8 February
2024
National Grid plc
Grid Guide to Accelerating UK
Connections
National Grid is hosting an investor
event in London today focusing on accelerating connections across
its UK
Electricity Transmission and Distribution
businesses.
The event forms part of National
Grid's ESG investor education series. It will demonstrate the progress we've been making within the
regulatory and policy parameters in which we operate. It will also
expand on why further connections reform is needed to deliver the
clean energy and infrastructure required if the country is to meet
the UK Government's target of a decarbonised grid by
2035.
Following an introduction from John
Pettigrew, Chief Executive, the session will be led by Alice
Delahunty, National Grid Electricity Transmission President, and
Cordi O'Hara, National Grid Electricity Distribution President. A
live webcast of the event will be available to watch using the
following
link.
Copies of the presentations and a
video recording will also be available on National Grid's
investor
website after the
event.
No material updates on current
trading will be provided.
Investors and Analysts
Nick Ashworth
Angela Broad
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+44 (0) 7814 355 590
+44 (0) 7825 351 918
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James Flanagan
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+44 (0) 7970 778 952
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Media
Jamee Majid
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+44 (0) 7973 948 133
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Ben Davis
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+44 (0) 7971 539 999
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CAUTIONARY
STATEMENT
This announcement contains certain
statements that are neither reported financial results nor other
historical information. These statements are forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. These statements include information with
respect to National Grid's (the Company) financial condition, its
results of operations and businesses, strategy, plans and
objectives. Words such as 'aims', 'anticipates', 'expects',
'should', 'intends', 'plans', 'believes', 'outlook', 'seeks',
'estimates', 'targets', 'may', 'will', 'continue', 'project' and
similar expressions, as well as statements in the future tense,
identify forward-looking statements. This document also references
climate-related targets and climate-related risks which differ from
conventional financial risks in that they are complex, novel and
tend to involve projection over long-term scenarios which are
subject to significant uncertainty and change. These forward
looking statements are not guarantees of National Grid's future
performance and are subject to assumptions, risks and uncertainties
that could cause actual future results to differ materially from
those expressed in or implied by such forward-looking statements or
targets. Many of these assumptions, risks and uncertainties relate
to factors that are beyond National Grid's ability to control,
predict or estimate precisely, such as changes in laws or
regulations; announcements from and decisions by governmental
bodies or regulators, including those relating to the RIIO-T2 and
RIIO-ED2 price controls and developments regarding the future of
the electricity system operator in the United Kingdom; the timing
of construction and delivery by third parties of new generation
projects requiring connection; breaches of, or changes in,
environmental, climate change and health and safety laws or
regulations, including breaches or other incidents arising from the
potentially harmful nature of its activities; network failure or
interruption (including any that result in safety and/or
environmental events), the inability to carry out critical
non-network operations and damage to infrastructure, due to adverse
weather conditions including the impact of major storms as well as
the results of climate change, due to counterparties being unable
to deliver physical commodities, or due to the failure of or
unauthorised access to or deliberate breaches of National Grid's IT
systems and supporting technology; failure to adequately forecast
and respond to disruptions in energy supply; performance against
regulatory targets and standards and against National Grid's peers
with the aim of delivering stakeholder expectations regarding costs
and efficiency savings, as well as against targets and standards
designed to deliver net zero; and customers and counterparties
(including financial institutions) failing to perform their
obligations to the Company. Other factors that could cause actual
results to differ materially from those described in this
announcement include fluctuations in exchange rates, interest rates
and commodity price indices; restrictions and conditions (including
filing requirements) in National Grid's borrowing and debt
arrangements, funding costs and access to financing; regulatory
requirements for the Company to maintain financial resources in
certain parts of its business and restrictions on some
subsidiaries' transactions such as paying dividends, lending or
levying charges; the delayed timing of recoveries and payments in
National Grid's regulated businesses, and whether aspects of its
activities are contestable; the funding requirements and
performance of National Grid's pension schemes and other
post-retirement benefit schemes; the failure to attract, develop
and retain employees with the necessary competencies, including
leadership and business capabilities, and any significant disputes
arising with National Grid's employees or the breach of laws or
regulations by its employees; the failure to respond to market
developments, including competition for onshore transmission; the
threats and opportunities presented by emerging technology; the
failure by the Company to respond to, or meet its own commitments
as a leader in relation to, climate change development activities
relating to energy transition, including the integration of
distributed energy resources; and the need to grow the Company's
business to deliver its strategy, as well as incorrect or
unforeseen assumptions or conclusions (including unanticipated
costs and liabilities) relating to business development activity,
including the integration of its UK Electricity Distribution
business, the sale of its UK Gas Transmission business, and the
separation and transfer of the ESO to the public sector. For
further details regarding these and other assumptions, risks and
uncertainties that may impact National Grid, please read the
Strategic Report section and the 'Risk factors' on pages 225 to 228
of National Grid's most recent Annual Report and Accounts, as
updated by National Grid's unaudited half-year financial
information for the six months ended 30 September 2023 published on
9 November 2023. In addition, new factors emerge from time to time
and National Grid cannot assess the potential impact of any such
factor on its activities or the extent to which any factor, or
combination of factors, may cause actual future results to differ
materially from those contained in any forward-looking statement.
Except as may be required by law or regulation, the Company
undertakes no obligation to update any of its forward-looking
statements, which speak only as of the date of this
announcement.