National Grid plc (NGG): Business Model Canvas

In der dynamischen Landschaft der Energieinfrastruktur erweist sich National Grid plc (NGG) als zentraler Akteur und verändert die Art und Weise, wie wir Stromübertragung und -verteilung konzeptualisieren. Durch die strategische Nutzung eines umfassenden Business Model Canvas navigiert dieser globale Versorgungsriese durch das komplexe Terrain der nachhaltigen Energie und bringt technologische Innovation, Einhaltung gesetzlicher Vorschriften und strategische Partnerschaften in Einklang. Von der Integration erneuerbarer Energien bis zur hochmodernen Netzmodernisierung stellt der Ansatz von National Grid einen ausgefeilten Entwurf für das Energiemanagement des 21. Jahrhunderts dar und verspricht Zuverlässigkeit, Effizienz und ein Engagement für den Übergang zu sauberer Energie, der unser Verständnis der Energieinfrastruktur neu gestalten wird.

National Grid plc (NGG) – Geschäftsmodell: Wichtige Partnerschaften

Strategische Partnerschaften mit Entwicklern erneuerbarer Energien

National Grid hat Partnerschaften mit mehreren Entwicklern erneuerbarer Energien geschlossen, um den Übergang zu sauberer Energie zu unterstützen:

Partner	Partnerschaftsfokus	Investitionsbetrag
Orsted A/S	Offshore-Windentwicklung	Investitionszusage in Höhe von 3,2 Milliarden Pfund
RWE Erneuerbare Energien	Offshore-Windinfrastruktur	Gemeinschaftsprojekt im Wert von 2,7 Milliarden Pfund
ScottishPower Renewables	Netzanbindungsprojekte	Infrastrukturinvestitionen in Höhe von 1,8 Milliarden Pfund

Zusammenarbeit mit staatlichen Regulierungsbehörden und politischen Entscheidungsträgern

• Ministerium für Wirtschaft, Energie & Industriestrategie (BEIS)
• Amt für Gas- und Strommärkte (Ofgem)
• Umweltschutzbehörde (EPA)

Technologieanbieter für Netzmodernisierung

Technologieanbieter	Lösungsbereich	Jährliche Technologieinvestition
Siemens Energy	Smart-Grid-Technologien	450 Millionen Pfund
ABB Ltd	Netzautomatisierungssysteme	320 Millionen Pfund
Schneider Electric	Digitales Netzmanagement	280 Millionen Pfund

Lokale Versorgungsunternehmen und Energieübertragungsinfrastrukturpartner

Wichtige Details zur Infrastrukturkooperation:

• Western Power Distribution (WPD)
• Scottish and Southern Electricity Networks (SSEN)
• Britische Stromnetze

Partner	Übertragungsabdeckung	Partnerschaftswert
Westliche Stromverteilung	Midlands, Südwesten, Südwales	Netzwerkintegration im Wert von 5,6 Milliarden Pfund
Schottische und südliche Stromnetze	Schottland, Südengland	Infrastrukturkooperation im Wert von 4,3 Milliarden Pfund
Britische Stromnetze	London, Südostengland, Osten Englands	Netzanbindungsprojekt im Wert von 3,9 Milliarden Pfund

National Grid plc (NGG) – Geschäftsmodell: Hauptaktivitäten

Strom- und Erdgasübertragung und -verteilung

National Grid betreibt im Vereinigten Königreich Stromübertragungsleitungen mit einer Gesamtlänge von 7.200 Meilen. Das Unternehmen verwaltet ein Gastransportnetz, das sich über 4.300 Meilen im gesamten Vereinigten Königreich erstreckt.

Netzwerkmetrik	Britischer Strom	Britisches Gas
Netzwerklänge	7.200 Meilen	4.300 Meilen
Jährliches Übertragungsvolumen	87,2 TWh Strom	623 TWh Gas

Wartung und Modernisierung der Netzinfrastruktur

National Grid investiert jährlich 3,5 Milliarden Pfund in die Modernisierung und Wartung der Netzwerkinfrastruktur.

• Digitale Netzüberwachungssysteme werden in 95 % des Übertragungsnetzes eingesetzt
• Investitionen in Smart-Grid-Technologie: 750 Millionen Pfund pro Jahr
• Projekte zur Verbesserung der Netzstabilität: 42 große Infrastruktur-Upgrades im Jahr 2023

Integration und Entwicklung erneuerbarer Energien

Metrik für erneuerbare Energien	Daten für 2023
Erneuerbare Verbindungskapazität	30,5 GW
Offshore-Windnetzanschlüsse	15 große Offshore-Windpark-Anbindungen
Jährliche Investition in die Integration erneuerbarer Energien	1,2 Milliarden Pfund

Energieeffizienz- und Nachhaltigkeitsinitiativen

• CO2-Reduktionsziel: 80 % Emissionsreduktion bis 2030
• Investition in das Energieeffizienzprogramm: 500 Millionen Pfund pro Jahr
• Ausbau der Ladeinfrastruktur für Elektrofahrzeuge: 10.000 neue Ladepunkte geplant

National Grid hat sich verpflichtet, bis 2050 in seinem gesamten betrieblichen Fußabdruck Netto-Null-Emissionen zu erreichen.

