LSE:NG 15 February 2026 - 11 June 2026

National Grid’s AI investment leaves stock unmoved, Ofgem review still ahead
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National Grid dips in London trade after £70bn grid plan revealed

National Grid plc dropped more than the FTSE 100 on Monday, trading at 1,231p at 16:35 BST, off 1.05%. The FTSE 100 finished down 0.26%, Hargreaves Lansdown data show, after the session ended. The bigger issue for investors isn't Thursday's drop. National Grid has a £70 billion capital plan for the next five years, which is about 114% of the company’s £61.25 billion market cap, based on Hargreaves Lansdown data. That level keeps the stock exposed to funding and execution risk, even after management raised its earnings outlook.
July 6, 2026
National Grid Shares Up After UK Grid Reform and £70bn Growth Plan
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National Grid Shares Up After UK Grid Reform and £70bn Growth Plan

National Grid shares climbed in London Thursday, as investors saw signs Britain’s backed-up electricity-connection queue may be moving. That speaks directly to the case for owning one of the FTSE 100’s largest regulated utilities. The stock was last at 1,211.00p, up 11.50p, or 0.96%, on lagged data at 12:47 BST, after closing at 1,199.50p. National Grid shares moved after the National Energy System Operator, not the company itself, made an announcement. NESO said Wednesday that it has now issued more than half of the connection offers for transmission and distribution projects planned before 2030. That’s a shift for a stock that’s tied to grid demand becoming approved assets on the balance sheet.)
June 11, 2026
National Grid shares slip as $750m debt deal puts £70bn grid plan back in focus
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National Grid shares slip as $750m debt deal puts £70bn grid plan back in focus

National Grid plc shares edged lower on Wednesday as a fresh U.S. debt filing pulled attention back to the central question for investors: how the utility funds one of the biggest grid spending programmes in Europe without letting borrowing costs eat into returns. The London-listed stock was quoted at 1,195p at 14:02 BST, down 0.38% on the day, after opening at 1,198p and touching an intraday high of 1,201p. The immediate change from yesterday is on the financing side. In a June 9 Form 6-K, National Grid said it had issued $750 million of 5.405% notes due 2036 and filed the underwriting agreement and supplemental indenture tied to the deal. Notes are bonds: investors lend the company money and receive
June 10, 2026
National Grid Falls After Deutsche Bank Cuts Rating; £70 Billion Plan Scrutinized
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National Grid Falls After Deutsche Bank Cuts Rating; £70 Billion Plan Scrutinized

National Grid shares dropped over 1% in London on Monday after Deutsche Bank downgraded the stock to “hold” from “buy”. The bank pointed to higher political risk for UK utilities and said the valuation case is now weaker. National Grid was last down 1.07% at 1,204.50 pence, according to a London South East market report. National Grid is not just a defensive dividend play anymore. Now it’s also a stock for investors betting on a big buildout in power networks across the UK and the U.S. Northeast. The company is planning to put at least £70 billion into capital projects over the five years through 2030/31.
June 8, 2026
National Grid Just Beat the FTSE — The £70 Billion Question Facing Monday’s Open
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National Grid Just Beat the FTSE — The £70 Billion Question Facing Monday’s Open

National Grid plc ended the week ahead of the London market, rising 1.54% on Friday to 1,217.5p as the FTSE 100, the benchmark of London’s largest listed companies, edged up 0.07%. The move left the utility with a modest weekly gain while trading is paused for the weekend. That matters now because the next print is Monday’s open, not another late-Friday trade. The stock has just moved through a week of shareholder paperwork: National Grid published its Annual Report and Accounts, Form 20-F and notice of its 2026 annual general meeting on June 3, followed by final-dividend scrip terms on June 4.
June 6, 2026
National Grid shares edge higher as £70bn grid plan draws UBS caution
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National Grid shares edge higher as £70bn grid plan draws UBS caution

