Energy transmission and distribution £m
2013
Operating profit
Companyªۜ
Owners^
Western Power Distribution (South Wales and South West)
PPL Corporation: Blackrock, Vanguard Group, State Street Corporation
610
355
44
254
93
31
1620
686
Western Power Distribution (West and East Midlands)
PPL Corporation: Blackrock, Vanguard Group, State Street Corporation
889
569
75
352
153
47
2773
2000
JP Morgan Infrastructure Electricity North West Investments, Commonwealth Bank of Australia
516
272
29
156
120
67
2100
146
UK Power Networks
Cheung Kong Group, Li Ka Shing
1608
899
25
589
288
213
4707
2433
Northern Powergrid
Berkshire Hathaway: Warren Buffett
722
366
59
261
88
1612
1570
National Grid Electricity Transmission Plc
National Grid Plc: Capital Group, Blackrock, Crescent Holdings
3393
1018
141
763
179
300
6557
1967
National Grid Gas*
National Grid Plc: Capital Group, Blackrock, Crescent Holdings
3033
1359
189
1077
303
600
9208
6359
Northern Gas Networks
Hutchinson Whampoa, Power Assets Holdings, SAS Trustee Corporation
397
105
10
54
49
251
1402
-152
Scotia Gas Networks
SSE Plc, Ontario Teachers Pension Plan Board, OMERS pension fund
965
225
-10
-21
244
60
3967
-823
Wales and West Utilities
Cheung Kong Group, Li Ka Shing
406
127
-1
23
131
42
1500
-365
12539
5295
561
3508
1647
1611
35447
13821
Total
Revenue
Tax*
Profit after tax Interest
Dividends* Borrowings
Equity
^ Top three shareholders included for companies listed on public stock exchanges. * Tax and dividend figures taken from the cash flow statement to show actual paid in the year. ªۜ See the list at the bottom of this sheet for the particular group company that the figures have been taken from. Where possible, the accounts used have been consolidated group accounts. * National Grid Gas has a share of the gas distribution market and is responsible for gas transmission throughout the UK Note: Scottish Hydro Electricity Transmission Plc, Scottish Power Transmission Ltd (both electricity transmission) and SP Energy Networks have been omitted as they are included in the consolidated finances of SSE and Scottish Power
CALCULATIONS Total paid out in interest and dividends Total debt and equity
Approximate cost of UK government 30 year gilts based on prices over the last year (%) (http://www.bloomberg.com/markets/rates-bonds/government-bonds/uk/)
3257 49267
3
Total that would be paid out in interest on government gilts on equivalent debt and equity
1478
Total savings if publicly financed (with tax paid by the companies added to the gilt interest)
1219
Per household (£)
46.17
2012, £m Operating profit
Companyªۜ
Owners^
Western Power Distribution (South Wales and South West)
PPL Corporation: Blackrock, Vanguard Group, State Street Corporation
570
349
41
242
96
Western Power Distribution (West and East Midlands)
PPL Corporation: Blackrock, Vanguard Group, State Street Corporation
766
347
28
158
157
JP Morgan Infrastructure Electricity North West Investments, Commonwealth Bank of Australia
474
213
-2
100
114
UK Power Networks
Cheung Kong Group, Li Ka Shing
1480
759
39
473
308
Northern Powergrid
Berkshire Hathaway: Warren Buffett
696
370
60
263
88
National Grid Electricity Transmission Plc
National Grid Plc: Capital Group, Blackrock, Crescent Holdings
3111
1009
100
647
208
National Grid Gas*
National Grid Plc: Capital Group, Blackrock, Crescent Holdings
3037
1387
188
930
Northern Gas Networks
Hutchinson Whampoa, Power Assets Holdings, SAS Trustee Corporation
378
102
10
Scotia Gas Networks
SSE Plc, Ontario Teachers Pension Plan Board, OMERS pension fund
929
211
Wales and West Utilities
Cheung Kong Group, Li Ka Shing
277 11719
Total
Revenue
Tax*
Profit after tax Interest
Dividends* Borrowings
11
Equity
1605
622
2595
1883
33
2057
3
135
4719
2105
1553
1319
400
6843
1427
303
1900
10154
5880
33
62
82
1193
152
-1
-21
257
130
3936
-747
38
0
-35
95
16
1515
-319
4783
461
2790
1687
2707
36170
12326
Company Western Power Distribution (South Wales and South West) Western Power Distribution (West and East Midlands)
Individual company accounts figures taken from PPL WW Holdings Ltd
PPL WEM Holdings Plc
Electricity North West North West Electricity Networks (UK) Ltd UK Power Networks Northern Powergrid National Grid Electricity Transmission Plc National Grid Gas* Northern Gas Networks Scotia Gas Networks Wales and West Utilities
UK Power Networks Holdings Northern Powergrid Holdings Company National Grid Electricity Transmission Plc National Grid Gas Plc Northern Gas Networks Holdings Ltd Scotia Gas Networks Wales & West Gas Networks (Holdings) Ltd