Company: NEWEN
Filing Date: 2025-05-15
Form Type: 6-K
Source: 0001654954-25-005651
Chunk: 63

Company: NATIONAL GRID PLC
Filing Date: 2025-05-15
Form: 6-K
Chunk 63
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 not designated as hedges for hedge accounting                       |     |     -1 |     -2 |
|                                                                     |     |      3 |     11 |
| Total remeasurements - Finance income and costs                     |     |      4 |     15 |
| Finance income                                                      |     |    450 |    248 |
| Finance costs4                                                      |     | -1,807 | -1,712 |
| Net finance costs from continuing operations                        |     | -1,357 | -1,464 |

1. Includes interest expense on lease liabilities.

2. Interest on funding attributable to assets in the course of construction in the current year was capitalised at a rate of 4.3% (2024: 4.7%). In the UK, capitalised interest qualifies for a current year tax deduction with tax relief claimed of £39 million (2024: £39 million). In the US, capitalised interest is added to the cost of property, plant and equipment, and qualifies for tax depreciation allowances.

3. Includes a net foreign exchange gain on borrowing and investment activities of £241 million (2024: £271 million gain) offset by foreign exchange gains and losses on financing derivatives measured at fair value and the impacts of hedge accounting.

4. Finance costs include principal accretion on inflation-linked liabilities of £152 million (2024: £208 million).

#### 6. Tax
**Tax charged to the consolidated income statement - continuing operations**

|                                                 | 2025 | 2024 |
|                                                 |   £m |   £m |
| Tax before exceptional items and remeasurements |  861 |  983 |
| Total tax reported within exceptional items and 
 remeasurements                                  |  -40 | -152 |
| Total tax charge from continuing operations     |  821 |  831 |

#### Tax as a percentage of profit before tax
|                                                          | 2025 | 2024 |
|                                                          |    % |    % |
| Before exceptional items and remeasurements - continuing 
 operations                                               | 24.7 | 24.1 |
| After exceptional items and remeasurements - continuing  
 operations                                               | 22.5 | 27.3 |

|                                                      | 2025 | 2024 |
|                                                      |   £m |   £m |
| Current tax:                                         |      |      |
| UK                                                   
 corporation tax at 25% (2024: