Subsidiary undertakings, joint ventures and associates (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interests In Other Entities [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Disclosure of interests in subsidiaries, joint ventures and associates | Incorporated in England and Wales Registered office: 1–3 Strand, London, WC2N 5EH, UK Birch Sites Limited Carbon Sentinel Limited Icelink Interconnector Limited Lattice Group Limited NatgridTW1 Limited National Grid (US) Holdings Limited National Grid (US) Investments 4 Limited National Grid (US) Partner 1 Limited National Grid Carbon Limited National Grid Commercial Holdings Limited National Grid Continental Limited National Grid Distributed Energy Limited National Grid Electricity Group Trustee Limited National Grid Electricity Transmission plc National Grid Energy Metering Limited National Grid Holdings Limited National Grid Holdings One plc National Grid Hydrogen Limited National Grid IFA 2 Limited National Grid Interconnector Holdings Limited National Grid Interconnectors Limited National Grid International Limited National Grid Lion Link Limited National Grid Nautilus Limited National Grid North Sea Link Limited National Grid Offshore Limited National Grid Partners Limited National Grid Plus Limited National Grid Property Holdings Limited National Grid Twelve Limited National Grid Twenty Eight Limited National Grid Twenty Seven Limited National Grid UK Limited National Grid Ventures Limited National Grid Viking Link Limited National Grid William Limited NGG Finance plc Ngrid Intellectual Property Limited Port Greenwich Limited Registered Address: Avonbank, Feeder Road, Bristol, BS2 0TB, United Kingdom Central Networks Trustees Limited [a] Kelston Properties 2 Limited National Grid Electricity Distribution (East Midlands) plc National Grid Electricity Distribution (South Wales) plc National Grid Electricity Distribution (South West) plc National Grid Electricity Distribution (West Midlands) plc National Grid Electricity Distribution Generation Limited National Grid Electricity Distribution Holdings Limited National Grid Electricity Distribution Investments Limited National Grid Electricity Distribution Midlands Limited National Grid Electricity Distribution Network Holdings Limited National Grid Electricity Distribution plc National Grid Electricity Distribution Property Investments Limited National Grid Helicopters Limited National Grid Telecoms Limited South Wales Electricity Share Scheme Trustees Limited Western Power Pension Trustee Limited WPD WEM Holdings Limited WPD WEM Limited 34. Subsidiary undertakings, joint arrangements and associates cont. Registered Address: Netley Old Hall Farm, Dorrington, Shrewsbury, United Kingdom, SY5 7JY Sheet Road Management Company Limited (51%) Registered Address: Shire Hall, PO Box 9, Warwick, CV34 4RL, United Kingdom Warwick Technology Park Management Company (No.2) Limited (60.56%) In liquidation Registered Address: C/O Interpath Ltd, 10 Fleet Place, London, EC4M 7RB NGC Employee Shares Trustee Limited Incorporated in the US Registered Address: Corporation Service Company, 251 Little Falls Drive, Wilmington DE 19808, United States Doorstep Community LLC [b] Granite State Power Link LLC [b] KeySpan CI Midstream Limited KeySpan Energy Services Inc. KeySpan International Corporation KeySpan MHK, Inc. KeySpan Midstream, Inc. KSI Contracting, LLC [b] KSI Electrical, LLC [b] KSI Mechanical, LLC [b] Metrowest Realty LLC [b] National Grid Development Holdings Corp. National Grid Glenwood Energy Center LLC [b] National Grid LNG LLC [b] National Grid North America Inc. National Grid Partners LLC [b] National Grid Port Jefferson Energy Center LLC [b] National Grid Renewables, LLC [b] National Grid Services Inc. National Grid US LLC [b] National Grid USA [c] NGNE LLC [b] NGV H2 Generation LLC [b] NGV H2 Holdings LLC [b] NGV OSW Holdings, LLC [b] NGV US Distributed Energy Inc. NGV US Transmission Inc. NGV US, LLC [b] Niagara Mohawk Energy, Inc. North East Transmission Co., Inc. Opinac North America, Inc. Philadelphia Coke Co., Inc. Registered Address: Corporation Service Company, 80 State Street, Albany NY 12207-2543, United States Grid NY LLC [b] KeySpan Energy Corporation KeySpan Gas East Corporation [c] KeySpan Plumbing Solutions, Inc. Land Management & Development, Inc. Landwest, Inc. National Grid Electric Services LLC [b] National Grid Energy Trading Services LLC [b] National Grid Engineering & Survey Inc. National Grid Generation LLC [b] National Grid Generation Ventures LLC [b] National Grid IGTS Corp. National Grid Partners Inc. Niagara Mohawk Holdings, Inc. Niagara Mohawk Power Corporation [c] NM Properties, Inc. Port of the Islands North, LLC [b] The Brooklyn Union Gas Company [c] Upper Hudson Development, Inc. Registered Address: Corporation Service Company, 84 State Street, Boston MA 02109, United States Boston Gas Company EUA Energy Investment Corporation Massachusetts Electric Company [c] Nantucket Electric Company National Grid NE Holdings 2 LLC [b] National Grid USA Service Company, Inc. NEES Energy, Inc. New England Energy Incorporated New England Hydro Finance Company, Inc. (53.704%) New England Hydro-Transmission Electric Company, Inc. (53.704%) New England Power Company [c] Transgas Inc. Wayfinder Group, Inc. 34. Subsidiary undertakings, joint arrangements and associates cont. Registered Address: Corporation Trust Company, 1209 Orange Street, Wilmington DE 19801, United States Mystic Steamship Corporation Registered Address: 100 Bank Street, Suite 630, Burlington, Chittenden County VT 05401, United States National Grid Insurance USA Ltd Registered Address: Corporation Service Company, 10 Ferry Street S313, Concord NH 03301, United States Broken Bridge Corp. New England Electric Transmission Corporation New England Hydro-Transmission Corporation (53.704%) Registered Address: Corporation Service Company, 222 Jefferson Boulevard, Suite 200, Warwick RI 02888, United States Newport America Corporation Incorporated in the Isle of Man Registered office: Third Floor, St George’s Court, Upper Church Street, Douglas, IM1 1EE, Isle of Man, UK National Grid Insurance Company (Isle of Man) Limited Incorporated in Luxembourg Registered office: 412F, Route d’Esch, L-2086, Luxembourg, Grand Duchy of Luxembourg National Grid Luxembourg SARL Incorporated in Singapore Registered office: 9 Raffles Place, #26-01, Republic Plaza, Singapore 048619 NG Holdings Two PTE. Ltd* *Entity is tax resident in the UK Joint ventures A list of the Group’s joint ventures as at 31 March 2026 is given below. All joint ventures are included in the Group’s financial statements using the equity method of accounting. Incorporated in England and Wales
Incorporated in the US
Joint operations A list of the Group’s incorporated joint operations as at 31 March 2026 is given below. All joint operations are included in the Group’s financial statements under IFRS 11 Joint arrangements. Incorporated in England and Wales
34. Subsidiary undertakings, joint arrangements and associates cont. Associates A list of the Group’s associates as at 31 March 2026 is given below. Unless otherwise stated, all associates are included in the Group’s financial statements using the equity method of accounting. Incorporated in England and Wales
Incorporated in the US
Other investments A list of the Group’s other investments as at 31 March 2026 is given below. Incorporated in England and Wales
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| Disclosure of subsidiaries taking advantage of audit exemption under section 479A of Companies Act 2006 | The following UK subsidiaries will take advantage of the audit exemption set out within section 479A of the Companies Act 2006 supported by guarantees issued by National Grid plc over their liabilities for the year ended 31 March 2026:
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