National Grid PLC ADR

National Grid plc owns and operates electricity transmission and distribution networks in the United Kingdom and gas and electricity distribution and transmission networks in the northeastern United States. Its UK operations include the high-voltage electricity transmission network across England and Wales (UK Electricity Transmission) and electricity distribution networks serving approximately 20 million customers across the Midlands, South West England and South Wales (UK Electricity Distribution). In the US, the company operates regulated electric and gas utilities in New York (including upstate New York through Niagara Mohawk and downstate gas distribution through KEDNY and KEDLI) and New England (Massachusetts Gas, Massachusetts Electric, New England Power, and Canadian Interconnector), serving millions of residential, commercial, and industrial customers. National Grid also operates through its Ventures division, which includes a portfolio of six European electricity interconnectors linking the UK to continental markets, and generation assets on Long Island operated on behalf of the Long Island Power Authority. The company recently completed divestments of its National Grid Renewables business and Grain LNG terminal, sharpening its focus on regulated energy network infrastructure. National Grid's investment programme centres on expanding transmission capacity to accommodate renewable energy generation, replacing ageing gas infrastructure, deploying smart meters, and building new high-voltage direct current interconnector links. The company is regulated by Ofgem in the UK under the RIIO framework and by state public utility commissions and FERC in the US. Updated May 14, 2026