NATIONAL GRID ELECTRICITY DISTRIBUTION PLC
Formerly known as Western Power Distribution, this subsidiary of the publicly listed National Grid plc operates the electricity distribution network across the Midlands, South West England, and South Wales.
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Cash
£3.6m
+3,500% vs 2025
Net assets
£7.5bn
+253.1% highest in 3 filed years
Employees
—
Average over period
Profit before tax
—
Period ending 2026-03-31
Watch the reel
Our short-form breakdown of NATIONAL GRID ELECTRICITY DISTRIBUTION PLC's latest filing
National Grid's regional electricity network saw turnover and profits drop sharply this year — but headcount and director pay still climbed. ⚡️📉
Net assets
3-year trend · vs Utilities median
Accounts
3-year trend · Δ = latest vs prior filed period · latest reflected 2026-03-31
| Metric | Trend | 2024-03-31 | 2025-03-31 | 2026-03-31 | Δ vs prior |
|---|---|---|---|---|---|
| Turnover | £1,838,200,000 | £2,477,200,000 | — | — | |
| Operating profit | £903,300,000 | £1,551,000,000 | — | — | |
| Profit before tax | £600,100,000 | £1,250,400,000 | — | — | |
| Net profit | £446,300,000 | £935,400,000 | — | — | |
| Cash | £3,700,000 | £100,000 | £3,600,000 | +3,500% | |
| Total assets less current liabilities | — | £2,672,700,000 | £7,677,800,000 | +187.3% | |
| Net assets | £6,516,000,000 | £2,118,100,000 | £7,478,900,000 | +253.1% | |
| Equity | £6,516,000,000 | £2,118,100,000 | £7,478,900,000 | +253.1% | |
| Average employees | 6,872 | 7,083 | — | — | |
| Wages | £439,000,000 | £455,300,000 | — | — | |
| Directors' remuneration | £2,838,000 | £3,322,000 | — | — | |
| Directors' pension contributions | £429,000 | £379,000 | — | — | |
| Highest paid director | £1,273,000 | £1,392,000 | — | — |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2024-03-31 | 2025-03-31 | 2026-03-31 |
|---|---|---|---|---|
| Operating margin | 49.1% | 62.6% | — | |
| Net margin | 24.3% | 37.8% | — | |
| Return on capital employed | — | 58.0% | — | |
| Gearing (liabilities / total assets) | 65.6% | 89.5% | 7.0% | |
| Current ratio | 1.23x | 0.20x | 0.21x | |
| Interest cover | 2.58x | 4.39x | — |
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.
Name history
Renamed 3 times since incorporation
- NATIONAL GRID ELECTRICITY DISTRIBUTION PLC 2022-09-20 → present
- WESTERN POWER DISTRIBUTION PLC 2015-06-24 → 2022-09-20
- WESTERN POWER DISTRIBUTION LIMITED 2014-09-30 → 2015-06-24
- PPL WPD 2 LIMITED 2014-09-17 → 2014-09-30
Audit & accounting basis
- Accounting basis
- FRS 101
- Reporting scope
- Standalone (parent only)
- Auditor
- Deloitte LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The directors have considered the availability of facilities as set out above, the relatively stable and regulated nature of the business, the forecast long term business plan, the consistent credit ratings of the Group, the existing and future forecast covenant compliance of the Group, which includes the gearing ratio, the anticipated ability of the Group to be able to re-finance all short term debt at the future and the ability to provide financial support.”
