpluses in both the UK and the US of £1,041 million and £1,383 million respectively (31 March 2025: £1,179 million and £1,310 million) continue to be recognised as assets under IFRIC 14 as explained on page 216 of the Annual Report and Accounts for the year ended 31 March 2025. The pension and OPEB surpluses are presented net of an irrecoverable surplus of £221 million (31 March 2025: £77 million) related to one OPEB plan. The economic benefit from reductions in future contributions to the plan is not sufficient to cover the surplus and this plan does not have an unconditional right to a refund of surplus assets in the event of a winding up without incurring significant tax charges.

#### 13. Commitments and contingencies
At 30 September 2025, there were commitments for future energy purchase agreements of £13,649 million (31 March 2025: £13,880 million) and future capital expenditure contracted but not provided for in relation to the acquisition of property, plant and equipment of £6,520 million (31 March 2025: £4,949 million).

We also have contingencies in the form of certain guarantees and letters of credit. These are described in further detail in note 30 to the Annual Report and Accounts for the year ended 31 March 2025.

#### Legal and regulatory proceedings
Through the ordinary course of our operations, we are party