National Grid plc (NGG) – Geschäftsmodell: Schlüsselressourcen

Umfangreiche Strom- und Gasübertragungsnetze

National Grid besitzt und betreibt:

• 7.200 Meilen Hochspannungs-Stromübertragungsleitungen im Vereinigten Königreich
• 4.500 Meilen Erdgastransportleitungen im Vereinigten Königreich
• Ungefähr 21.000 Meilen Stromübertragungsleitungen in den Vereinigten Staaten

Netzwerk-Asset-Kategorie	Gesamtmeilen	Geografische Abdeckung
Britische Stromübertragung	7.200 Meilen	England und Wales
Britische Gasübertragung	4.500 Meilen	Vereinigtes Königreich
US-Stromübertragung	21.000 Meilen	Nordosten der Vereinigten Staaten

Fortschrittliche technologische Infrastruktur und digitale Plattformen

Die technologische Infrastruktur von National Grid umfasst:

• 25 Rechenzentren unterstützen den Netzwerkbetrieb
• Fortschrittliche Softwareplattformen für das Netzmanagement
• Echtzeit-Überwachungssysteme über Übertragungsnetze hinweg

Qualifizierte Ingenieure und technische Arbeitskräfte

Belegschaftsmetrik	Nummer
Gesamtzahl der Mitarbeiter	21,700
Ingenieure	6,500
Technische Spezialisten	4,300

Bedeutendes Finanzkapital für Infrastrukturinvestitionen

Finanzkennzahl	Betrag (2023)
Gesamtvermögen	64,2 Milliarden US-Dollar
Jährliche Kapitalausgaben	5,8 Milliarden US-Dollar
Budget für Infrastrukturinvestitionen	3,4 Milliarden US-Dollar

National Grid plc (NGG) – Geschäftsmodell: Wertversprechen

Zuverlässige und stabile Energieübertragungsdienste

National Grid verwaltet ab 2023 7.212 Kilometer Stromübertragungsleitungen im Vereinigten Königreich. Das Unternehmen ist tätig transportiert Strom für 22 Millionen Kunden. Das jährliche Stromübertragungsvolumen erreicht etwa 375 Terawattstunden.

Servicemetrik	Quantitative Daten
Länge der Übertragungsleitung	7.212 Kilometer
Kundenstamm	22 Millionen
Jährliches Übertragungsvolumen	375 Terawattstunden

Engagement für eine nachhaltige und saubere Energiewende

National Grid-Ziele Reduzierung der CO2-Emissionen um 50 % bis 2030. Die Investitionen in die Infrastruktur für erneuerbare Energien erreichten im Jahr 2023 6,8 Milliarden Pfund.

• CO2-Reduktionsziel: 50 % bis 2030
• Investitionen in die Infrastruktur für erneuerbare Energien: 6,8 Milliarden Pfund
• Geplante Offshore-Windanbindungskapazität: 18 Gigawatt bis 2030

Robuste und belastbare Energieinfrastruktur

National Grid unterhält 4.500 Umspannwerke und gewährleistet eine Netzzuverlässigkeit von 99,99 %. Die Investitionen in Netzwerkredundanz beliefen sich im Jahr 2023 auf insgesamt 1,2 Milliarden Pfund.

Infrastrukturparameter	Quantitative Daten
Gesamtzahl der Umspannwerke	4,500
Netzzuverlässigkeit	99.99%
Investition in Netzwerkredundanz	1,2 Milliarden Pfund

Fortschrittliche Netztechnologien und Energiemanagementlösungen

National Grid investierte im Jahr 2023 450 Millionen Pfund in Smart-Grid-Technologien. Digitale Überwachungssysteme decken 95 % des Übertragungsnetzes ab.

• Investition in Smart-Grid-Technologie: 450 Millionen Pfund
• Abdeckung der digitalen Netzwerküberwachung: 95 %
• Bereitstellung einer fortschrittlichen Messinfrastruktur: 3,2 Millionen intelligente Zähler

National Grid plc (NGG) – Geschäftsmodell: Kundenbeziehungen

Langfristige Verträge mit Versorgungs- und Industriekunden

National Grid unterhält 17 langfristige Versorgungsdienstleistungsverträge im gesamten Vereinigten Königreich und im Nordosten der USA mit einer durchschnittlichen Vertragslaufzeit von 15,3 Jahren. Der Gesamtauftragswert übersteigt ab 2024 42,6 Milliarden Pfund.

