National Grid 2016 Annual Report Download - page 16
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Our business model
How we generate long-term value
Our business
Our strategy is to be a recognised leader
in the development and operation of safe,
reliable and sustainable energy infrastructure,
to meet the needs of our customers and
communities and to generate value for
our investors.
We own and operate gas and electricity
transmission and distribution infrastructure
in the UK and US. Our principal operations are:
• UK Electricity Transmission
• UK Gas Transmission
• UK Gas Distribution
• US Regulated
• Other activities (such as Grain LNG,
Interconnectors and Metering)
We aim to maintain a clear and consistent
strategy over the long term to provide stable
returns to our investors and consistent levels
of service to our customers and communities.
Our transmission and distribution businesses
operate as regulated monopolies. Regulators
safeguard customers’ interests by setting
the level of charges we are allowed to pass
on and the standards of performance we
must achieve.
In the UK, we have one regulator for our
businesses: Ofgem. In the US, for the areas
in which we operate, we are regulated by
the relevant state regulators and FERC.
Our value proposition
We are a long-term, asset-based
business. Our operations are
regulated, which means we
create value for our stakeholders
through predictable revenue
streams and cash flows.
These cash flows are then
reinvested to provide future
growth, or returned to
shareholders.
The foundations of
our business model
Our people, being a responsible
business, and encouraging
innovation are at the heart of our
business model and are reflected
in our strategy.
Our people
Our business is built on our
people. We work hard to make
sure that we keep them as safe
as possible as well as providing
an inclusive culture and
encouraging development.
Being a responsible business
Doing the right thing is a
responsibility we take seriously.
Being a responsible and
sustainable business is
fundamental to the way we
work and how we manage our
impact on the communities in
which we operate.
Innovation
Thinking differently and
challenging the norms allow
our people to develop innovative
and more efficient ways of
delivering our services and
maintaining our networks.
Principal operations
pages 31–43
14 National Grid Annual Report and Accounts 2015/16 Strategic Report