This will focus on the Transmission and Electricity Distribution & Generation businesses. It will also provide an update on our capital investment plans. The presentation will outline an additional £2bn of investment in the period to 2012 which will be remunerated under current regulatory agreements, in addition to the £16bn already announced. This equates to a total investment programme of over £3bn per year. Beyond 2012, our expectation is that investment will continue at least at that level for the foreseeable future.
The presentation will demonstrate National Grid’s strong financing track record. It will also show the progress being made in implementing the new global operating model and provide an update on our constructive dialogue with regulators as we seek to meet the challenges presented by climate change and security of supply.
Presentations will be made by Chief Executive, Steve Holliday, and his executive team.
Steve Holliday said “National Grid is extremely well positioned to deliver low risk, organic growth as it continues to invest and earn good returns from its regulated businesses. We are central to the delivery of the energy networks of the future and are working closely with government and regulators to meet this challenge.”
The seminar will begin at 10.30 am and will be held at Deutsche Bank, 1 Great Winchester Street, Winchester House, EC2N 2DB. The seminar will close at 16.00.
A live webcast of the seminar will be available at www.nationalgrid.com/corporate/Investor+Relations/. A replay of the webcast will be available on this website later today. Conference call details for the seminar are:
UK dial in: +44 (0) 203 023 4488
US dial in: +1 866 966 5335
Password: National Grid
As previously announced, National Grid’s half-year results will be announced on Thursday, 20 November 2008.
CONTACTS
Investors
David Rees +44 (0)20 7004 3170 +44 (0)7901 511322 (m)
George Laskaris +1 718 403 2526 +1 917 375 0989 (m)
Richard Smith +44 (0)20 7004 3172 +44 (0)7747 006321 (m)
Victoria Davies +44 (0)20 7004 3171 +44 (0)7771 973447 (m)
Media
Clive Hawkins +44 (0)20 7004 3147 +44 (0)7836 357173 (m)
Chris Mostyn +1 718 403 2747 +1 347 702 3740 (m)
Brunswick
Paul Scott +44 (0)20 7396 5333 +44 (0)7974 982333 (m)