National Grid said in a statement that investment in its existing businesses would be a significant contributor to future growth. The firm says it has increased investment this year by 36% to GBP2.1 billion and now projects a further rise to around GBP2.5 billion per annum, totaling around GBP12 billion over the five years to March 2011.
National Grid says that some GBP9 billion of this investment is expected to be in UK regulated infrastructure, primarily in response to changes in energy infrastructure requirements with the decline of North Sea gas production. In addition, the firm will need to adapt to the UK government’s renewable energy policy and the need for asset replacement.
