National Grid 2008 Annual Report Download - page 165

BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 22065
Name: NATIONAL GRID
Date: 17-JUN-2008 03:10:51.35Operator: BNY99999TPhone: [phone]Site: BOWNE OF NEW YORK
Y59930.SUB, DocName: EX-2.B.5.1, Doc: 4, Page: 69
Description: EXH 2(B).5.1
0/2548.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/548/2*
BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 22065
Name: NATIONAL GRID
Date: 17-JUN-2008 03:10:51.35Operator: BNY99999TPhone: [phone]Site: BOWNE OF NEW YORK
Y59930.SUB, DocName: EX-2.B.5.1, Doc: 4, Page: 69 Description: EXH 2(B).5.1
0/2548.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/548/2*
DESCRIPTION OF NATIONAL GRID PLC
Overview
National Grid plc (“National Grid”) is the name of the holding company of the group of companies (the “National Grid Group”)
which was the product of a recommended merger between National Grid Group plc (“NGG”) and Lattice Group plc (“Lattice”).
This mer
g
er was implemented by way of a court sanctioned scheme of arran
g
ement under the Companies Act 1985 between
Lattice and its shareholders and was completed on 21 October 2002. Followin
g
the closin
g
of the mer
g
er, NGG was renamed
National Grid Transco plc and on 27 July 2005 it changed its name to National Grid plc.
National Grid was incorporated in En
g
land and Wales on 11 July 2000 as a public company limited by shares under the
Companies Act 1985. The address of National Grid’s registered office is 1-3 Strand, London, WC2N 5EH and the telephone
number of the registered office is [phone].
National Grid is, directly or indirectly, the ultimate holdin
g
company of all the companies in the National Grid Group and its
assets are substantially comprised of shares in such companies. National Grid does not conduct any other business and is
accordingly dependent on the other members of the National Grid Group and revenues received from them.
Introduction
National Grid’s principal operations are in re
g
ulated networks and comprise the transmission and distribution of electricity and
g
as based mainly in the U.K. and the U.S. National Grid also has interests in related markets, includin
g
meterin
g
services,
liquefied natural gas storage facilities and property in the U.K., as well as electricity interconnectors in the U.K. and U.S.
Business overview
Principal activities and markets
National Grid’s principal businesses are:
The performance of these businesses are reported by National Grid by se
g
ment reflectin
g
the mana
g
ement responsibilities and
economic characteristics of each activity. These segments are:
69
• Transmission;
• Gas distribution;
• Electricity distribution; and
• Non-re
g
ulated businesses.
• Transmission – U.K.;
• Transmission – U.S.;
• Gas Distribution – U.K.;
• Gas Distribution – U.S.;
• Electricity Distribution – U.S.; and