\n\u00a0<\/p>\n
\u00a0UNITED
\nSTATES<\/p>\n
\u00a0<\/p>\n
SECURITIES AND EXCHANGE COMMISSION<\/p>\n
Washington D.C. 20549<\/p>\n
\u00a0<\/p>\n
FORM 6-K<\/p>\n
\u00a0<\/p>\n
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16
\nUNDER THE SECURITIES EXCHANGE ACT OF 1934<\/p>\n
\u00a0<\/p>\n
Date: 01 July 2026<\/p>\n
\u00a0<\/p>\n
Commission File Number: 001-14958<\/p>\n
\u00a0<\/p>\n
\n\u00a0<\/p>\n
NATIONAL GRID plc<\/p>\n
\u00a0<\/p>\n
\n(Translation of
\nregistrant\u2019s name into English)<\/p>\n
\u00a0<\/p>\n
England and Wales<\/p>\n
\u00a0<\/p>\n
\n(Jurisdiction
\nof Incorporation)\u00a0<\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n
1-3 Strand, London, WC2N 5EH, United Kingdom<\/p>\n
\n(Address
\nof principal executive office)<\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n
\nIndicate by check
\nmark whether the registrant files or will file annual reports under
\ncover of Form 20-F or Form\u00a040-F.<\/p>\n
\u00a0<\/p>\n
\u2612\u00a0\u00a0Form\u00a020-F\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u2610\u00a0\u00a0Form\u00a040-F<\/p>\n
\u00a0<\/p>\n
\nIndicate
\nby check mark if the registrant is submitting the Form 6-K in paper
\nas permitted by Regulation S-T Rule
\n101(b)(1):\u00a0\u00a0\u2610<\/p>\n
\u00a0<\/p>\n
\nIndicate
\nby check mark if the registrant is submitting the Form 6-K in paper
\nas permitted by Regulation S-T Rule
\n101(b)(7):\u00a0\u00a0\u2610<\/p>\n
\u00a0<\/p>\n
\nIndicate
\nby check mark whether the registrant by furnishing the information
\ncontained in this Form is also thereby furnishing the information
\nto the Commission pursuant to Rule 12g3- 2(b) under the Securities
\nExchange Act of 1934.\u00a0\u00a0\u2610\u00a0\u00a0Yes\u00a0\u00a0\u00a0\u00a0\u2612\u00a0\u00a0No<\/p>\n
\u00a0<\/p>\n
\nIf
\n\u201cYes\u201d is marked, indicate below the file number
\nassigned to the registrant in connection with Rule 12g3-2(b):
\nn\/a<\/p>\n
\u00a0<\/p>\n
\n\u00a0<\/p>\n
\n\u00a0<\/p>\n
EXHIBIT INDEX<\/p>\n
\n\u00a0<\/p>\n
Exhibit No.<\/p>\n
\n\u00a0<\/p>\n
Description\u00a0<\/p>\n
\n\u00a0<\/p>\n
99.1<\/p>\n
\n\u00a0<\/p>\n
\nExhibit
\n99.1 Announcement sent to the London Stock Exchange on 01 July
\n2026\u00a0\u2014
\nNGV to invest $1.75bn in Joulent<\/p>\n
\n\u00a0<\/p>\n
\n\u00a0<\/p>\n
\nExhibit
\n99.1<\/p>\n
\n\u00a0<\/p>\n
01 July 2026<\/p>\n
\u00a0<\/p>\n
National Grid plc<\/p>\n
\u00a0<\/p>\n
National Grid Ventures to invest $1.75 billion in Joulent, a
\nplatform that is developing integrated power solutions for US large
\nload customers<\/p>\n
\u00a0<\/p>\n
\n\u00a0<\/p>\n
National Grid today announces that National Grid Ventures (“NGV”)
\nhas agreed to invest $1.75 billion to secure a 35% interest in
\nJoulent LLC (“Joulent”), as part of a broader strategic
\npartnership. Joulent will focus on developing contracted power
\ngeneration and high voltage infrastructure for US large load
\ncustomers, providing integrated solutions to help meet rapidly
\nrising demand for reliable, scaled power at speed.<\/p>\n
\u00a0<\/p>\n
Zo\u00eb Yujnovich, Chief Executive said: “Our investment in Joulent is a
\ndisciplined, partner-led investment in contracted critical
\ninfrastructure for the AI-driven large load economy. Through
\nNational Grid Ventures, we are gaining exposure to a major source
\nof electricity demand growth that diversifies our regional US
\nexposure and is supported by strong partners. It extends National
\nGrid’s core strengths of investing in long-duration infrastructure
\nwith contractual cash flows and attractive risk-adjusted
\nreturns.”<\/p>\n
\u00a0<\/p>\n
Chris James, Founder and CEO of Joulent
\nsaid:\u00a0“This investment from National
\nGrid Ventures strengthens Joulent’s ability to deliver reliable,
\nlarge-scale power on the timelines AI infrastructure and advanced
\nindustry now requires. We are building an independent company
\ndesigned for speed, scale and execution, without shifting the cost
\nof that growth onto local communities, while also providing
\ntailor-made and cost-competitive solutions for our
\ncustomers.”<\/p>\n
\u00a0<\/p>\n
The investment is consistent with National Grid’s ambition to
\npursue select critical infrastructure growth opportunities emerging
\nfrom the transforming energy landscape. It expands National Grid’s
\nexposure to the rapidly growing US large load power market and
\ndiversifies its US regional presence through an advanced platform
\nthat is underpinned by experienced partner-led execution. The
\ninvestment in Joulent provides access to long-term contracted cash
