Group 1 - National Grid is characterized as a classic utility with monopoly traits, attracting retail investors [1] - The share is perceived as overvalued by analysts [1]

央视网消息：记者从国家电网了解到，6月10日，新疆哈密到重庆正负800千伏特高压直流输电工程投产送电，这是"十四五"规划首个投产的"沙戈荒"大 型基地外送特高压工程。 据介绍，工程起于新疆，途经甘肃、陕西、四川，最终到达重庆，输电距离2260公里，中间新建新疆巴里坤、重庆渝北两座换流站，输送容量800万千 瓦，总投资286亿元。 6月10日投产送电的"疆电入渝"工程，起点位于新能源富集的新疆哈密，2023年"疆电入渝"工程建设后，这里就提前布局，充分利用本地各类资源优 势，打造国家级能源基地。 哈密到重庆的"疆电入渝"特高压工程全长2260公里，其中甘肃省内的线路是全线跨境最长的。进入甘肃以后，特高压沿河西走廊，要经过一段戈壁沙漠 地带。在这里，工程人员克服风沙等自然环境的挑战，在沙漠中建起一座座电力铁塔。 走进甘肃张掖，顶着风沙沿铁塔行进，脚下只有梭梭草与骆驼刺。茫茫的戈壁之中，工人在这里架起一座座高耸的电力铁塔。 "握不住的流沙"，常被用来形容事物难以把握。而铁塔重达上百吨，地面上站立的部分超过50多米。如何才能站稳脚，沙漠里打地基成了一大难题。 "疆电入渝"工程甘肃段第6标段安全质量业主负责人 董德品： ...

南瑞集团有限公司，成立于1993年，位于南京市，是一家以从事仪器仪表制造业为主的企业。企业注册 资本200000万人民币。通过天眼查大数据分析，南瑞集团有限公司共对外投资了23家企业，参与招投标 项目5000次，财产线索方面有商标信息31条，专利信息4257条，此外企业还拥有行政许可56个。 北京科东电力控制系统有限责任公司，成立于1995年，位于北京市，是一家以从事科技推广和应用服务 业为主的企业。企业注册资本50000万人民币。通过天眼查大数据分析，北京科东电力控制系统有限责 任公司参与招投标项目5000次，专利信息1342条，此外企业还拥有行政许可18个。 金融界2025年6月10日消息，国家知识产权局信息显示，国网江苏省电力有限公司、南瑞集团有限公 司、北京科东电力控制系统有限责任公司、国家电网有限公司取得一项名为"一种基于冷启动的电网调 度行为理解方法、系统和存储介质"的专利，授权公告号CN114819532B，申请日期为2022年04月。 国家电网有限公司，成立于2003年，位于北京市，是一家以从事电力、热力生产和供应业为主的企业。 企业注册资本130452014.429054万人民币。通过天眼查 ...

Core Viewpoint - National Grid (NGG) is positioned to benefit from strategic investments in infrastructure upgrades and expansion, making it an attractive investment opportunity in the utility electric power industry [1] Earnings Growth Forecast - The Zacks Consensus Estimate for NGG's fiscal 2026 earnings per share (EPS) has increased by 2.7% to $4.94 over the past 30 days [2] - The company's earnings growth rate over the next three to five years is projected at 2.3% [2] Dividend Yield - NGG has consistently increased shareholder value through dividends, with a current dividend yield of 5.73%, significantly higher than the S&P 500 Composite's 1.24% [3] Strategic Investments and Customer Demand - National Grid plans to invest nearly $69 billion (£60 billion) across its service territory in the UK and the US over the next five years [4] - The company anticipates increased demand from new customer connections, with 2.5 gigawatts (GW) of customer projects connected to the transmission network this year, including 1.6 GW from renewables [4] Liquidity Position - NGG's current ratio at the end of fiscal 2025 was 1.35, exceeding the industry's average of 0.93, indicating a strong ability to meet future short-term liabilities [5] Solvency - The times interest earned (TIE) ratio for NGG at the end of fiscal 2025 was 3, suggesting the company can comfortably meet its interest payment obligations in the near term [6] Commitment to Clean Energy - National Grid aims to achieve net-zero emissions by 2050 and is actively investing in large-scale renewable energy projects such as wind and solar in the US [7] Stock Price Performance - Over the past six months, NGG shares have increased by 15.3%, outperforming the industry's growth of 3.9% [9] Other Stocks to Consider - Other top-ranked stocks in the same industry include Evergy, Inc. (EVRG), NiSource Inc. (NI), and CenterPoint Energy (CNP), all holding a Zacks Rank 2 [10][11]

