Company: NEWEN
Filing Date: 2025-05-15
Form Type: 6-K
Source: 0001654954-25-005651
Chunk: 9

Company: NATIONAL GRID PLC
Filing Date: 2025-05-15
Form: 6-K
Chunk 9
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, however planning and connections reform is required to deliver this plan and we have seen some progress in these areas.

■ In March 2025, the UK Government published the Planning and Infrastructure Bill with proposals that could both reduce the risk of delays and potentially accelerate energy infrastructure projects, as well as improve the acceptability of projects for the local communities they impact (alongside the separately published guidance on wider community benefits). Whilst we expect the proposals' impact within our five-year frame to be limited, there are some important measures in the bill that have the potential to further de-risk projects.

■ In April 2025, we saw Ofgem's decision on connections for a new process that reforms the existing queue to prioritise those projects that are most ready and needed to meet the country's clean power targets. This will deliver a rationalised queue of projects aligned to the clean power plan.

■ In April 2025, we welcomed Ofgem's decision on the framework for the RIIO- ED3 price control, which will run for five years from April 2028. Ofgem has been clear on the critical role electricity distribution networks, like our UK Electricity Distribution business, will play in achieving regional growth, resilient networks, and a clean power system. We agree

with Ofgem that there is need for a longer-term, proactive approach to network planning whilst balancing resilience and capacity with affordability. We will continue to work closely with Ofgem and engage meaningfully with our customers and stakeholders as we develop our ED3 plan.

■ There has also been development in policies governing Offshore Hybrid Assets (OHA) with Ofgem approving the establishment of the regulatory regime for OHA Pilot Scheme projects in April 2025.

#### Delivering as a Responsible Business
In May 2024, we published our updated Climate Transition Plan (CTP). The plan sets out our actions to deliver our Group greenhouse gas reduction targets by 2050, including how we will meet them and where we need support from others. We put the plan to an advisory vote at our AGM in July 2024, where it received 99% support from voting shareholders.

In 2024/25, our Scope 1 and 2 emissions increased by 8.3%, or a 4.4% reduction against the 2018/19 baseline, largely due to circumstances outside of National Grid's control as our Long Island generation facilities in the US fulfilled contractual obligations with LIPA, and a temporary surge in demand resulting from an unplanned