National Grid 2008 Annual Report Download - page 707

BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 56668
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: 179
Description: EXHIBIT 15.1
0/5375.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/375/5*
BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 56668
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: 179 Description: EXHIBIT 15.1
0/5375.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/375/5*
Table of Contents
Annual Report and Accounts 2007/08
187
FSA
The UK Financial Services Authority, the
financial markets regulator, which includes
regulation of companies with listed
securities in the UK, includin
g
National Grid
and certain of its subsidiaries.
G
Great Britain England, Wales and Scotland.
GW
Gigawatt, being an amount of power equal
to 1 billion watts (10
9
watts).
GWh
Gigawatt hours, being an amount of energy
equal to delivering 1 billion watts of power
for one hour (equivalent to 3.6 million
j
oules
)
.
H
HSE
Health & Safety Executive, the main safety
regulator in the UK.
I
IAS or IFRS
An International Accounting Standard or
International Financial Reporting Standard,
as issued by the International Accounting
Standards Board. IFRS is also used as the
term to describe international generally
accepted accounting principles as a whole.
The Company’s consolidated financial
statements are prepared in accordance with
IFRS.
individual
financial
statements
Financial statements of a company on its
own, not including its subsidiaries or joint
ventures.
IFRIC
The International Financial Reporting
Interpretations Committee, which provides
guidance on how to apply accounting
standards.
J
joint venture
A company or other entity which is
controlled jointly with other parties.
K
KeySpan
KeySpan Corporation and its subsidiaries,
acquired by National Grid on 24
August 2007.
kV
Kilovolt, being an amount of electric force
equal to 1,000 volts.
kW
Kilowatts, being an amount of power equal
to 1,000 watts.
kWh Kilowatt hours, being an amount of energy
equal to delivering 1,000 watts of power for
a
p
eriod of one hour.
L
lifetime
allowance
The lifetime allowance is an overall ceiling
on the amount of UK tax privileged pension
savings that any one individual can draw.
LNG
Liquefied natural
g
as, bein
g
natural
g
as that
has been condensed into a liquid form,
typically at temperatures at or below -163°C
(-260°F).
lost time
injury
An incident arising out of National Grid’s
operations which leads to an injury where
the employee or contractor normally has
time off the following day or shift following
the incident. It relates to one specific
(acute) identifiable incident which arises as
a result of National Grid’s premises, plant or
activities, which was reported to the
supervisor at the time and was subject to
a
pp
ro
p
riate investi
g
ation.
M
m
3
A cubic metre.
mcm
Million standard cubic metres, equivalent to
approximately 35.3 million standard cubic
feet.
mcm/d Million standard cubic metres per day.
MW
Megawatts, being an amount of power
equal to 1 million watts.
MWh
Megawatt hours, being an amount of
energy equal to delivering 1 million watts of
power for a period of one hour.
N
net assets In financial statements, the amount by
which total assets exceeds total liabilities at
their carr
y
in
g
values.
New England
The states of Massachusetts, New
Hampshire, Vermont and Maine.
northeastern
US
The northeastern region of the US,
comprising the states of New York,
Massachusetts, Rhode Island, New
Hampshire, Maine, Vermont, Connecticut,
New Jersey and Pennsylvania.