v3.24.1.1.u2
Commitments and contingencies (Tables)
 12 Months Ended
Mar. 31, 2024
Disclosure of contingent liabilities [abstract]  
Schedule of capital commitments and contingent liabilities
2024
2023
£m
£m
Future capital expenditure
Contracted for but not provided
3,329
3,035
Energy purchase commitments1
Less than 1 year
1,244
1,391
In 1 to 2 years
982
985
In 2 to 3 years
1,062
1,057
In 3 to 4 years
941
912
In 4 to 5 years
866
929
More than 5 years
9,080
13,920
14,175
19,194
Guarantees
Guarantee of subleases for US properties (expire up to 2040)
67
219
Guarantees of certain obligations of Eastern Green Link Joint Operations (various expiry dates)
2,465
—
Guarantees of certain obligations of Grain LNG (expire up to 2025)
32
32
Guarantees of certain obligations of National Grid North Sea Link Limited (various expiry dates)
271
281
Guarantees of certain obligations of St William Homes LLP (various expiry dates)
44
44
Guarantees of certain obligations of National Grid IFA 2 Limited (expected expiry 2024)
121
144
Guarantees of certain obligations of National Grid Viking Link Limited (expected expiry 2024)
243
1,185
Other guarantees and letters of credit (various expiry dates)
123
321
3,366
2,226
1.Energy purchase commitments relate to contractual commitments to purchase electricity or gas that are used to satisfy physical delivery requirements to our customers or for energy
that we use ourselves (i.e. normal purchase, sale or usage) and hence are accounted for as ordinary purchase contracts (see note 32(f)). Details of commodity contract derivatives that
do not meet the normal purchase, sale or usage criteria, and hence are accounted for as derivative contracts, are shown in note 17(b).