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Operating Profit by Segment
Reveals the profitability of each business segment, highlighting which areas are driving earnings and where there may be challenges or opportunities for growth.Operating profit is showing a structural shift away from legacy gas/’other’ lines toward lumpy, high-return electricity transmission and US regulated businesses; several previously material gas/US metrics drop to zero, consistent with reclassification or portfolio moves, while New York/New England and UK transmission/distribution produce large, volatile quarters. Management’s heavy capex programme and strong US regulatory approvals underpin further upside in transmission returns, but Ofgem real-price-effect headwinds and higher inflation-linked finance costs create near-term pressure on UK distribution margins.
Date | Other | UK Electricity Transmission | UK Gas Transmission | US Regulated | NGV & Other | UK Electricity Distribution | UK Electricity Operator | New England | New York | National Grid Ventures |
|---|---|---|---|---|---|---|---|---|---|---|
Mar 31, 2026 | -£115.00M | £792.00M | £0.00 | £0.00 | £0.00 | £634.00M | £0.00 | £866.00M | £1.11B | £528.00M |
Sep 30, 2025 | -£27.00M | £813.00M | £0.00 | £0.00 | £0.00 | £488.00M | £0.00 | £81.00M | £73.00M | £187.00M |
Mar 31, 2025 | -£105.00M | £635.00M | £0.00 | £0.00 | £0.00 | £846.00M | £0.00 | £893.00M | £1.05B | £233.00M |
Sep 30, 2024 | -£38.00M | £642.00M | £0.00 | £0.00 | £0.00 | £764.00M | -£364.00M | £89.00M | -£30.00M | £147.00M |
Mar 31, 2024 | -£47.00M | £838.00M | £0.00 | £0.00 | £0.00 | £517.00M | £437.00M | £675.00M | £890.00M | £250.00M |
Sep 30, 2023 | -£13.00M | £839.00M | £0.00 | £0.00 | £0.00 | £476.00M | £443.00M | -£32.00M | -£30.00M | £219.00M |
Mar 31, 2023 | £0.00 | £496.00M | £0.00 | £0.00 | £117.00M | £560.00M | £91.00M | £515.00M | £759.00M | £0.00 |
Sep 30, 2022 | £0.00 | £499.00M | £0.00 | £0.00 | £404.00M | £531.00M | £147.00M | £193.00M | -£18.00M | £0.00 |
Mar 31, 2022 | £0.00 | £517.00M | £0.00 | £0.00 | £146.00M | £628.00M | -£56.00M | £617.00M | £658.00M | £0.00 |
Sep 30, 2021 | £0.00 | £550.00M | £390.00M | £0.00 | £161.00M | £281.00M | £63.00M | £126.00M | £122.00M | £0.00 |