What NATIONALGRID does

National Grid plc is a UK-headquartered regulated utility company that owns and operates electricity and gas transmission and distribution infrastructure across the United Kingdom and the United States. The company runs the high-voltage national electricity transmission network in England and Wales through its Electricity Transmission business, distributes electricity across UK regional networks through its Electricity Distribution unit, and serves 4.2 million customers in New York and 3.2 million customers in Massachusetts through regulated US utility subsidiaries. Group headquarters are in London, with US operations headquartered in Hicksville, New York, and the company is publicly listed on the London Stock Exchange under ticker NG.

The company's revenue model is anchored in regulated monopoly franchises: tariffs, allowed returns, and investment plans are determined by Ofgem in the UK and by state regulators (NY, MA) in the US. National Grid's growth program is anchored on The Great Grid Upgrade in the UK, the Upstate Upgrade in New York, and the Massachusetts Grid Modernization program, supported by up to £35 billion of investment under the Ofgem RIIO-T3 framework for April 2026 to March 2031. Its technology stack includes proprietary HVDC systems that power large-scale interconnectors (LionLink between the UK and the Netherlands, and Eastern Green Link 1 and 2 within Great Britain), the Visual Impact Provision environmental mitigation system, and an AI-powered wildfire risk assessment platform developed with Rhizome for its Northeast US service territory.

The company also operates a commercial, non-regulated arm, National Grid Ventures, focused on competitive electricity transmission, electricity interconnectors, and conventional generation, alongside an innovation and venture capital unit, National Grid Partners. Recent strategic activity includes a $1.75 billion investment for a 35% stake in Joulent LLC to serve US data center and AI infrastructure load, the acquisition of Western Power Distribution as part of a portfolio repositioning, and partnerships with Network Rail to support rail decarbonization. National Grid serves multiple customer segments spanning residential energy users, commercial and industrial customers, energy generators (including offshore wind developers), and transport infrastructure projects.

Name

NATIONALGRID

Legal name

National Grid plc

Website

https://nationalgrid.com.

Company type

Public

Operating status

Operating

Headcount range

101–250 employees

Short description

National Grid plc is a publicly listed UK- and US-regulated utility company that operates the high-voltage electricity transmission network across England and Wales and distributes electricity and gas to 7.4 million combined customers in New York and Massachusetts.

Ownership category

akta.pro rank

Product category

Electric Utility Transmission and Distribution

NAICS

Electric Power Transmission, Control, and Distribution (22112), Electric Bulk Power Transmission and Control (221121), Natural Gas Distribution (22121), Electric Power Generation, Transmission and Distribution (2211)

SIC

Electric Services (4911), Electric, Gas & Sanitary Services (4900)

akta.pro primary industry

HV Transmission Asset Owners (Transmission Companies/Transcos) (EUADAAAC)

akta.pro secondary industries

Electric Distribution System Owners (Wires-Only Companies) (EUADABAI), Electrical Systems O&M (Substations, Transformers, Switchgear, Protection & Controls) (EUAMAGAH), Substations, Transformers & Grid Step-Up Facilities (EHV Substations, GSU Transformers) (EUAMAFAE), Grid-Scale Power Conversion & Interconnection (PCS, Grid-Tie Inverters, Converter Stations) (IMAGAAAI)

Keywords

• Electricity transmission services
• Electricity distribution services
• Energy grid infrastructure
• Utility network operations
• Regulated energy utilities

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Technology or R&D, Supply Chain, Others

Distribution channels3 records

Marketing channels4 records

Core offering

National Grid plc owns and operates the regulated high-voltage electricity transmission network across England and Wales, regional electricity distribution networks in the UK, and electricity and natural gas distribution utilities serving approximately 4.2 million customers in New York and 3.2 million in Massachusetts. Through National Grid Ventures, it also operates competitive interconnectors and HVDC subsea links (e.g., LionLink, Eastern Green Link 1 and 2) connecting the UK to neighboring countries and offshore wind generation.

Product overview

National Grid is a major energy utility company operating electricity and gas transmission and distribution networks in the UK and US. The company operates through several business units including Electricity Transmission (operating the high-voltage national grid in England and Wales), Electricity Distribution (distributing electricity to end consumers), National Grid Ventures (commercial operations including interconnectors and competitive transmission), and National Grid Partners (innovation and venture investments). Key infrastructure initiatives include The Great Grid Upgrade program, the Upstate Upgrade in New York serving 4.2 million customers, and Massachusetts Grid Modernization serving 3.2 million customers. Notable projects include LionLink (UK-Netherlands interconnector), Eastern Green Link 1 and 2 (HVDC offshore connections), and the London Power Tunnels one billion pound underground cable project.

