---
title: "National Grid posts higher FY26 earnings, targets £70 billion five-year investment"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/286369445.md"
description: "National Grid reported a 6% increase in underlying operating profit to £5.68 billion for FY26, with underlying EPS rising 8% to 78.0 pence. Capital investment reached a record £11.6 billion, up 18%, primarily in U.K. Electricity Transmission. The company anticipates 13-15% EPS growth for FY27 and plans to invest at least £70 billion over the next five years, targeting 10% annual asset growth. A final dividend of 32.14 pence per share was recommended, totaling 48.49 pence for the year."
datetime: "2026-05-14T06:27:50.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/286369445.md)
  - [en](https://longbridge.com/en/news/286369445.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/286369445.md)
---

# National Grid posts higher FY26 earnings, targets £70 billion five-year investment

Investing.com - National Grid’s underlying operating profit rose 6% to £5.68 billion in fiscal 2026, driven by stronger performance in the New York and U.K. Electricity Transmission businesses.  
Underlying earnings per share climbed 8% to 78.0 pence for the year ended March 31 and capital investment hit a record high, as the British utility pressed ahead with its largest-ever network expansion programme.  
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Capital investment reached a record £11.6 billion, up 18% from the prior year, fuelling asset growth of 10.9%. The step-up was concentrated in U.K. Electricity Transmission, where spending jumped 46% as the company accelerated work on its strategic transmission projects.  
Net debt rose to £44.2 billion as a result.  
Looking ahead, National Grid expects underlying EPS to grow 13-15% in fiscal 2027 as higher allowed revenues kick in under its new RIIO-T3 regulatory framework. Group capital investment is expected to reach around £13 billion in the coming year.  
Over the five years to 2030/31, the company plans to invest at least £70 billion across its networks, targeting asset growth of around 10% annually and underlying EPS growth of 8-10%.  
The board recommended a final dividend of 32.14 pence per share, bringing the full-year payout to 48.49 pence.

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