National Grid is an international electricity and gas company and one of the largest investor-owned energy companies in the world. National Grid owns the high-voltage electricity transmission system in England and Wales and operates the system across Great Britain. In addition, National Grid owns and operates the high pressure gas transmission system in Great Britain with local distribution networks delivering gas to around 11 million consumers. In the North Eastern United States, National Grid connects more than seven million gas and electric customers to vital energy sources, which are essential for our modern lifestyles. National Grid is headquartered in London, England.
CEO: Steven Holliday Revenues: $24.76 billion (2013) Employees: 25,224 (2013)
Climate and Energy Targets
- National Grid’s climate change strategy has a target of reducing GHG emissions from processes, operations and offices by 80 percent by 2050, with an interim target of 45 per cent by 2020. As of 2011, National Grid has achieved a 51 percent reduction in Scope 1 and 2 emissions compared with a 1990 baseline. This represents a 4 percent increase against the baseline compared with their 2009-2010 performance.
- Key GHG emission areas for National Grid to address include methane leakage and venting from its gas networks. National Grid has a major ongoing program to replace old cast iron pipes with modern polyethylene pipe to reduce leakage from its UK and US distribution systems.
- National Grid is also seeking to reduce emissions from its own energy use. It is seeking to procure more of the electricity it uses from renewable sources in the future, as well as implementing better energy efficiency measures.
- Two key elements of National Grid’s Climate Change Initiative are also: putting in place carbon budgets within each Line of Business to further reduce greenhouse gas emissions; and using a Shadow Price of Carbon (SPC) in all the company’s economic decisions.
Did You Know?
“Climate change is the biggest challenge facing us all. Energy companies have a central role in meeting this challenge, and making the significant investment needed to support the move to a low carbon economy. They are keen to make the transition, and apply their knowledge, skills and investment to the task.” Steve Holliday, Chief Executive, National Grid plc
National Grid and the Energy Technologies Institute (ETI) intend to conduct the UK’s first drilling assessment of a saline formation site for the storage of carbon dioxide, at a site 70km off Flamborough Head in Yorkshire.
The multi million pound project represents a major step forward in the creation of a carbon capture and storage industry in the UK for multiple power stations and industrial sites, to store their carbon dioxide rather than release into the atmosphere. Read more about the project HERE
National Grid Corporate Website
National Grid Corporate Responsibility Website
National Grid Climate Policy Brief