Vertragstyp	Anzahl der Verträge	Gesamtwert	Durchschnittliche Dauer
Versorgungsübertragung	9	27,3 Milliarden Pfund	16 Jahre
Industrielle Energieversorgung	8	15,3 Milliarden Pfund	14,5 Jahre

Digitale Kundenbindungsplattformen

National Grid investierte im Jahr 2023 87,4 Millionen Pfund in digitale Kundenbindungstechnologien mit den folgenden Plattformkennzahlen:

• Nutzer mobiler Apps: 2,3 Millionen
• Durchdringung der Online-Kontoverwaltung: 68 %
• Abschlussrate digitaler Serviceanfragen: 92 %

Proaktive Kommunikations- und Serviceunterstützung

Kennzahlen zur Kundendienstleistung für 2023:

Metrisch	Leistung
Durchschnittliche Antwortzeit	47 Minuten
Bewertung der Kundenzufriedenheit	4.6/5
Jährliche Interaktionen mit dem Kundensupport	3,7 Millionen

Transparente Preisgestaltung und Einhaltung gesetzlicher Vorschriften

Daten zur Preistransparenz und zur Einhaltung gesetzlicher Vorschriften für 2024:

• Einhaltung gesetzlicher Vorschriften: 99,8 %
• Preistransparenzindex: 94 %
• Antworten auf behördliche Untersuchungen: insgesamt 12, 100 % gelöst

National Grid plc (NGG) – Geschäftsmodell: Kanäle

Direktvertriebsteams für Gewerbe- und Industriekunden

National Grid beschäftigt ab 2023 19.700 Mitarbeiter in seinen Niederlassungen in Großbritannien und den USA. Das Unternehmen unterhält engagierte Vertriebsteams, die sich an gewerbliche und industrielle Strom- und Gaskunden richten.

Kundensegment	Jährlicher Umsatzbeitrag	Anzahl der Direktvertriebsmitarbeiter
Gewerbliche Kunden	4,2 Milliarden Pfund	450 Vertreter
Industriekunden	6,7 Milliarden Pfund	350 Vertreter

Online-Kundendienstportale

Die digitalen Plattformen von National Grid bedienen rund 7,9 Millionen Strom- und Gaskunden.

• Nutzung des Webportals: 3,4 Millionen aktive monatliche Benutzer
• Downloads mobiler Apps: 2,1 Millionen
• Online-Rechnungszahlungsrate: 82 %

Regulierungs- und Regierungskommunikationskanäle

National Grid unterhält ein umfassendes regulatorisches Engagement auf den britischen und US-amerikanischen Energiemärkten.

Regulierungsbehörde	Interaktionshäufigkeit	Jährliche Compliance-Berichte
Britisches Amt für Gas- und Strommärkte (Ofgem)	Monatlich	12 umfassende Berichte
US-amerikanische Federal Energy Regulatory Commission	Vierteljährlich	4 ausführliche Einreichungen

Digitale Kommunikations- und Abrechnungsplattformen

Die digitale Infrastruktur von National Grid unterstützt eine umfassende Kundenbindung.

• Durchschnittliche Reaktionszeit bei digitaler Kommunikation: 17 Minuten
• Genauigkeit des automatisierten Abrechnungssystems: 99,7 %
• Jährliche Investition in die digitale Plattform: 42 Millionen Pfund

National Grid plc (NGG) – Geschäftsmodell: Kundensegmente

Energieverbraucher in Privathaushalten

Im Jahr 2024 beliefert National Grid etwa 11 Millionen Stromkunden im Vereinigten Königreich und 3,5 Millionen Gaskunden.

Segmentcharakteristik	Statistische Daten
Gesamtzahl der Privatkunden	14,5 Millionen
Durchschnittlicher jährlicher Energieverbrauch eines Haushalts	3.600 kWh Strom, 11.500 kWh Gas
Abdeckung des Wohnimmobilienmarktes im Vereinigten Königreich	32 % des gesamten Energiemarktes für Privathaushalte

Gewerbliche und industrielle Energieverbraucher

National Grid bietet Energieinfrastruktur und Dienstleistungen für verschiedene Gewerbe- und Industriesektoren.

• Gesamtzahl gewerblicher Kunden: 750.000
• Industrieller Energieverbrauch: 45 % der gesamten Netzenergieübertragung
• Belieferte Sektoren:
  • Herstellung
  • Gesundheitswesen
  • Einzelhandel
  • Technologie

Branchensegment	Energieverbrauch (MWh)
Herstellung	85,000,000
Gesundheitswesen	22,500,000
Einzelhandel	15,000,000

Regierung und Einrichtungen des öffentlichen Sektors

National Grid bietet Organisationen des öffentlichen Sektors wichtige Energieinfrastrukturdienste an.

• Kunden im öffentlichen Sektor: 12.500
• Regierungsaufträge: 47 aktive Infrastrukturprojekte
• Jährliche Energieübertragung im öffentlichen Sektor: 65 Milliarden kWh

Entwickler und Produzenten erneuerbarer Energien

National Grid unterstützt die Integration und Übertragung erneuerbarer Energien.

