Company: NEWEN
Filing Date: 2025-05-15
Form Type: 6-K
Source: 0001654954-25-005651
Chunk: 33

Company: NATIONAL GRID PLC
Filing Date: 2025-05-15
Form: 6-K
Chunk 33
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4 % increase on the prior year, primarily reflecting higher RAV indexation.

■ Achieved RoE for the year was 7.9% (compared to 8.5% in the prior year), outperforming our allowance by 20 basis points, which is lower than our aim to achieve 100-125 basis points of outperformance. This reflects the one-off impact from Storm Darragh and impacts from the ED2 Real Price Effects (RPE) mechanism, where lower than anticipated allowances due to reductions in commodity indices since the start of the RIIO-ED2 period have not tracked actual costs incurred.

■ Capital investment reached £1,426 million in our UK Electricity Distribution network, up 14% from the prior year. This increase was driven principally by planned increases in spend on asset health, network reinforcement and our connections workload (enabling a 59% increase in heat pump connections and a 70% increase in EV charging point connections in the year).

■ We have delivered £88 million of UK ED integration synergy totex benefits to date, keeping us on track to deliver our £100 million target over three years. These synergies have come through procurement strategy and management, reviewing how we run and operate the 48 sites shared by UK ET and UK ED, operational delivery, and aligning with wider Group functions (including IT, insurance and pensions).

#### Operational performance
■ In 2024/25, we achieved an excellent network reliability of 99.98294%, this despite eight named storms across the network compared to an average of five in a normal year. This included Storm Darragh which affected all our service territories in December. Whilst our teams responded quickly to each incident, the higher volume of storms meant we missed our customer minutes lost target this year.

■ Our LTIFR increased to 0.18 against the Group target of less than 0.10, but the proportion of severe specified injuries as defined by UK Health and Safety legislation (RIDDOR) has fallen.

■ We have also progressed our DSO capability on the development of flexibility markets, now operating the largest market across all DSOs with over 160,000 registered assets. This allows us to optimise network planning and operations avoiding over 200 GWh of renewable generation curtailment and lower costs for consumers.

■ During the year, we connected around 100,000 new low carbon technology connections, 208 large scale demand projects, and 595 MW of renewable generation connections.

■ We have supported vulnerable