National Grid plc shares traded higher on Tuesday morning, building on their rebound after last week’s earnings miss. Investors were eyeing the group’s longer-term plans in UK power networks. According to Fidelity data, the stock was quoted at 1,253.50p to sell and 1,254.50p to buy at 11:43 BST, up 1.83%. Prices were delayed by at least 15 minutes. Utilities pushed the FTSE 100 higher Monday after a tough stretch for the sector. National Grid climbed 3.66% and Centrica added 4% as the index finished 1.26% up at 10,323.75.
May 19, 2026
National Grid Shares Bounce After Friday Rout as £70 Billion Grid Bet Faces Storm Test
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National Grid Shares Bounce After Friday Rout as £70 Billion Grid Bet Faces Storm Test

National Grid rose in early London trading on Monday, recovering part of Friday’s sharp fall as investors shifted back into defensive utilities and weighed a profit miss against the company’s large regulated investment plan. Delayed quote data showed the FTSE 100 utility at 1,210p at 09:46:57 BST, up 22p, or 1.85%, after a Friday close of 1,188p. The stock had ended Thursday at 1,290.5p, leaving Monday’s bounce well short of reversing the post-results slide. The FTSE 100 was quoted at 10,210.39, up 15.02 points.
May 18, 2026
National Grid plc’s £70 Billion Grid Bet Just Hit a Storm-Cost Test
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National Grid’s 8% Drop Turns Monday Into a Test of the UK Dividend Trade

National Grid’s London-listed shares closed the week with a hard break lower, dropping 7.94% on Friday to 1,188p as UK utilities were caught in a broad selloff. The London Stock Exchange is shut for the weekend, so the next real price test comes Monday. That matters because the move was not just about one set of numbers. Gilt yields — the returns investors demand to hold UK government bonds — jumped as political uncertainty and inflation worries hit UK assets, and Reuters reported that the FTSE 100 fell 1.7% while utilities, often treated as bond proxies, lost 7.5%. A bond proxy is a stock bought partly for steady income, making it vulnerable when bond yields rise.
May 16, 2026
National Grid plc’s £70 Billion Grid Bet Just Hit a Storm-Cost Test
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National Grid plc’s £70 Billion Grid Bet Just Hit a Storm-Cost Test

National Grid plc shares slipped early Friday, erasing some of Thursday’s post-earnings rally. Investors digested an annual profit miss alongside a fresh £70 billion grid upgrade plan. The stock was down 2.79% at 1,254.50 pence as of 08:51 BST, according to LSEG figures cited by Investors’ Chronicle. The British electricity and gas network operator reported underlying operating profit at £5.68 billion for the year to March 31, missing a company-compiled consensus forecast of £5.75 billion, according to Reuters. The result, which strips out specified one-off and timing items, triggered the move.
May 15, 2026
UK Stock Market Today: FTSE 100 Faces GDP Test After Third Weekly Drop
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UK Stock Market Today: FTSE 100 Faces GDP Test After Third Weekly Drop

FTSE 100 opens the week still feeling the weight of Friday’s 0.4% drop to 10,233.07—marking a third straight week in the red. Investors are eyeing a loaded UK data calendar, while Middle East tensions keep nerves tight. With London’s cash market closed on Sunday, regular trading gets going again Monday. Main session runs 8:00 to 16:30 local time. The real question now: will buyers actually step back in? But first comes Thursday’s UK GDP release, a check on whether growth was still holding up before rising energy bills started pinching households and businesses.
May 10, 2026
National Grid plc’s £50 Million Grid Fix: New Line Sensors Aim to Cut UK Power Bottlenecks
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National Grid plc’s £50 Million Grid Fix: New Line Sensors Aim to Cut UK Power Bottlenecks

National Grid plc on Thursday announced plans to roll out dynamic line rating tech over 585 kilometres of major north-to-south transmission lines in England and Wales. The company estimates the upgrade could cut consumer costs by as much as £50 million within five years. Timing is crucial here. Britain is attempting to run more wind and solar through a grid that was built for a different era, and the resulting congestion isn’t cheap. Constraint costs—basically, payouts to generators who have to dial back because the system can't handle their electricity—reached £1.34 billion for 2024-25. That figure could climb to almost £7 billion by 2030-31 unless something changes, according to NESO forecasts reported by Argus.
April 30, 2026
National Grid Shares Rise as Exeter Upgrade Puts Britain’s Grid Bottlenecks Back in Focus
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National Grid Shares Rise as Exeter Upgrade Puts Britain’s Grid Bottlenecks Back in Focus

