REG - National Grid PLC - Grid Guide to Accelerating UK Connections

National GridAnnouncement

08/02/2024 07:15

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RNS Number : 4094C  National Grid PLC  08 February 2024

 

 

 

 

 

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.
(https://stream.brrmedia.co.uk/broadcast/65942dccb012a6d30b474436/6597ff5a545ed2f1271e0804)

Copies of the presentations and a video recording will also be available on
National Grid's investor website
(https://www.nationalgrid.com/investors/events/events-and-materials-centre)
after the event.

 

No material updates on current trading will be provided.

 

 

 

 

Investors and Analysts

 

 Nick Ashworth   +44 (0) 7814 355 590

 Angela Broad    +44 (0) 7825 351 918

 James Flanagan  +44 (0) 7970 778 952

Media

 

 Jamee Majid  +44 (0) 7973 948 133

 Ben Davis    +44 (0) 7971 539 999

 

 

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.

 

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