\nflows that offer the opportunity to earn attractive risk-adjusted
\nreturns in excess of National Grid’s regulated
\nreturns.<\/p>\n
\u00a0<\/p>\n
NGV’s investment will enable the development of Joulent’s
\nfoundational project, Project Kilby (“Kilby”), in a 50\/50
\npartnership with Chevron Corporation. Kilby is a 2.67 GW co-located
\npower facility in West Texas that will provide dedicated
\nelectricity to a Microsoft-operated data centre campus under a
\n20-year power purchase agreement. Development of the project is at
\nan advanced stage with secured critical equipment including GE
\nVernova turbines and reserved EPC capacity, and it is targeting
\nfirst power delivery in 2028.<\/p>\n
\u00a0<\/p>\n
Noelle Walsh, Microsoft President of Cloud Operations + Innovation,
\nsaid:\u00a0“AI and cloud are advancing at
\na pace that requires closer coordination between energy and
\ninfrastructure, and we welcome National Grid Ventures’ experience
\nand capabilities in helping address this challenge and support
\nreliable, high-performance compute at scale.”<\/p>\n
\u00a0<\/p>\n
Joulent also has a multi-GW pipeline of future projects, that could
\nprovide incremental growth opportunity over time.<\/p>\n
\u00a0<\/p>\n
Joulent has built the capabilities, partnerships and resources to
\ndevelop integrated power solutions for US large load customers,
\nincluding data centres, which can accelerate speed-to-power. These
\nsolutions include co-located gas generation, battery storage,
\nrenewables integration and ‘Across-the-Meter’ grid connections.
\nJoulent’s solutions are designed to scale quickly to meet the
\nnear-term large load demand for power that will support economic
\ngrowth, without shifting the cost of that growth onto local
\ncommunities, and ultimately will enable the longer-term path to a
\ngrid connection.<\/p>\n
\u00a0<\/p>\n
The strategic partnership is intended to extend beyond capital,
\nwith National Grid enhancing Joulent through contributing its deep
\noperational capabilities, including expertise in high-voltage
\nnetworks, system integration and balancing, infrastructure
\ndevelopment and project execution. This will help to support
\nresilient, scalable solutions for customers with significant
\nelectricity demand. The strategic partnership is also expected to
\nprovide insights and relationships that can strengthen National
\nGrid’s existing data centre connection programme, where it expects
\nto connect >10GW of data centre demand across the UK and US over
\nthe next five years.<\/p>\n
\u00a0<\/p>\n
The investment is incremental to National Grid’s existing five-year
\ncapital investment programme of at least \u00a370 billion by FY31,
\nwith the Final Investment Decision expected by the end of 2026. It
\nwill be funded through the Group’s existing balance sheet headroom,
\nwhile maintaining a strong investment grade credit rating. The
\ntransaction is not expected to affect the Group’s current five-year
\nfinancial framework. Joulent is expected to be free cash flow
\npositive from the early 2030’s, which could either help fund future
\nprojects or be distributed to the JV partners.<\/p>\n
\u00a0<\/p>\n
A factsheet that further explains the investment is available on
\nour website at:\u00a0https:\/\/www.nationalgrid.com\/investors\/resources\/factsheets<\/p>\n
\u00a0<\/p>\n
About National Grid Ventures<\/p>\n
\u00a0<\/p>\n
National Grid Ventures (NGV), the commercial arm of National Grid
\nplc, develops, builds and operates energy infrastructure that
\nstrengthens the power system and delivers reliable, affordable
\nenergy for communities.\u00a0<\/p>\n
\u00a0<\/p>\n
In the US, NGV’s portfolio includes competitive transmission,
\nbattery storage, solar, LNG storage, and conventional generation
\nassets. A global leader in transmission infrastructure, NGV
\noperates the world’s largest portfolio of high voltage subsea
\ninterconnectors in Europe and is applying that expertise to
\nstrengthen and expand the US electric grid. NGV brings decades of
\nexperience partnering with regulators and local stakeholders to
\nbuild energy infrastructure that supports economic growth, improves
\nreliability, and helps deliver lower cost energy to
\ncustomers.<\/p>\n
\u00a0<\/p>\n
About Joulent<\/p>\n
\u00a0<\/p>\n
Joulent is a technology-driven energy company purpose-built to
\ndeliver reliable, multi-gigawatt energy at the speed and scale
\nrequired to build the compute for artificial intelligence and other
\ncompute-intensive industries. Joulent develops and delivers firm,