National Grid plc said Wednesday it delivered a 150-tonne transformer to its Exeter substation. The drop-off comes as Britain urges utilities to speed up grid upgrades, with the company marking the installation as a local milestone. Timing isn’t accidental. Just the day before, the UK government rolled out its Reformed National Pricing plan—a set of electricity market tweaks targeting constraint costs, those payments triggered when power can’t get from generator to consumer. Officials claim the changes will cut system costs, boost efficiency, and make the grid run more smoothly.
April 22, 2026
National Grid plc seals £3 billion Eastern Green Link 4 contracts ahead of RIIO-3 start
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National Grid plc seals £3 billion Eastern Green Link 4 contracts ahead of RIIO-3 start

National Grid plc and SP Energy Networks on Monday locked in £3 billion of major supply-chain deals for Eastern Green Link 4, a 2-gigawatt subsea cable project running between Scotland and England—one of five east coast links aimed at clearing grid congestion. Siemens Energy is tapped for the HVDC converter stations, while Prysmian will deliver the cable system. Timing is key here. Britain’s RIIO-3, the next five-year price-control cycle that determines how much network owners can earn, kicks off April 1. Earlier in the month, National Grid raised its investment target to at least £70 billion by March 2031, signed off on Ofgem’s RIIO-T3 transmission deal, and projected earnings-per-share growth between 13% and 15% for fiscal 2027. Chief Executive Zoë
March 31, 2026
National Grid plc seals £3 billion Eastern Green Link 4 deals as UK grid upgrade speeds up
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National Grid plc seals £3 billion Eastern Green Link 4 deals as UK grid upgrade speeds up

National Grid plc on Monday announced it had secured £3 billion worth of supply-chain deals for Eastern Green Link 4, its planned 2-gigawatt subsea connection between Fife and Norfolk. Siemens Energy landed the converter-station contract, following an earlier £2 billion cable package awarded to Prysmian. This matters for Britain, which needs extra network capacity to send Scottish wind power south, unclog bottlenecks, and rein in mounting constraint costs—fees that stack up when electricity can't reach demand centers. Back in December, Reuters reported that Britain revamped its grid-connection process as the queue swelled with over 700 gigawatts of projects.
March 30, 2026
National Grid plc Share Price Drops as Jefferies Downgrade and BoE Yield Jolt Hit Utility Stock
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National Grid plc Share Price Drops as Jefferies Downgrade and BoE Yield Jolt Hit Utility Stock

National Grid slipped another 3.75% to 1,271.5 pence on Thursday, deepening a 2.94% decline from the previous session. Trading got busy, with 10.9 million shares changing hands Wednesday—almost double the recent 50-day average of 5.8 million. Jefferies lowered its rating to Hold from Buy, sticking with a price target of 1,410 pence. This drop is notable—National Grid had only just raised its long-term growth outlook, and the FTSE 100 has counted on the stock as a reliable utility play. But Jefferies’ Ahmed Farman flagged the shares as expensive, with few regulatory catalysts ahead and higher real rates threatening to dent investor appetite.
March 19, 2026
National Grid Share Price Today: Stock Holds Near Highs as UBS Sell Call Challenges £70 Billion Plan
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National Grid Share Price Today: Stock Holds Near Highs as UBS Sell Call Challenges £70 Billion Plan

National Grid clawed back some ground in London on Tuesday, with shares up 0.5% at 1,362.75 pence by 1455 GMT, recovering a slice of Monday’s 1.27% slide. Investors faced a tug-of-war between a new UBS sell rating and the British utility’s expanded growth ambitions. National Grid stands out among London utilities this year. The stock has climbed roughly 19.5% since Jan. 1, after the company extended its framework to FY31 on March 2, mapping out a minimum of £70 billion in cumulative investment. Management also projected FY27 adjusted earnings per share would be up 13%-15%.
March 17, 2026
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