UK-based National Grid PLC (GB:NG) committed £35 billion in its electricity transmission network from April 2026 to March 2031. The company announced this as part of its RIIO-T3 business plan for the National Grid Electricity Transmission (NGET) division. The company further stated that this plan is the biggest advancement in the UK’s electricity network in a generation. National Grid shares fell by 0.81% as of writing.
National Grid manages the UK energy systems and also operates electricity and gas businesses in New York and Massachusetts.
National Grid Steps Up for UK’s Renewable Future
National Grid’s investment is a crucial step to drive the UK’s green energy goals. Significant investment in electricity networks is required to support the expansion of wind and solar farms. This aligns with the UK government’s goal to decarbonize the electricity system by 2030.
According to the company’s statement, it will allocate £11 billion for maintaining and upgrading existing networks, alongside funding for the first three of its accelerated strategic transmission investment (ASTI) projects. The ASTI projects are a crucial component of National Grid’s strategy to develop new electricity network infrastructure, aimed at reducing the UK’s dependence on fossil fuels by 2030.
Additionally, £24 billion will be invested in future projects, with approximately £15 billion dedicated to increasing network capacity.
What Is National Grid’s Share Price Forecast?
Following the update, analysts from Goldman Sachs, Jefferies, RBC Capital, and Morgan Stanley confirmed their Buy ratings on NG stock.
On TipRanks, NG stock has received a Strong Buy rating based on 12 Buy and two Hold recommendations. The National Grid share price target of 1,144.23p implies an upside potential of 23.2% on the current trading price.