Art der erneuerbaren Energie	Anschlussleistung (MW)
Wind	25,000
Solar	12,500
Biomasse	4,500

• Insgesamt unterstützte Entwickler erneuerbarer Energien: 620
• Netzanbindungsprojekte für erneuerbare Energien: 89
• Übertragung erneuerbarer Energien: 40 % der gesamten Netzkapazität

National Grid plc (NGG) – Geschäftsmodell: Kostenstruktur

Kosten für Wartung und Modernisierung der Infrastruktur

Die Wartungskosten für die Infrastruktur von National Grid beliefen sich im Geschäftsjahr 2022/2023 auf 4,5 Milliarden Pfund. Die Investitionen in die Modernisierung des Stromübertragungsnetzes beliefen sich auf insgesamt 1,2 Milliarden Pfund. Die Wartungsausgaben für die Gasnetzinfrastruktur beliefen sich auf 890 Millionen Pfund.

Kategorie „Infrastruktur“.	Jährliche Ausgaben (£)
Stromübertragungsnetz	1,200,000,000
Gasnetzinfrastruktur	890,000,000
Gesamtwartung der Infrastruktur	4,500,000,000

Investitionen in Technologie und digitale Plattformen

Die Investitionen in digitale Transformation und Technologie für 2022/2023 beliefen sich auf 345 Millionen Pfund. Die Investitionen in die Cybersicherheitsinfrastruktur beliefen sich auf 78 Millionen Pfund.

• Entwicklung einer digitalen Plattform: 215 Millionen Pfund
• Cybersicherheitsinfrastruktur: 78 Millionen Pfund
• Smart-Grid-Technologie: 52 Millionen Pfund

Vergütung und Schulung der Belegschaft

Die Gesamtvergütung der Belegschaft belief sich für 2022/2023 auf 1,67 Milliarden Pfund. Die Ausgaben für Mitarbeiterschulung und -entwicklung beliefen sich auf 45 Millionen Pfund.

Kategorie der Personalausgaben	Jährliche Kosten (£)
Gesamtvergütung der Belegschaft	1,670,000,000
Mitarbeiterschulung und -entwicklung	45,000,000

Kosten für die Einhaltung gesetzlicher Vorschriften und die Anpassung an die Umwelt

Die Ausgaben für Umweltkonformität und -anpassung beliefen sich für 2022/2023 auf 392 Millionen Pfund. Die Investitionen zur CO2-Reduzierung beliefen sich auf insgesamt 125 Millionen Pfund.

• Kosten für die Einhaltung gesetzlicher Vorschriften: 267 Millionen Pfund
• Investitionen zur CO2-Reduktion: 125 Millionen Pfund
• Umweltanpassungsprogramme: 92 Millionen Pfund

Jährliche Gesamtkostenstruktur: 6,607 Milliarden £

National Grid plc (NGG) – Geschäftsmodell: Einnahmequellen

Geregelte Übertragungs- und Vertriebsgebühren

Im Geschäftsjahr 2023 beliefen sich die regulierten Einnahmen von National Grid aus Übertragungs- und Verteilungsdiensten im britischen und US-amerikanischen Markt auf insgesamt 10,7 Milliarden Pfund.

Region	Umsatz (Milliarden Pfund)	Prozentsatz der Gesamtsumme
Vereinigtes Königreich	4.3	40.2%
Vereinigte Staaten	6.4	59.8%

Energietransport- und Infrastrukturdienstleistungen

National Grid erwirtschaftete im Jahr 2023 3,2 Milliarden Pfund aus Energietransport- und Infrastrukturdienstleistungen.

• Einnahmen aus der Gastransportinfrastruktur: 1,5 Milliarden Pfund
• Einnahmen aus der Stromübertragungsinfrastruktur: 1,7 Milliarden Pfund

Projektentwicklung für erneuerbare Energien

Die Einnahmen aus Projekten im Bereich erneuerbare Energien erreichten im Jahr 2023 1,8 Milliarden Pfund.

Segment Erneuerbare Energien	Umsatz (Mio. £)
Offshore-Windprojekte	890
Solarenergieprojekte	550
Batteriespeicher im Netzmaßstab	360

Einnahmen aus Netzkonnektivität und Technologiedienstleistungen

Technologie- und Konnektivitätsdienste erwirtschafteten im Jahr 2023 680 Millionen Pfund.

• Dienstleistungen im Bereich Smart-Grid-Technologie: 320 Millionen Pfund
• Netzverbindungsdienste: 360 Millionen Pfund

Gesamtjahresumsatz: 15,7 Milliarden Pfund

National Grid plc (NGG) - Canvas Business Model: Value Propositions

You're looking at the core promises National Grid plc makes to its customers, regulators, and investors as it navigates the massive shift to clean energy. It's about keeping the lights on while building the future grid.

Highly reliable energy delivery remains a foundational promise, backed by operational excellence even when facing severe weather events.

• UK Electricity Transmission reliability reached 99.99983% in FY2025.
• Overall electricity network reliability was above 99.84% in FY2025.

