Innovation is integral to both our core regulated business in the UK and US, and National Grid Ventures.
In our core regulated business, innovation is an important factor in continuous improvement. We aim to make things better for customers and communities, while being more agile, flexible, responsive and maximising value. Our innovations are grounded in making tangible and necessary improvements:
- Increasing efficiency to minimise costs for energy customers
- Maintaining maximum reliability of energy supply
- Facilitating the transition to a decarbonised energy system
- Improving our customers’ experience
- Improving safety
We have a unique position at the heart of the energy system. This gives us the opportunity to facilitate engagement between people and organisations to boost collaboration and find and implement solutions.
The following case studies provide more details:
And it's not just about technological innovations – we develop commercial innovations too. The following case studies provide more details:
With the creation of National Grid Ventures, launched in April 2017, we are broadening the scope of our innovation and developing new ways of thinking.
In the energy sector, major challenges to traditional business models are emerging and disruption from new technology is now commonplace. Political, social, economic and technological developments are contributing to the growth of renewables and distributed energy, which opens up new business opportunities. We're also seeing new market segments emerge, as businesses are formed to fill the gaps between traditional utilities and their customers.
We have a clearly defined innovation strategy to drive technological growth for National Grid Ventures. We are developing opportunities and seeking new partnerships.