\nbaseload power solutions engineered to meet the unique demands of
\nadvanced computing while minimizing impacts on existing power
\ngrids. Its modular, Across-the-Meter\u2122 approach integrates
\ngeneration, storage, and advanced controls to deliver scalable
\npower directly to new industrial loads, while reducing strain on
\nexisting grids and providing exportable power over
\ntime.<\/p>\n
\u00a0<\/p>\n
Enquiries and contacts<\/p>\n
\u00a0<\/p>\n
Investors and Analysts<\/p>\n
\u00a0<\/p>\n
Andrew Downey<\/p>\n
\n\u00a0<\/p>\n
+44 (0) 7926 285 683<\/p>\n
\n\u00a0<\/p>\n
Tom Edwards<\/p>\n
\n\u00a0<\/p>\n
+44 (0) 7976 962 791<\/p>\n
\n\u00a0<\/p>\n
Cerys Reece<\/p>\n
\n\u00a0<\/p>\n
+44 (0) 7860 382 264<\/p>\n
\n\u00a0<\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n
Media<\/p>\n
\u00a0<\/p>\n
Dan Roberts, Brunswick<\/p>\n
+44 (0) 7980 959 590<\/p>\n
\u00a0<\/p>\n
Advisers<\/p>\n
\u00a0<\/p>\n
J.P. Morgan is acting as lead financial adviser and Evercore is
\nacting as financial adviser to National Grid in respect of the
\ntransaction.<\/p>\n
\u00a0<\/p>\n
CAUTIONARY STATEMENT<\/p>\n
\u00a0\u00a0<\/p>\n
This announcement contains certain statements that are neither
\nreported financial results nor other historical information. These
\nstatements are forward-looking statements within the meaning of
\nSection 27A of the Securities Act of 1933, as amended, and Section
\n21E of the Securities Exchange Act of 1934, as amended. These
\nstatements include information with respect to National Grid’s (the
\nCompany) financial condition, its results of operations and
\nbusinesses, strategy, plans and objectives. Words such as ‘aims’,
\n‘anticipates’, ‘expects’, ‘should’, ‘intends’, ‘plans’, ‘believes’,
\n‘outlook’, ‘seeks’, ‘estimates’, ‘targets’, ‘may’, ‘will’,
\n‘continue’, ‘project’ and similar expressions, as well as
\nstatements in the future tense, identify forward-looking
\nstatements. This announcement also references
\nsustainability-related targets and sustainability-related risks
\n(including climate-related targets and climate-related risks) which
\ndiffer from conventional financial risks in that they are complex,
\nnovel and tend to involve projection over long term scenarios which
\nare subject to significant uncertainty and change. These
\nforward-looking statements and targets are not guarantees of
\nNational Grid’s future performance and are subject to assumptions,
\nrisks and uncertainties that could cause actual future results to
\ndiffer materially from those expressed in or implied by such
\nforward-looking statements and targets. Many of these assumptions,
\nrisks and uncertainties relate to factors that are beyond National
\nGrid’s ability to control or estimate precisely, such as changes in
\nlaws or regulations and decisions by governmental bodies or
\nregulators, including those relating to current and upcoming price
\ncontrols in the UK and rate cases in the US; the timing of
\nconstruction and delivery by third parties of new generation
\nprojects requiring connection; breaches of, or changes in,
\nenvironmental, climate change and health and safety laws or
\nregulations, including breaches or other incidents arising from the
\npotentially harmful nature of its activities; network failure or
\ninterruption, the inability to carry out critical non-network
\noperations and damage to infrastructure, due to adverse weather
\nconditions including the impact of major storms as well as the
\nresults of climate change, due to counterparties being unable to
\ndeliver physical commodities; reliability of and access to IT
\nsystems, including due to the failure of or unauthorised access to
\nor deliberate breaches of National Grid’s systems and supporting
\ntechnology; failure to adequately forecast and respond to
\ndisruptions in energy supply; performance against regulatory
\ntargets and standards and against National Grid’s peers with the
\naim of delivering stakeholder expectations regarding costs and
\nefficiency savings, including affordability considerations, as well
\nas against targets and standards designed to support its role in
\nthe energy transition; and customers and counterparties (including
\nfinancial institutions) failing to perform their obligations to the
\nCompany. Other factors that could cause actual results to differ
\nmaterially from those described in this announcement include
\nfluctuations in exchange rates, interest rates and commodity price
\nindices; restrictions and conditions (including filing
\nrequirements) in National Grid’s borrowing and debt arrangements,
