Company: NEWEN
Filing Date: 2025-05-15
Form Type: 6-K
Source: 0001654954-25-005651
Chunk: 10

Company: NATIONAL GRID PLC
Filing Date: 2025-05-15
Form: 6-K
Chunk 10
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 maintenance outage at a third-party power plant. Our total Scope 3 GHG emissions increased by 3.8% year-on-year. Against our SBTi approved target (which excludes sold electricity) our Scope 3 GHG emissions have increased by 5.8% since 2018/19. This was principally driven by emissions linked to higher annual spend in relation to purchased goods and services (including capital investment) within our supply chain for the construction of new energy infrastructure. We did not expect a linear trajectory, as explained in our CTP, and this performance demonstrates the technical dependencies as well as policy and regulatory frameworks required to support our emission reduction plans and targets.

As we delivered another record year of capital investment, we also reached a higher proportion of green capital investment at 81% of Group capital expenditure [3] , with £7.7 billion aligned with EU Taxonomy principles for sustainable investment in 2024/25. This is an increase from £6.0 billion or 78% of Group capital expenditure in 2023/24. The increase is due to investments in key infrastructure projects supporting the energy transition, including a 35% increase in electricity network investments and a 16% increase in leak-prone pipe replacements across our gas networks.

In the face of affordability challenges, we continue to support our customers through payment assistance programmes, flexible payment plans and energy efficiency solutions. In February 2025, we announced a new Grid for Good Energy Affordability Fund. This £13.8 million programme will support UK and US households that are struggling with energy costs over a three-year period. The continued strong performance of our interconnector portfolio enabled the return of a further £89 million to UK consumers this year, part of a total of £277 million returned to reduce customer bills in the last two years, with a further £149 million to be returned over the next two years resulting in a total benefit to customers of £426 million.

### Five-year financial framework
Our five-year financial framework is based on our continuing businesses, as defined by IFRS, which included the ESO until its disposal in October 2024 and includes Grain LNG and National Grid Renewables until their planned disposals. It excludes the minority stake in National Gas Transmission, which was classified as a discontinued operation until its disposal in September 2024. The five-year financial framework assumes an exchange rate of £1:$1.25.

#### Capital investment and asset growth
We expect to invest around £60 billion across our energy networks