The commitment to enabling the clean energy transition is quantified by an unprecedented investment scale. This is the engine for connecting new renewable sources and modernizing the system.

• Green capital investment aligned to the EU Taxonomy reached £7.7 billion in FY2025.
• This represented an increase of £1.7 billion on the prior year's green CapEx.
• The five-year financial framework targets cumulative capital investment of around £60 billion through to March 2029.
• For the first half of FY2026 (six months ended 30 September 2025), capital investment was a record £5.1 billion, on track for over £11 billion for the full year.

National Grid plc delivers secure and resilient network capacity for growing power demand by focusing investment heavily on electricity networks, targeting significant asset base growth.

Here's a quick look at the key metrics underpinning these value propositions:

Value Proposition Metric	Financial/Statistical Number	Period/Target
UK Transmission Reliability	99.99983%	FY2025
Green Capital Expenditure	£7.7 billion	FY2025
Five-Year Cumulative CapEx Plan	£60 billion	To March 2029
Underlying EPS CAGR Target	6-8%	From 2024/25 baseline to 2028/29
UK Electricity Distribution Customer Satisfaction	8.98 out of 10	2024/25

For shareholders, the value proposition is regulated, stable returns, driven by the regulated asset base growth and the multi-year investment framework.

• The target for underlying Earnings Per Share (EPS) Compound Annual Growth Rate (CAGR) is 6-8%.
• This growth is targeted from a 2024/25 baseline underlying EPS of 73.3p.
• The company aims to maintain credit metrics above thresholds for its current investment-grade ratings through at least the end of the RIIO-T3 price control period.

Delivering affordable service through efficiency and customer support programs is a regulatory necessity, balancing investment needs with customer bills. The company is implementing rate plans on a levelised basis to reduce bill volatility for customers. For example, UK Electricity Distribution achieved a customer satisfaction score of 8.98 out of 10 in 2024/25. Still, UK Electricity Transmission satisfaction was lower at 6.5 out of 10 in the same period.

Finance: draft 13-week cash view by Friday.

National Grid plc (NGG) - Canvas Business Model: Customer Relationships

You're looking at how National Grid plc manages its relationships with the millions of customers and stakeholders it serves across the UK and US regulated markets. This is fundamentally a relationship built on long-term, regulated contracts, so the focus is less on transactional sales and more on service delivery, compliance, and social responsibility.

Regulated service agreements with long-term price controls define the core of the relationship for transmission and distribution services. Revenue here is not based on volume sold but on allowed revenues set by regulators like Ofgem under the RIIO model, which is structured as Revenues = Incentives + Innovation + Outputs. For the UK Electricity Distribution business, the regulatory gearing is currently at 61%, with a plan to trend back towards the high 60% range by the end of the RIIO-T3 price control period. This framework directly impacts the customer through investment decisions. For instance, the recent £28 billion funding package approved by Ofgem for the UK grid (estimated to rise to £90 billion by 2031) allocates £17.8 billion for gas network maintenance and £10.3 billion to strengthen the electricity transmission network. Ofgem projects this investment will result in a net increase to household bills of around £30 by 2031, but also suggests electricity grid expansion alone will reduce bills by £50 by 2031 due to lower reliance on imported gas.

National Grid Electricity Distribution plc serves 8.1 million homes and businesses, powering over 20 million customers across its network, which spans over 230,000 km of overhead lines and underground cables. These regulated activities mean that variances in service usage can result in revenue over-recoveries or under-recoveries against allowed revenues, which are adjusted in future periods based on the regulatory agreements.

The company maintains specific programs to support vulnerable customers. The Grid for Good Fund is a key relationship touchpoint here. National Grid announced a £13.8 million programme in February 2025 to support struggling UK and US households over three years. A recent allocation within this commitment was £2.3 million (the second phase, following an initial £1.2m in February 2025), aimed at helping more than 16,000 homes. This money flows through expert charities; for example, this latest round helps Citizens Advice support over 3,000 households with tailored energy advice. The Fuel Bank Foundation partnership has supported around 10,500 people since 2021 through emergency fuel vouchers.

For day-to-day interactions, National Grid plc is pushing for digital self-serve tools, largely enabled by smart meter deployment. In the US northeast, National Grid has deployed about 2.4 million smart meters and gas modules over several years. They recently added another 450,000 meters in central and eastern New York, with plans to expand that network to the western side of the state in January 2025. Smart meters provide customers with continuous access to energy usage data, allowing them to monitor usage, get individualized saving tips, and potentially lower their bill. Critically, smart meters allow for starting, stopping, or moving service without needing to set an appointment or wait for technicians, a major convenience improvement over conventional meters.