Differentiator

Problem solved

Functional benefit

Brands

• National Grid Ventures: The commercial arm of National Grid focused on competitive electricity transmission, electricity interconnectors, and conventional generation.
• National Grid Partners
• Grid for Good
• The Great Grid Upgrade

Products and services

• UK Electricity Transmission
• UK Electricity Distribution
• US Electricity and Natural Gas Distribution
• National Grid Ventures (Interconnectors and Competitive Transmission)
• National Grid Partners
• Engineering Consultancy and Asset Maintenance (Deeside Centre for Innovation)
• The Great Grid Upgrade
• Upstate Upgrade (New York)
• Massachusetts Grid Modernization
• LionLink
• Eastern Green Link 1 (EGL1)
• Eastern Green Link 2 (EGL2)
• London Power Tunnels

Quantifiable outcome

• 4.2 million customers served in New York State
• +3 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• Joulent LLCcoreStrategic or Co-development Partner · 1 January 2025National Grid Ventures (NGV), the commercial arm of National Grid plc, agreed to invest $1.75 billion for a 35% stake in Joulent LLC. This represents a major strategic investment to accelerate power solutions for US data centers and AI infrastructure.
• Eastern Green Link 1 ConsortiumcoreStrategic or Co-development Partner · 1 January 2025Partnership to develop Eastern Green Link 1 (EGL1), a two gigawatt (GW) high voltage direct current (HVDC) electrical superhighway between Torness area in East Lothian, Scotland and Hawthorn Pit in County Durham, England.
• Eastern Green Link 2 ConsortiumcoreStrategic or Co-development Partner · 1 January 2025Partnership to develop Eastern Green Link 2 (EGL2), a 2GW high voltage direct current (HVDC) electrical superhighway cable link to be built between Peterhead in Aberdeenshire, Scotland and Drax in North Yorkshire, England.
• RhizomecoreTechnology or Integration · 1 January 2025National Grid launched an AI-Powered Wildfire Risk Initiative in partnership with Rhizome to improve wildfire risk assessment and safety capabilities across the Northeast service territory as wildfire risk increases in the region.
• Northern Powerhouse PartnershipminorStrategic or Co-development Partner · 1 January 2025National Grid joined the Northern Powerhouse Partnership to support investment, skills, jobs and supply chain growth in the Northern England region.
• Feeding NYminorOthersPartnership with Feeding NY, a program sponsored by the United Nations Global Initiative, to provide 2,500 Thanksgiving Meal Boxes for communities in New York.
• Network RailcoreStrategic or Co-development PartnerPartnership with Network Rail to support the decarbonisation of its network through projects like Bramley Network Rail Connection, installing 400/25kV Supergrid transformers and connecting to trackside substations.

Scale indicators5 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Iberdrola: Global T&D utility with parallel UK presence through Scottish Power and US presence through Avangrid. Iberdrola is the closest direct peer in terms of regulated T&D operations across the UK and US Northeast and a similar renewable/integration strategy.
• Eversource Energy: US Northeast regulated utility serving Massachusetts, Connecticut and New Hampshire. Direct competitor to National Grid in Massachusetts with overlapping electric and gas distribution, transmission and grid modernization programs.
• SSE plc: UK-listed energy utility operating electricity transmission and distribution networks in the north of Scotland and southern England, plus renewable generation. Highly comparable UK regulated T&D business mix with similar offshore wind and grid buildout exposure.
• Consolidated Edison: Regulated investor-owned utility serving New York City and Westchester. Direct geographic and operational overlap with National Grid's New York operations in electric and gas distribution and transmission.
• Avangrid (Iberdrola): US subsidiary of Iberdrola operating regulated electric and gas utilities in New York, Connecticut, Massachusetts and Maine. Direct geographic and operational overlap with National Grid's US footprint, including direct competition in Massachusetts and adjacent New York territories.
• Scottish Power (Iberdrola): UK subsidiary of Iberdrola operating transmission, distribution and generation in Scotland and the north of England. Direct UK T&D peer with comparable renewable and grid investment programs.

Broad incumbents

• Duke Energy: Large US regulated utility holding company with regulated electric T&D across the Carolinas, Florida, Indiana and Ohio. Comparable regulated utility model, multi-state capex programs and grid modernization exposure, though US-only.
• Enel: Global multi-national utility with regulated networks and renewable generation across Europe, the Americas and beyond. Comparable diversified regulated + renewables platform and similar exposure to grid buildout and electrification.
• NextEra Energy: Largest US renewable energy generator and parent of Florida Power & Light, a regulated T&D utility. Comparable scale regulated utility plus leading renewables platform, making it relevant for the integrated utility + energy transition thesis.
• E.ON: Major European regulated energy utility with networks, distribution and customer solutions across Germany, the UK and other markets. Comparable European regulated T&D operator with similar grid modernization and electrification drivers.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/nationalgrid
• Facebookfacebook.com/nationalgrid
• LinkedInlinkedin.com/company/nationalgrid

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about NATIONALGRID