Our investment proposition

We aim to be a low risk business, focused on generating shareholder value through both dividends and asset growth by investing in essential assets under primarily regulated market conditions, to service long-term sustainable consumer-led demands.


£40.5bn
total assets*

£4.7bn
operating profit

44.27p
dividend per share**

  • Balance of activities

    UK & US

    Electricity & gas

    Transmission & distribution

    Local expertise & global functions

  • Regulated income growth

    RPI linked UK revenues

    Asset growth leading to increased revenues

    Updated rate cases

  • Macro-economic protection

    Bad debt trackers and credit protection

    UK inflation linked revenues and assets

    Price control 're-openers'

  • Commodity and volume protection

    Revenue decoupling

    Energy commodity pass through

High quality regulated assets

Total assets £40.5bn as at 31 March 2017
Includes 39% share of UK Gas Distribution (NGGD assets)

Assets by segment

  • US Regulated: 42%
  • UK Electricity Transmission: 30%
  • UK Gas Transmission: 14%
  • NGGD retained stake: 9%
  • NG Ventures & Other: 5%

 

 

 

 

 

 

Balanced portfolio to deliver attractive total shareholder return:

  • A portfolio of high quality long-term assets at the heart of the energy system
  • Targeting annual asset growth of 5-7%***
  • Dividend policy underpinned by regulatory agreements
  • Balance of activities with stable regulation and macro-economic protection
  • Underpinned by a robust balance sheet and strong financial discipline
  • Protection from generation and supply exposure/margins

 *includes 39% share of UK Gas Distribution (NGGD) assets
**note: excludes 84.37p special interim dividend related to the sale of NGGD

***including assumed long run UK RPI inflation