Group structure
- NATIONAL GRID ELECTRICITY DISTRIBUTION PLC · parent
- NGED South West plc 100%
- NGED South Wales plc 100%
- NGED East Midlands plc 100%
- NGED West Midlands plc 100%
- National Grid Electricity Distribution Network Holdings Limited 100%
- WPD WEM Limited 100%
- WPD WEM Holdings Limited 100%
- National Grid Electricity Distribution Investments Limited 100%
- National Grid Telecoms Limited 100%
- National Grid Electricity Distribution Generation Limited 100%
- National Grid Electricity Distribution Property Investments Limited 100%
- Kelston Properties 2 Limited 100%
- National Grid Helicopters Limited 100%
- Sheet Road Management Company Limited 51%
- South Wales Electricity Share Scheme Trustees Limited 100%
- Central Networks Trustees Limited 100%
- Western Power Pension Trustee Limited 100%
Significant events
- “Subsequent to the year end, on 10 July 2026, NGED West Midlands issued a 9 year 5.163% fixed rate Norwegian bond of NOK 1.5bn (£114.3m).”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
7 active · 22 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| HOLLIS, Katie Suzanne | Secretary | 2024-05-31 | — | — |
| BRANSTON, Paul | Director | 2023-12-15 | Nov 1975 | British |
| DILLON, Jennifer Ann | Director | 2024-04-01 | May 1972 | British |
| O’HARA, Cordelia | Director | 2023-04-01 | Mar 1974 | British |
| PETTIFER, Darren | Director | 2023-12-15 | Apr 1980 | British |
| QUINN, Roisin Anne | Director | 2025-12-18 | Apr 1981 | Irish |
| SHARMA, Tanya Joy | Director | 2024-07-01 | Nov 1986 | British |
Show 22 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| COX, Mark Richard | Secretary | 2023-06-16 | 2024-05-31 |
| JONES, Sally Ann | Secretary | 2014-09-17 | 2023-06-16 |
| ALLEN, Philip Gerald | Director | 2014-10-16 | 2015-02-09 |
| BARBROOK, Laura Sophie Scudamore, Dr | Director | 2022-01-31 | 2024-03-31 |
| BERGSTEIN, JR, Joseph P. | Director | 2019-07-01 | 2021-06-14 |
| BERGSTEIN, JR, Joseph P. | Director | 2016-02-04 | 2017-07-31 |
| BREININGER, Stephen Kenneth | Director | 2014-10-16 | 2017-07-31 |
| CAMPBELL, Justine | Director | 2022-01-31 | 2024-06-30 |
| DUDKIN, Gregory N. | Director | 2016-02-04 | 2021-06-14 |
| ELMORE, Andrew Woodbury | Director | 2020-09-01 | 2021-06-14 |
| HALLADAY, Graham Roy | Director | 2019-01-14 | 2026-03-18 |
| KLINGENSMITH, Ricky Lee | Director | 2014-10-16 | 2015-07-16 |
| OOSTHUIZEN, Daniel Charl Stephanus | Director | 2014-09-17 | 2018-03-31 |
| RAPHAEL, Joanne Hackett | Director | 2017-08-01 | 2021-05-31 |
| SLEIGHTHOLM, Alison Jane | Director | 2018-04-01 | 2023-12-15 |
| SORGI, Vincent | Director | 2014-10-16 | 2021-06-14 |
| SPENCE, William Harold | Director | 2015-07-16 | 2017-12-12 |
| SWIFT, Philip | Director | 2014-10-16 | 2023-03-31 |
| SYMONS, Robert Arthur | Director | 2014-10-16 | 2018-11-07 |
| TOROK, Alexander James | Director | 2014-10-16 | 2020-08-31 |
| WILLIAMS, Ian Robert | Director | 2015-03-09 | 2022-07-31 |
| WILTEN, Mark Frederick | Director | 2014-10-16 | 2015-12-31 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| National Grid Electricity Distribution Holdings Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2021-06-14 | Active |
| Ppl Wpd Investments Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2017-10-20 | Ceased 2021-06-14 |
| Ppl Wpd Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2016-04-06 | Ceased 2017-10-20 |
Filing timeline
Last 20 of 114 total filings
Material constitutional events — rename, articles re-file, resolution
- 2024-05-15 MA Memorandum articles
- 2024-05-15 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-09-04 | TM01 | officers | Termination director company with name termination date | |
| 2026-08-09 | AA | accounts | Accounts with accounts type group | |
| 2026-03-25 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2026-03-19 | TM01 | officers | Termination director company with name termination date | |
| 2025-12-18 | AP01 | officers | Appoint person director company with name date | |
| 2025-08-06 | AA | accounts | Accounts with accounts type group | |
| 2025-04-03 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-09-24 | AA | accounts | Accounts with accounts type group | |
| 2024-07-01 | AP01 | officers | Appoint person director company with name date | |
| 2024-07-01 | TM01 | officers | Termination director company with name termination date | |
| 2024-06-10 | RP04TM01 | officers | Second filing of director termination with name | |
| 2024-05-31 | TM02 | officers | Termination secretary company with name termination date | |
| 2024-05-31 | AP03 | officers | Appoint person secretary company with name date | |
| 2024-05-15 | MA | incorporation | Memorandum articles | |
| 2024-05-15 | RESOLUTIONS | resolution | Resolution | |
| 2024-04-12 | AP01 | officers | Appoint person director company with name date | |
| 2024-04-12 | TM01 | officers | Termination director company with name termination date | |
| 2024-04-03 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-12-22 | AP01 | officers | Appoint person director company with name date | |
| 2023-12-19 | AP01 | officers | Appoint person director company with name date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 5
- Capital events
- 0
- Officers appointed
- 1
- Officers resigned
- 1
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.