National Grid Publishes RIIO-T3 Business Plan
Ticker: NMPWP · Form: 6-K · Filed: Dec 18, 2024 · CIK: 1004315
Sentiment: neutral
Topics: regulatory-filing, business-plan, infrastructure
TL;DR
National Grid dropped its RIIO-T3 plan for electricity transmission, detailing future investments.
AI Summary
National Grid plc announced the publication of its RIIO-T3 business plan on December 18, 2024. This plan outlines the company's strategy and investment proposals for the electricity transmission network in Great Britain for the period starting April 1, 2026. The plan details significant investment to maintain and upgrade critical infrastructure.
Why It Matters
This plan is crucial as it details National Grid's proposed investments and operational strategies for its electricity transmission network, impacting future energy infrastructure and consumer costs.
Risk Assessment
Risk Level: low — The filing is an informational announcement of a business plan publication, not a financial event with immediate market-moving implications.
Key Players & Entities
- NATIONAL GRID plc (company) — Filer of the report
- RIIO-T3 (document) — Name of the business plan
- 18 December 2024 (date) — Date of the filing and plan publication
- April 1, 2026 (date) — Start date of the RIIO-T3 regulatory period
FAQ
What is the RIIO-T3 business plan?
The RIIO-T3 business plan is National Grid's strategy and investment proposal for its electricity transmission network in Great Britain, covering the period from April 1, 2026.
When was the RIIO-T3 business plan published?
The RIIO-T3 business plan was published on December 18, 2024.
What regulatory body oversees the RIIO framework?
The RIIO framework is overseen by Ofgem, the UK's energy regulator.
What is the primary focus of the RIIO-T3 plan?
The plan focuses on maintaining and upgrading the electricity transmission network to ensure security of supply and facilitate the transition to a low-carbon economy.
What is the filing type and date?
The filing type is a Form 6-K, filed on December 18, 2024.
Filing Stats: 2,100 words · 8 min read · ~7 pages · Grade level 20 · Accepted 2024-12-18 12:39:48
Filing Documents
- a4840q.htm (6-K) — 49KB
- 0001654954-24-015693.txt ( ) — 50KB
From the Filing
GRID: RIIO-T3 BUSINESS PLAN PUBLISHED a4840q       UNITED STATES   SECURITIES AND EXCHANGE COMMISSION Washington D.C. 20549     FORM 6-K     REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934   Date: 18 December 2024   Commission File Number: 001-14958       NATIONAL GRID plc   (Translation of registrant’s name into English)   England and Wales   (Jurisdiction of Incorporation)        1-3 Strand, London, WC2N 5EH, United Kingdom (Address of principal executive office)       Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. ☒   Form 20-F       ☐   Form 40-F   Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):   ☐   Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):   ☐   Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3- 2(b) under the Securities Exchange Act of 1934.   ☐   Yes     ☒   No   If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): n/a           EXHIBIT INDEX   Exhibit No.     Description   99.1   Exhibit 99.1 Announcement sent to the London Stock Exchange on 18 December 2024   — National Grid: RIIO-T3 Business Plan published   Exhibit 99.1   18 December 2024                                                                                               National Grid plc   RIIO-T3 Business Plan published: framework to deliver most significant step forward in the UK's transmission network for a generation   National Grid has today published the RIIO-T3 business plan for its National Grid Electricity Transmission (NGET) business, covering the period from April 2026 to March 2031.   The submission follows extensive consultation with national, regional and local stakeholders.   Investing at an unprecedented level   The plan includes   an unprecedented level of investment   of up to £35 billion over the five years to March 2031, including:   ●          baseline investment of over £11 billion   to maintain and upgrade our existing networks, alongside construction works for the first three of our Accelerated Strategic Transmission Investment (ASTI) projects where project assessments have been approved; and   ●          pipeline investment of around £24 billion, which includes around £15 billion to increase network capacity, most of which relates to the 14 further confirmed ASTI   projects. Pipeline investment also includes additional   potential projects that may be triggered by the UK government's evolving priorities.   Delivering a future-proofed, innovative and reliable transmission network   Altogether this ambitious plan enables NGET to:   ●          maintain   world leading 99.9999% reliability levels;   ●          develop and deliver major   network reinforcement and   expansion projects, including the 17 ASTI projects, and   the upgrade of c.3,500km of our existing overhead lines, nearly doubling the amount of power we can transfer around the country;   ●          deploy innovative technologies such as power control devices, and dynamic line ratings to maximise the capacity of our existing infrastructure;   ●          connect 35GW of new generation and storage, and 19GVA of large demand customers such as data centres and gigafactories, as wel