National Grid Underlying Profit Rises to £3.86 Billion

The Tip Desk · June 3, 2026 · 1 min read

The energy utility reported a total underlying operating profit of £5.68 billion for the year ended 31 March 2026

National Grid Plc, an energy utility, reported a total underlying operating profit of £5.68 billion for the year ended 31 March 2026, up from £5.36 billion in the previous year. The company's profit after tax on an underlying basis rose to £3.86 billion from £3.46 billion.

Growth was driven largely by the UK Electricity Transmission segment, where underlying profit rose to £1.68 billion from £1.43 billion. In the US, the New York segment saw underlying profit increase to £1.71 billion, compared to £1.45 billion in the prior year.

Other segments showed mixed trajectories. The UK Electricity Distribution business saw underlying profit rise slightly to £1.24 billion from £1.20 billion. However, the New England segment's underlying profit fell to £866 million from £924 million. National Grid Ventures reported an underlying profit of £327 million, down from £380 million in the previous period.

Adjusted operating profit, which excludes exceptional items and remeasurements, rose to £5.04 billion from £4.77 billion. Net finance costs on an adjusted basis decreased to £1.27 billion from £1.36 billion.

The company states that future performance is subject to risks including changes in laws or regulations and decisions by governmental bodies or regulators regarding price controls in the UK and rate cases in the US. Other uncertainties include the timing of third-party delivery of new generation projects and potential network failures due to adverse weather or climate change.