国务院新闻办公室于2025年6月5日（星期四）上午10时举行新闻发布会，请国家能源局副局长宋 宏坤和国家电网、南方电网负责人介绍"深化提升'获得电力'服务水平 全面打造现代化用电营商环 境"有关情况，并答记者问。 国务院新闻办新闻局副局长、新闻发言人邢慧娜： 女士们、先生们，大家上午好。欢迎出席国务院新闻办新闻发布会。《关于深化提升"获得电力"服 务水平 全面打造现代化用电营商环境的意见》已经公开发布，今天的发布会我们邀请到国家能源局 副局长宋宏坤先生，请他向大家介绍《意见》有关情况，并回答大家关心的问题。出席今天发布会 的还有：国家电网有限公司总经理庞骁刚先生，中国南方电网有限责任公司总经理钱朝阳先生，国 家能源局市场监管司司长郝瑞锋先生。现在，先请宋宏坤先生作情况介绍。 国家能源局副局长宋宏坤： 女士们、先生们、各位媒体朋友，大家上午好！很高兴与国家电网、南方电网负责同志共同参加今 天的新闻发布会。首先，感谢大家一直以来对能源工作的关心支持。近日，国家发展改革委、国家 能源局联合印发《关于深化提升"获得电力"服务水平 全面打造现代化用电营商环境的意见》。借 此机会，我就"获得电力"工作和《意见》有关情况向 ...

Core Viewpoint - The document outlines the strategies and measures to enhance the "Electricity Access" service level in China, aiming to create a modernized business environment for electricity use, thereby supporting high-quality economic and social development [2][3]. Group 1: Overall Requirements - The initiative is guided by Xi Jinping's thoughts and aims to implement the spirit of the 20th National Congress of the Communist Party of China, focusing on energy security and a people-centered development approach [3]. - By 2029, the goal is to establish a modernized electricity business environment characterized by convenience, high quality, green energy, inclusivity, and regulatory collaboration [3]. Group 2: Continuous Reform and Innovation - The "Three Zero" service model will be expanded to include low-pressure electricity access for various private economic organizations, with a focus on reducing investment and improving service efficiency [4]. - The document emphasizes the need for proactive electricity service, where power companies will anticipate user needs and streamline the application process for electricity access [5][6]. Group 3: High-Quality Power Supply Management - There is a strong emphasis on enhancing the planning and construction of distribution networks to improve reliability and disaster resilience [8]. - Power companies are encouraged to adopt intelligent inspection systems and reduce outage times through better maintenance and management practices [9][10]. Group 4: Green Electricity Transition - The document supports the integration of green electricity into the grid and promotes the consumption of renewable energy sources [11]. - It encourages the development of electric vehicle charging infrastructure and aims to simplify the application process for users [12]. Group 5: Inclusive Development - The initiative aims to improve electricity access in underprivileged areas, ensuring reliable power supply in old residential communities and rural regions [13][14]. - It promotes a collaborative approach between government and enterprises to enhance service delivery and user experience [15]. Group 6: Strengthening Regulatory Collaboration - The document calls for a robust regulatory framework to ensure accountability and effective supervision of electricity services [16][17]. - It emphasizes the importance of a complaint handling mechanism to address user grievances effectively [17]. Group 7: Organizational Support - The National Development and Reform Commission and the National Energy Administration will coordinate efforts to implement these strategies, ensuring that local authorities and power companies fulfill their responsibilities [18].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 Date: 29 May 2025 Commission File Number: 001-14958 NATIONAL GRID plc (Translation of registrant's name into English) England and Wales (Jurisdiction of Incorporation) 1-3 Strand, London, WC2N 5EH, United Kingdom (Address of principal executive office) Indicate by check mark whether the registrant files or will file annua ...

