6 July 2023
National Grid plc
UK Electricity Distribution Investor Event
National Grid is hosting an investor event in London today focusing on its UK Electricity Distribution business.
Following the acquisition of Western Power Distribution two years ago, UK Electricity Distribution accounts for 20% of the Group’s regulated assets. Under the recently agreed RIIO-ED2 5-year price control, capital investment is expected to be £7.5 billion, an increase of over 30% in annual investment compared to RIIO-ED1. This green investment1 will connect significant new renewable generation capacity, enable up to 1.5 million electric vehicle chargers and up to 600,000 heat pumps, whilst ensuring our networks remain resilient and reliable.
With electricity demand in the UK anticipated to double by 2050, our networks play a critical role at the heart of the energy transition, and this will continue to drive growth opportunities throughout this decade and beyond.
Following an introduction from John Pettigrew, Chief Executive, the session will be led by Cordi O’Hara, National Grid Electricity Distribution President, together with senior members of her leadership team. Copies of the presentations and a video recording will be available on National Grid’s investor website on Monday 10 July 2023.
No material updates on current trading will be provided.