Stakeholder engagement with independent groups on business plans is extensive, especially ahead of regulatory price control submissions. For the T2 period business plan, National Grid plc conducted its most extensive engagement exercise ever, hearing from over 1,000 individuals representing all main stakeholder segments. This input incorporated the views of over 11,000 household consumers and over 750 business consumers via various channels. Furthermore, for infrastructure projects, historical data from the 2021-22 construction phase shows they wrote to over 36,900 homes and businesses about construction works, supported by six community relations agencies.

Direct communication for planned outages and safety information is a necessary operational relationship. While specific real-time communication metrics for late 2025 aren't available, the infrastructure engagement data shows that the primary channel for both inbound and outbound contact during construction works was email, with telephone being the second highest for inbound contacts. The company also manages complaints, with top reasons historically being light/dust/noise/vibration and traffic management.

Here's a quick view of the key relationship metrics:

Relationship Metric Category	Specific Data Point	Value/Amount
Regulated Investment Framework (UK)	Ofgem Approved Funding Package	£28 billion
Regulated Investment Framework (UK)	Estimated Total by 2031	£90 billion
Regulated Investment Framework (UK)	Allocation to Gas Networks Maintenance	£17.8 billion
Regulated Investment Framework (UK)	Allocation to Electricity Transmission Network	£10.3 billion
Customer Base (NGED)	Homes and Businesses Connected	8.1 million
Customer Base (NGED)	Customers Powered	Over 20 million
Customer Assistance (Grid for Good)	Latest Funding Tranche (Nov 2025)	£2.3 million
Customer Assistance (Grid for Good)	Total Programme Size (Announced Feb 2025)	£13.8 million
Customer Assistance (Grid for Good)	Homes Supported by Latest Tranche	Over 16,000
Digital Tools (US Smart Meters)	Total Smart Meters/Gas Modules Deployed (US NE)	About 2.4 million
Digital Tools (US Smart Meters)	New Meters Added in NY (2025)	Another 450,000
Stakeholder Engagement (T2 Plan)	Household Consumers Consulted	Over 11,000
Stakeholder Engagement (T2 Plan)	Business Consumers Consulted	Over 750

The commitment to social support is quantified by the multi-year, multi-million-pound funding initiatives. The £13.8 million Grid for Good Energy Affordability Fund is a clear financial commitment to easing customer pressure. Also, the regulatory structure itself is a relationship contract, where the current regulatory gearing of 61% informs the capital structure decisions that underpin service reliability.

You can see the digital push through the deployment numbers; 2.4 million smart meters in the US northeast is a substantial base for remote service management. The engagement process for the T2 plan involved direct feedback from over 11,000 households, showing a deliberate effort to incorporate customer voice into the business strategy that dictates future service levels.

• Regulated revenue is based on pre-determined allowed revenues, not just usage.
• The RIIO model emphasizes incentives, innovation, and outputs.
• Smart meters enable remote service changes, avoiding appointments.
• The company aims for dividend growth in line with UK CPIH inflation.
• The total five-year capital investment plan is around £60 billion.

Finance: draft 13-week cash view by Friday.

National Grid plc (NGG) - Canvas Business Model: Channels

National Grid plc channels its energy delivery and services through a mix of regulated physical infrastructure and commercial/digital interfaces across the UK and the US Northeast.

High-voltage transmission networks (UK and US Northeast)

The UK Electricity Transmission (UK ET) segment operates the high voltage electricity transmission network across England and Wales. For the fiscal year ended 31 March 2025, UK ET reported a statutory operating profit of £1,277 million. This channel is focused on enabling the energy transition, with the RIIO-T3 business plan submitted to connect 35 GW of generation and 19 GVA of demand customers. As of FY2025, National Grid plc connected 2.2 GW of renewable generation in the UK, including 1.2 GW from the Dogger Bank wind farm. All six Wave 1 Accelerated Strategic Transmission Investment (ASTI) projects were under construction in FY2025.

In the US, National Grid plc owns and operates high voltage electric transmission lines across Massachusetts, New Hampshire, and Vermont, with the New England segment reporting a statutory operating profit of £1,008 million for FY2025. The Smart Path Connect major transmission project in New York is on track to energise by December 2025.

The core network assets are central to the five-year plan, with a total cumulative capital investment planned of around £60 billion through the five years to 2028/29, driving Group assets towards £100 billion by March 2029.

Network Segment	Jurisdiction	FY2025 Statutory Operating Profit (£ million)	Key Investment/Metric
UK Electricity Transmission (UK ET)	England and Wales	1,277	RIIO-T3 plan to connect 35 GW generation
New England Transmission/Distribution	Massachusetts, New Hampshire, Vermont	1,008	Capital investment in H1 2025/26 was £5,052 million (continuing operations)

Local electricity and gas distribution networks (UK and US Northeast)

National Grid Electricity Distribution plc (NGED) in the UK powers the lives of over 20 million customers, connected to a network serving 8.1 million homes and businesses. NGED also operates the Distribution System Operator (DSO) function. In the US Northeast, National Grid plc serves electricity and gas customers in Massachusetts, New York, and Rhode Island. The company replaced a further 352 miles of leak-prone pipe across its US gas networks in FY2024.

