National Grid Transco (NYSE:NGG) used its 2026 annual general meeting to outline a record investment year, an expanded five-year capital program and shareholder concerns ranging from climate policy to grid connections, data centers and infrastructure security.
Chair Paula Reynolds opened the hybrid meeting at King’s High School in Warwick, noting the venue’s proximity to National Grid’s Warwick campus, home to its U.K. electricity transmission business and National Grid Ventures
Reynolds also introduced Chief Executive Zoë Yujnovich, who took up the CEO role on Nov. 17 after joining the company last year as CEO designate. Yujnovich said her goal is to build on National Grid’s existing strategy while sharpening execution through a framework focused on “Brilliant Basics,” “Big Shifts” and “Disciplined Growth.” She said the company’s purpose remains centered on reliable energy delivery and investment in networks needed for economic growth and the energy transition. Record Investment and Five-Year Growth Plan Yujnovich told shareholders National Grid delivered “a strong performance” over the past year, investing a record GBP 11.6 billion in networks and other energy infrastructure.
She said that was 20% higher than the prior year and helped grow the company’s asset base by 10.9%. Underlying operating profit rose to GBP 5.7 billion, while earnings per share increased 8% at constant currency, in line with guidance. The company increased its dividend by 3.8%, in line with U.K.