National Grid to Invest $5.5 Billion This Year

National Grid Plc (NG/), the operator of energy networks in the U.K., expects to invest 3.6 billion pounds ($5.5 billion) to 3.9 billion pounds in the current fiscal year.

The company, which today reported a “solid” financial performance for the four-month period from April 1, said the investment is consistent with its plan to grow its regulated assets by about 6 percent a year over the “next few years.”

It plans to invest 1.3 billion pounds to 1.4 billion pounds a year in the U.S. in transmission investments, upgrades to existing infrastructure and the connection of new customers, it said today in a statement. The network operator said there have been no “material changes” to its financial performance from April.

To contact the reporter on this story: Louise Downing in London at ldowning4@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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