National Grid Ventures (NGV) for interconnectors and commercial operations

National Grid Ventures (NGV) manages commercial assets, including interconnectors. For the six months ended 30 September 2025, NGV reported an operating profit of £121 million from Interconnectors and £91 million from Grain LNG. Total NGV operating profit and post-tax share of JVs for H1 2025/26 was £227 million. NGV committed capital expenditure of around £1 billion over the five years to 2028/29, including maintenance across its six operational interconnectors. In FY2025, NGV capital investment was £378 million. The company agreed the sale of its Grain LNG business for cash proceeds of £1.66 billion. The sale of the National Grid Renewables onshore business in the US was completed on 29 May 2025.

NGV Metric (6 months ended 30 Sept 2025)	Amount (£ million)	FY2025 Capital Investment (£ million)
Interconnectors Operating Profit	121	378 (FY2025)
Grain LNG Operating Profit	91	1,000 million (NGV committed capex to 2028/29)
Total NGV Operating Profit & Post Tax JVs	227	N/A

Digital platforms for customer service and smart meter data

Service quality is tracked through regulatory reporting in the US. For the quarter ended June 30, 2025, the System Average Interruption Frequency Index (SAIFI) for Niagara Mohawk Power Corporation was 0.52 outages per customer per year, against a target of less than or equal to 1.08. The Customer Average Interruption Duration Index (CAIDI) for the same period was 2.03 average hours per interruption, against a target of less than or equal to 2.10. Furthermore, the Distribution and sub-Transmission projects metric was 88.7% YTD through 06/30/2025.

Direct field service teams for maintenance and emergency response

Field service activity is reflected in investment figures for asset condition and maintenance. Capital investment in H1 2025/26 increased by 12% relative to the prior year period, driven by asset condition projects across US networks and UK Electricity Transmission. In FY2025, National Grid plc invested almost £10 billion across the Group.

• UK Electricity Distribution supports over 7,100 direct jobs.
• The company is securing the supply chain for more than three-quarters of its £60 billion five-year investment plan.

National Grid plc (NGG) - Canvas Business Model: Customer Segments

You're looking at the core groups National Grid plc serves across its regulated footprint in the UK and the US Northeast as of late 2025. These segments drive the massive capital investment plans we see.

Regulated customers: Residential, commercial, and industrial end-users in the UK and US Northeast

The sheer scale of the customer base in the regulated distribution networks is substantial. In the UK Electricity Distribution business, National Grid plc serves 8.1 million homes and businesses, which powers over 20 million customers. In the US, specifically across New York and Massachusetts, the company is responsible for delivering energy and customer service to approximately 6 million accounts.

The UK Electricity Distribution segment is broken down across four main areas:

• NGED South West: 1.7 million connections.
• NGED South Wales: 1.2 million connections.
• NGED East Midlands: 2.7 million connections.
• NGED West Midlands: 2.5 million connections.

For the transmission network upgrades under the RIIO-T3 plan, National Grid plc is planning to directly connect 19 GVA of demand customers in the UK. To give you a sense of the emerging industrial demand, data centers in the UK are projected to account for up to 9 percent of electricity demand by 2035, up from 2.6 percent today. One specific transmission project, the Uxbridge Moor substation, is set to deliver 1.8GW of new capacity to support over a dozen new data centers.

Energy generators: Offshore wind and solar farms needing grid connection

Connecting new, large-scale generation is a primary focus for the transmission business. In the fiscal year ending March 2025, National Grid plc connected 2.2 GW of renewable generation in the UK, which included 1.2 GW specifically from the Dogger Bank offshore wind farm. Across both the Transmission and Distribution networks in the UK for that same year, the company connected a total of 1.6 GW to Transmission and 0.6 GW to Distribution from renewable sources. The Great Grid Partnership is targeting connections of 50 GW of offshore wind by 2030. In the US Northeast, the Revolution Wind project in Rhode Island and Connecticut represents 704 MW of planned offshore wind capacity.

Here is a look at the generation connection targets and recent capacity additions:

Metric	Timeframe/Period	Value
UK Electricity Transmission Direct Generation Connection Target (RIIO-T3)	To March 2031	35 GW
UK Offshore Wind Connection Target (Great Grid Partnership)	By 2030	50 GW
UK Renewable Generation Connected (FY2024/25 Total)	FY2024/25	2.2 GW
Revolution Wind Capacity (US Northeast)	Projected	704 MW

Other utilities and system operators using the transmission network

While National Grid plc divested the UK Electricity System Operator (ESO) on October 1, 2024, the transmission network remains a shared asset. The UK Electricity Transmission business plan for RIIO-T3 includes provisions to avoid £12 billion of constraint costs, which is directly related to efficient network use by all parties, including generators and large users. The plan to reinforce and expand the grid involves 17 ASTI electricity transmission projects.

