NATIONAL GRID ELECTRICITY TRANSMISSION PLC

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

• Turnover

  -4.2%

  £2,735,000,000 → £2,619,000,000

• Cash

  +275%

  £4,000,000 → £15,000,000

• Net assets

  +12.5%

  £5,157,000,000 → £5,803,000,000

• Employees

  +14.5%

  5,328 → 6,102

• Operating profit

  -24.7%

  £1,648,000,000 → £1,241,000,000

• Profit before tax

  -25.8%

  £1,390,000,000 → £1,031,000,000

• Wages

  -4.5%

  £376,000,000 → £359,000,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

1. NATIONAL GRID ELECTRICITY TRANSMISSION PLC 2005-07-26 → present
2. NATIONAL GRID COMPANY PLC 2002-10-21 → 2005-07-26
3. THE NATIONAL GRID COMPANY PLC 1989-04-01 → 2002-10-21

Accounting basis

IFRS

Reporting scope

Consolidated group

Auditor

Deloitte LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The Directors have a reasonable expectation that the Company will be able to continue operating and meet its liabilities over the period to July 2030.”

Group structure

1. NATIONAL GRID ELECTRICITY TRANSMISSION PLC · parent
   1. National Grid Electricity Groupworks Limited 100% · Pension nominee company
   2. NGC Employee Shares Trustee Limited 50% · Trustee of the NGC profit sharing scheme and NGC Employee Trust
   3. NGET/BPT Upgrades Limited 50% · Construction services England-Scotland interconnector
   4. Eastern Green Link 1 Limited 50% · Construction services England-Scotland interconnector
   5. Eastern Green Link 2 Limited 50% · Construction services England-Scotland interconnector
   6. No 1 Forbury Place 43 Forbury Road Reading RG1 3JH 50% · Construction services England-Scotland interconnector
   7. Joint Radio Company Limited 25% · Consultancy services

Significant events

• “On 13 June 2025, we signed an Export Credit Agency facility for 1,054 million US dollars tied to spend on the Eastern Green Link 2 ASTI project. Final maturity is December 2044. As at 28 July 2025, the facility remains undrawn.”
• “On 2 July 2025, Ofgem confirmed that they have opened an official enforcement investigation into National Grid Electricity Transmission plc and its compliance with obligations under Section 9(2) of the Electricity Act 1989 and also B7(1) of its Electricity Transmission Licence in relation to the North Hyde substation (see note 26). As at 28 July 2025, any possible impact is deemed to be a contingent liability.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

7

last 12 months

Capital events

0

last 24 months

Officers appointed

2

last 12 months

Officers resigned

2

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.