Financial Performance - National Grid's fiscal year ended March 31, 2025, with significant developments reported in the strategic and financial reviews [11]. - The company reported a consolidated revenue of £X billion for the fiscal year, representing a Y% increase compared to the previous year [16]. - The underlying operating profit for 2024/25 was reported at £4,934 million, reflecting a 10% year-on-year increase [26]. - The company achieved an asset growth of £5,357 million, which is a 12% year-on-year increase [26]. - The dividend per share increased to 60.0p, representing a 3% year-on-year growth [26]. - Underlying operating profit increased by 12% to £5.4 billion at constant currency, driven by increased regulated revenues and flat controllable costs [75]. - Group RoE for 2024/25 was 9.0%, down from 10.5% in the prior year, impacted by lower gearing due to the Rights Issue [187]. - Underlying EPS grew by 2% year-on-year, driven by strong performance in New York, New England, and UK ET [176]. Capital Investment and Growth - National Grid announced a record capital investment of £9.85 billion for the year, contributing to a total investment of approximately £60 billion over five years, nearly doubling the previous investment level [25]. - Capital investment reached a record £9.85 billion over the past year, which is 20% higher than the previous year, reflecting strong activity across all regulated businesses [75]. - The company plans to invest approximately £60 billion over the next five years to expand its networks and connect new clean energy sources [120]. - The company has a target to achieve around £51 billion in green capital investment between April 2024 and March 2029 [184]. - The company delivered £7.7 billion of green capital investment in 2024/25, a £1.7 billion increase from the previous year [184]. Strategic Focus and Sustainability - National Grid's capital investment and asset growth strategies are highlighted, indicating a focus on infrastructure development [13]. - Future outlook includes continued investment in renewable energy and infrastructure to support energy transition [12]. - The company is committed to achieving net-zero emissions by 2030, with significant investments planned in renewable energy projects [15]. - The company is committed to aligning its greenhouse gas emissions reduction targets with the Science Based Targets initiative (SBTi) 1.5°C pathway [120]. - The strategic report emphasizes the importance of climate-related financial disclosures and regulatory compliance [13]. Operational Efficiency and Cost Management - The company has set a target to reduce operational costs by E% through efficiency improvements and digital transformation initiatives [16]. - The company is committed to leveraging advanced technologies and innovative practices to improve the efficiency of energy network operations [25]. Employee Engagement and Community Support - Employee engagement index reached 80% in the latest survey, indicating strong workforce morale [27]. - The company has launched a £13.8 million Grid for Good Energy Affordability Fund to support communities struggling with high living costs [83]. - In the UK, the company has assisted 21,000 customers in saving a total of £22 million through its fuel poverty programme [124]. Regulatory and Market Position - The company is classified as a large accelerated filer under the Securities Exchange Act [9]. - The financial statements are prepared in accordance with International Financial Reporting Standards [11]. - The company is actively working with regulators and governments to establish price controls and rate cases that reflect the growing demand for grid connections [120]. - The company submitted its RIIO-T3 business plan to Ofgem, which will nearly double the power transfer capacity across the UK [153]. Network Reliability and Safety - National Grid's network reliability was maintained at 99.9%, consistent with the previous year [26]. - The company reported a lost time injury frequency rate of 0.10 per 100,000 hours worked, a 25% year-on-year improvement [26]. - Network reliability for 2023/24 is reported at 99.9% with a capital investment of £8.24 billion and an underlying EPS of 72.1p, restated to 10.5% ROE [110].

Core Viewpoint - Achieving carbon peak and carbon neutrality is a profound systemic transformation in the economic and social landscape, with a focus on accelerating energy transition through new power systems [1][2]. Group 1: Energy Transition Strategies - The construction of new power systems has become a priority in energy strategies globally, with China actively contributing a "Chinese solution" to the energy transition [2]. - The National Energy Administration emphasizes the need for mutual respect and cooperation among countries to achieve energy transition, highlighting China's commitment to a community with a shared future for mankind [2]. Group 2: Role of Power Companies - Major power companies are leading the charge in building and developing new power systems, with a consensus on the need for clean and low-carbon energy transitions in response to climate change [2]. - The chairman of State Grid Corporation pointed out the complexities and challenges of constructing new power systems compared to traditional ones, stressing the importance of balancing development and safety [2]. Group 3: Urban Energy Consumption and Green Transition - Cities are the main consumers of energy, and accelerating the creation of new power systems for urban green transitions is a focal point for policy and market attention [3]. - Beijing is actively pursuing its "dual carbon" goals by promoting green transition initiatives, such as the "Beijing Urban Sub-center Green Heart Park" project, which aims for 100% green electricity access and comprehensive electrification of transportation [3]. - The project has received a carbon neutrality certification, marking a significant achievement in the domestic power industry [3]. - By 2025, it is projected that Beijing's external green electricity supply will exceed 40 billion kilowatt-hours, accounting for 35% of total electricity consumption, with renewable energy consumption rising to 18% [3].

Investors interested in Utilities stocks should always be looking to find the best-performing companies in the group. Middlesex Water (MSEX) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? By taking a look at the stock's year-to-date performance in comparison to its Utilities peers, we might be able to answer that question.Middlesex Water is one of 106 individual stocks in the Utilities sector. Collectively, these comp ...