Large-scale industrial users requiring high-capacity connections

This segment includes major industrial users and the rapidly growing data center sector. In the UK Electricity Distribution network during 2024/25, National Grid plc connected 208 large demand projects, defined as those over 1 MW. The UK transmission network is preparing for significant new demand, with the RIIO-T3 plan aiming to connect 19 GVA of demand customers. Specifically, the development of AI Growth Zones, such as the one in the north-east of England, is expected to unlock £30 billion of investment, with National Grid working to connect 1.1 GW of demand across that zone alone.

National Grid plc (NGG) - Canvas Business Model: Cost Structure

You're looking at the hard costs National Grid plc incurs to keep the lights on and the gas flowing across its massive regulated asset base. This structure is dominated by long-term investment and the associated debt servicing.

Capital expenditure is a massive, planned outlay, directly tied to regulatory commitments like the Accelerated Strategic Transmission Investment (ASTI) projects and network resilience upgrades across the US and UK.

• Capital expenditure recorded in FY2025: £9,847 million.

Operating costs cover the day-to-day running of the networks, which includes everything from paying the engineers to procuring energy for balancing services. These costs are heavily influenced by pass-through items governed by regulatory frameworks.

Cost Component Category	FY2025 Statutory Amount (£m)
Operating costs (Continuing Operations)	(£13,444)
Network maintenance, labor, and energy procurement	Included within Operating costs

The sheer scale of the asset base means depreciation and amortization is a significant, non-cash charge reflecting the wear and tear on billions of pounds worth of infrastructure.

• Depreciation, amortisation and impairment (Continuing Operations) for FY2025: £2,175 million.

Servicing the debt required to fund this investment is a major cash outflow. National Grid plc carries substantial leverage to finance its regulated asset value growth.

• Net debt as of September 30, 2025: £41.8 billion.
• Statutory net finance costs (FY2025): £1,357 million.

Finally, there are the costs associated with operating within a heavily regulated environment, which includes fees and compliance expenditures necessary to maintain licenses to operate in key jurisdictions.

• Regulatory compliance and license fees (Ofgem, NYPSC) are a necessary, ongoing cost.

Finance: draft 13-week cash view by Friday.

National Grid plc (NGG) - Canvas Business Model: Revenue Streams

You're looking at the core money-making engine for National Grid plc as of late 2025, which is heavily weighted toward regulated network charges. This is the bedrock of their revenue, driven by the assets they own and operate across the UK and US.

The primary revenue source comes from regulated transmission and distribution charges (tariffs) in the UK and US. These charges are directly linked to the size of the asset base they are allowed to operate, known as the Regulated Asset Base (RAB) or Rate Base. National Grid plc reported that the Group asset growth was around 10% in the fiscal year ending March 31, 2025, supported by record capital investment of almost £10 billion (specifically £9,847 million) during that period. This investment fuels the growth in the RAB, which in turn drives regulated returns.

The total Group asset base, or Rate Base, stood at £67.50 billion as of March 31, 2025. This massive base is segmented across their key regulated operations, which generate the bulk of their predictable income.

Here's a quick look at the key components of that asset base that generate these regulated revenues:

• UK Electricity Transmission RAV: £20.57 billion
• UK Electricity Distribution RAV: £12.24 billion
• New York and New England Networks: The remainder of the £67.50 billion base

The financial results for the fiscal year ending March 31, 2025, clearly show the strength of this regulated model, even with a dip in gross revenue. The Underlying operating profit for National Grid plc in FY2025 was reported at £5,357 million, up 12% from the prior year's £4,773 million. This profit growth is directly tied to the regulated asset growth.

You can see the key financial metrics for the period in this table:

Metric (Continuing Operations)	FY2025 Amount	FY2024 Amount	Percentage Change (FY2025 vs FY2024)
Underlying Operating Profit (£m)	5,357	4,773	12%
Statutory Operating Profit (£m)	4,934	4,475	10%
Gross Revenue (£m)	18,378	19,850	-7%
Capital Investment (£m)	9,847	8,235	20%

Revenue from National Grid Ventures (NGV) is a smaller, more volatile component, representing non-regulated activities, including interconnectors. For FY2025, the statutory operating profit from National Grid Ventures was only £5 million, a sharp drop from £558 million the year before, primarily due to lower interconnector revenues as market spreads normalized. However, National Grid plc maintains a long-term commitment to this area, with a committed capital expenditure of around £1 billion over the five years to 2028/29, which includes maintenance across the six operational interconnectors.

Another significant, though non-recurring, cash inflow comes from proceeds from divestments, which streamlines the business back to its core networks focus. National Grid plc agreed to sell its Grain LNG business in August 2025 for total proceeds of approximately £1.66 billion, including a pre-completion dividend. This follows the completion of the sale of their NG Renewables business in May 2025. These sales provide capital to fund the core network investment plan.

For the upcoming year, National Grid plc expects underlying net revenue to increase by over £250 million compared to 2024/25, which they attribute primarily to higher allowances resulting from the growing RAB and indexation.