Company: NEWEN
Filing Date: 2025-11-06
Form Type: 6-K
Source: 0001654954-25-012622
Chunk: 22

Company: NATIONAL GRID PLC
Filing Date: 2025-11-06
Form: 6-K
Chunk 22
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 At constant currency |       |
|                               | 2025 |                     2024 | % change |       | 2024 |             % change |       |
| UK Electricity Transmission   |      |                    1,684 |    1,290 | 31%   |      |                1,290 | 31%   |
| UK Electricity Distribution   |      |                      756 |      647 | 17%   |      |                  647 | 17%   |
| New England                   |      |                      958 |      814 | 18%   |      |                  780 | 23%   |
| New York                      |      |                    1,585 |    1,569 | 1%    |      |                1,503 | 5%    |
| National Grid Ventures        |      |                       69 |      279 | -75%  |      |                  270 | -74%  |
| Other                         |      |                        — |        4 | -100% |      |                    4 | -100% |
| Total capital investment      |      |                    5,052 |    4,603 | 10%   |      |                4,494 | 12%   |

UK Electricity Transmission invested £1,684 million for the first six months of the year, an increase of £394 million on the prior period, primarily driven by £219 million increased spend on onshore ASTI projects (such as North London Reinforcement and Yorkshire Green), £48 million higher spend on ASTI offshore projects (EGL1 and EG2), along with customer connections, cable repair and IT systems investment and cyber; partially offset by lower spend on projects that are reaching completion.

UK Electricity Distribution invested £756 million, an increase of £109 million on the prior period, principally driven by planned asset health work and load-related network reinforcement, along with increases in site spend, investment in vehicles and transport and higher investment in IT systems.

In New England, investment reached £958 million, an increase of £144 million at actual exchange rates (an increase of £178 million at constant currency). This was principally driven by £100 million higher electric distribution programme spend (e.g. AMI and system capacity), £33 million increased spend on electric transmission, along with higher investment in IT systems compared to the prior period.

Investment in New York was £1,585 million, an increase of £16 million over