Company: NEWEN
Filing Date: 2025-05-15
Form Type: 6-K
Source: 0001654954-25-005651
Chunk: 53

Company: NATIONAL GRID PLC
Filing Date: 2025-05-15
Form: 6-K
Chunk 53
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 profit, as this is the measure that is most consistent with the IFRS results reported within these financial statements.

The results of our six principal businesses are reported to the Board of Directors and are accordingly treated as reportable operating segments. All other operating segments are reported to the Board of Directors on an aggregated basis. The following table describes the main activities for each reportable operating segment:

| UK Electricity Transmission    | The high-voltage electricity transmission networks in England and   
 Wales. This includes our Accelerated Strategic Transmission         
 Investment projects to connect more clean, low-carbon power to      
 the transmission network in England and Wales.                      |
| UK Electricity Distribution    | The electricity distribution networks of NGED in the East Midlands, 
 West Midlands and South West of England and South                   
 Wales.                                                              |
| UK Electricity System Operator | The Great Britain system operator. The Group completed the disposal 
 of the ESO to the UK Government on 1 October 2024                   
 (see note 9).                                                       |
| New England                    | Electricity distribution networks, high-voltage electricity         
 transmission networks and gas distribution networks                 
 in New England.                                                     |
| New York                       | Electricity distribution networks, high-voltage electricity         
 transmission networks and gas distribution networks                 
 in New York.                                                        |
| National Grid Ventures         | Comprises all commercial operations in LNG at the Isle of Grain in  
 the UK and Providence, Rhode Island in the US, our electricity      
 generation business in the US, our electricity interconnectors in   
 the UK and our investment in NG Renewables, our renewables          
 business in the US. While NGV operates outside our regulated        
 core business, the electricity interconnectors in the UK            
 are subject to indirect regulation by Ofgem regarding the level of  
 returns they can earn. NG Renewables and Grain LNG were             
 classified as held for sale in the year (see note 9).               |

**Other activities that do not form part of any of the segments in the above table primarily relate to our UK property business together with insurance and corporate activities in the UK and US and the Group's investments in technology and innovation companies through National Grid Partners.

2. Segmental analysis continued

(a) Revenue**

Revenue primarily represents the sales value derived from the generation, transmission and distribution of energy, together with the sales value derived from the provision of other services to customers. Refer to note 3 for further details.

Sales between operating segments are priced considering the regulatory and legal requirements to which the businesses are subject. The analysis of revenue by geographical area