You may be aware that National Grid recently announced three significant transactions:

The proposed acquisition of Western Power Distribution (WPD) in the UK
The sale of the Rhode Island business in the US
The intention to initiate the sale of a majority stake in the UK Gas Transmission business
The Trustee understands that these transactions are intended to create a number of strategic benefits for the Company:

They respond to the increasing growth of electricity in the energy transition
They make National Grid the UK’s largest transmission and distribution owner
They put National Grid at the forefront of delivering net zero across the electricity sector
The Trustee further understands that National Grid’s focus as a Group will be to continue enabling the energy transition for all and continuing the decarbonisation of gas.

The Trustee is engaging with National Grid and is working closely with its professional advisers to monitor and assess the situation in the context of its duties.

It is important to note that pensions are continuing to be paid in the usual way.

More detailed information about the Company transactions can be found on the National Grid website.