National Grid 2008 Annual Report Download - page 582

BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 11228
Name: NATIONAL GRID
Date: 17-JUN-2008 03:10:51.35Operator: BNY99999TPhone: [phone]Site: BOWNE OF NEW YORK
Y59930.SUB, DocName: EX-15.1, Doc: 16, Page: 61
Description: EXHIBIT 15.1
0/6257.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/257/6*
BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 11228
Name: NATIONAL GRID
Date: 17-JUN-2008 03:10:51.35Operator: BNY99999TPhone: [phone]Site: BOWNE OF NEW YORK
Y59930.SUB, DocName: EX-15.1, Doc: 16, Page: 61 Description: EXHIBIT 15.1
0/6257.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/257/6*
Table of Contents
Annual Report and Accounts 2007/08 69
£830m Propert
y
BritNed US
Total planned investment
in Grain LNG
UK Property business
retained – obtain better
value as part of National
Grid than throu
g
h sellin
g
Construction started on
electricity interconnector
with the Netherlands
US non-regulated
activities acquired
with KeySpan
About non-regulated businesses and
other
Our non-regulated businesses and other operations are
located principally in the UK. For reporting purposes, they
are not treated as a segment, but are instead reported within
other activities.
This section should be read in conjunction with the rest of
this Operating and Financial Review, in particular our vision,
strategy and objectives, business drivers and risks and
external and re
g
ulatory environments, set out on pa
g
es 15 to
19.
Principal operations
Metering
National Grid Metering and OnStream provide
installation, maintenance and meter reading
services to gas and electricity suppliers in the
regulated and unregulated markets respectively.
Our metering businesses provide services on
behalf of gas suppliers for an asset base of
approximately 20 million domestic, industrial and
commercial meters.
Grain LNG
National Grid Grain LNG is the first new LNG
import terminal constructed in the UK for some
30 years, involving planned investment of
a
pp
roximatel
y
£830 million for Phases I, II and III.
In addition to our non-regulated businesses above, other
activities comprise the following other operations and
corporate activities.
UK Property
National Grid Property is responsible for managing
all our major occupied properties in the UK, and
for the management, clean up and disposal of
surplus properties, largely comprising former gas
works.
BritNed
BritNed is a joint venture between National Grid
and TenneT, the Dutch transmission system
operator, to build and operate a 260 kilometre
1,000 MW subsea electricity link between the
Netherlands and the UK.
US
non-regulated
businesses
Includes LNG storage, LNG road transportation,
unregulated transmission pipelines, West Virginia
gas fields and home energy service activities that
were ac
q
uired as
p
art of the Ke
y
S
p
an ac
q
uisition.
xoserve
xoserve delivers transportation transactional
services on behalf of all the major gas network
transportation companies in Great Britain,
includin
g
National Grid.
Fulcrum
Fulcrum is the leading provider of gas connections
and associated design services operating across
the whole of the mainland UK. As an independent
gas transporter, Fulcrum owns and operates gas
distribution networks. Fulcrum also operates as an
installer of electricity and water distribution
infrastructure.
Corporate
activities
Corporate activities comprise central overheads,
insurance and expenditure incurred on business
development.