National Grid (LSE:NG.) told investors its performance for the year ended 31 March 2026 is broadly in line with expectations, but it now expects an approximately 1p per share reduction to underlying EPS.
"The Group's performance is in line with our expectations and consistent with the guidance provided at our half year results. However, we now estimate a net impact of around 1p per share to underlying EPS reflecting the recognition of customer refund charges related to the 19 March 2026 FERC judgement on New England Transmission and slightly higher than expected storm costs in our US businesses, partly offset by slightly lower finance costs," the company said.
The update points to two specific hits: customer refund charges linked to the 19 March 2026 Federal Energy Regulatory Commission judgment on New England Transmission, and incremental storm-related costs in US operations. Those additional charges are partly offset by "slightly lower finance costs," the statement adds.
National Grid said the outcome sits "consistent with the guidance provided at our half year results," signalling no wider surprise to the group's full-year trajectory ahead of results.
Full-year results will be published on 14 May.