\nfunding costs and access to financing; regulatory requirements for
\nthe Company to maintain financial resources in certain parts of its
\nbusiness and restrictions on some subsidiaries’ transactions such
\nas paying dividends, lending or levying charges; the delayed timing
\nof recoveries and payments in National Grid’s regulated businesses,
\nand whether aspects of its activities are contestable; the funding
\nrequirements and performance of National Grid’s pension schemes and
\nother post-retirement benefit schemes; the failure to attract,
\ndevelop and retain employees with the necessary competencies,
\nincluding leadership and business capabilities, and any significant
\ndisputes arising with National Grid’s employees or breaches of laws
\nor regulations by its employees; the failure to respond to market
\ndevelopments, including competition for onshore transmission; the
\nthreats and opportunities presented by emerging technology,
\nincluding AI; the risk that global actions may not be effective in
\ntransitioning to net zero and in managing relevant ESG risks,
\nincluding in particular climate, nature-related and human rights
\nrisks; the failure by the Company to respond to, or meet its own
\ncommitments as a leader in relation to, climate change development
\nactivities relating to energy transition, including the integration
\nof distributed energy resources, which may result in the Company’s
\nfailure to achieve the expected benefits of its strategic
\npriorities; and the need to grow the Company’s business to deliver
\nits strategy, as well as incorrect or unforeseen assumptions or
\nconclusions (including unanticipated costs and liabilities)
\nrelating to business development activity, including its strategic
\ninfrastructure projects and joint ventures. For further details
\nregarding these and other assumptions, risks and uncertainties that
\nmay affect National Grid, please read the Strategic Report section
\nand the ‘Risk factors’ on pages 227 to 231 of National Grid’s
\nAnnual Report and Accounts for the year ended 31 March 2026. In
\naddition, new factors emerge from time to time and National Grid
\ncannot assess the potential impact of\u00a0any such factor on its
\nactivities or the extent to which any factor, or combination of
\nfactors, may cause actual future results to differ materially from
\nthose contained in any forward-looking statement. Except as may be
\nrequired by law or regulation, the Company undertakes no obligation
\nto update any of its forward-looking statements, which speak only
\nas of the date of this announcement.<\/p>\n
\u00a0<\/p>\n
SIGNATURE<\/p>\n
\n\u00a0<\/p>\n
Pursuant to the requirements of the Securities Exchange Act of
\n1934, the registrant has duly caused this report to be signed on
\nits behalf by the undersigned, thereunto duly
\nauthorized.<\/p>\n
\n\u00a0<\/p>\n
\n\u00a0<\/p>\n
\n\u00a0<\/p>\n
\u00a0<\/p>\n
\nNATIONAL GRID
\nplc<\/p>\n
\n\u00a0<\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n
By:<\/p>\n
\n\u00a0<\/p>\n
Beth Melges<\/p>\n
\n\u00a0<\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n
Beth Melges<\/p>\n
Head of Plc Governance<\/p>\n
\n\u00a0<\/p>\n
\n\u00a0<\/p>\n
\n\u00a0<\/p>\n
Date:\u00a001 July
\n2026<\/p>\n","protected":false},"excerpt":{"rendered":"\u00a0 \u00a0UNITED STATES \u00a0 SECURITIES AND EXCHANGE COMMISSION Washington D.C. 20549 \u00a0 FORM 6-K \u00a0 REPORT OF FOREIGN…\n","protected":false},"author":2,"featured_media":73466,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[21249],"tags":[33897,33898,33900,13392,33740,33899,2580,33895,27902,33896],"class_list":["post-74662","post","type-post","status-publish","format-standard","has-post-thumbnail","category-national-grid","tag-2-67-gw","tag-20-year-ppa","tag-chevron-partnership","tag-infrastructure-investment","tag-joulent","tag-microsoft-data-centre","tag-national-grid","tag-national-grid-ventures","tag-ngg","tag-project-kilby"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@UnitedKingdom\/116847901496794194","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts\/74662","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/comments?post=74662"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts\/74662\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/media\/73466"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/media?parent=74662"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/categories?post=74662"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/tags?post=74662"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}