National Grid plc (NGG) Q2 2025 Earnings Call Transcript

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National Grid plc (NGG) Q2 2025 Earnings Call Transcript

Angela Broad - Director, Investor Relations

John Pettigrew - Chief Executive Officer

Andy Agg - Chief Financial Officer

Good morning, and welcome to National Grid's Half Year Results Presentation. I'm Angela Broad, Head of Investor Relations, and it's great to have so many of you on the call today.

Firstly, please kindly of draw your attention to the cautionary statement at the front of the pack. As usual, the Q&A with John and Andy will follow the presentation. [Operator Instructions] All of today's materials are available on our website. And of course for any further queries after the call, please reach out to me or one of the IR team.

So with that, I'd now like to hand you over to our CEO, John Pettigrew. John?

John Pettigrew

Many thanks, Angela, and good morning, everyone. Thank you for joining us today. As ever I'm here with Andy Agg. And once we've been through our respective presentations, we'll of course be very happy to answer your questions.

As you know, in May, we updated our strategy, and announced the actions we'd be taking to make National Grid the preeminent pure play networks business. This marked the beginning of an exciting new area of growth with unmatched visibility on around £60 billion of capital investment in our networks over the next five years and clarity on financing well beyond that.

Over the last six months, the pace of change in our industry

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