National Grid Transco AGM: £70B Investment Plan Meets Climate, Data Center Scrutiny

National Grid Transco (NYSE:NGG) utilized its 2026 yearly wide gathering to outline a grounds concern year, an expanded five-year superior programme and shareholder concerns ranging from clime argumentation to grid connections, information centers and infrastructure security.

Chair Paula Reynolds opened the hybrid gathering astatine King's High School successful Warwick, noting the venue's proximity to National Grid's Warwick campus, location to its U.K. energy transmission concern and National Grid Ventures. Reynolds besides introduced Chief Executive Zoë Yujnovich, who took up the CEO relation connected Nov. 17 aft joining the institution past twelvemonth arsenic CEO designate.

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Yujnovich said her extremity is to physique connected National Grid's existing strategy portion sharpening execution done a model focused connected "Brilliant Basics," "Big Shifts" and "Disciplined Growth." She said the company's intent remains centered connected reliable vigor transportation and concern successful networks needed for economical maturation and the vigor transition.

Record Investment and Five-Year Growth Plan

Yujnovich told shareholders National Grid delivered "a beardown performance" implicit the past year, investing a grounds GBP 11.6 cardinal successful networks and different vigor infrastructure. She said that was 20% higher than the anterior twelvemonth and helped turn the company's plus basal by 10.9%.

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Underlying operating nett roseate to GBP 5.7 billion, portion net per stock accrued 8% astatine changeless currency, successful enactment with guidance. The institution accrued its dividend by 3.8%, successful enactment with U.K. CPIH inflation.

Looking ahead, Yujnovich reiterated National Grid's program to put astatine slightest GBP 70 cardinal implicit the adjacent 5 years, describing it arsenic the largest superior concern programme successful the company's history. She said astir two-thirds of that programme is already covered by regulatory agreements, with transportation mechanisms secured for astir three-quarters of the investment.

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The CEO said the institution expects to link up to 35 gigawatts of caller procreation and 19 gigawatts of caller request to its U.K. transmission web implicit the adjacent 5 years. Demand is expected to travel from homes, businesses, transport, information centers and concern customers.

Yujnovich besides said National Grid expects plus maturation of astir 10% per twelvemonth implicit the adjacent 5 years, underlying net per stock maturation astatine an 8% to 10% compound yearly complaint and continued dividend maturation successful enactment with CPIH inflation. For the existent fiscal year, she said superior concern is expected to emergence by astir 10% to astir GBP 13 billion, with underlying EPS maturation of 13% to 15% from the 2025 to 2026 baseline.