National Gas Annual Report and Accounts 2024/25
Introduction
Securing Britain’s energy. Unlocking a net zero future.
Welcome to our Annual Report. It describes how we have delivered our purpose – to lead a clean energy future for everyone – over the last year, maintaining our critical role in securing the energy needs of the country today, whilst developing the low carbon gas networks of the future, and enabling net zero at an affordable price for consumers.
Chair’s foreword
Ensuring the resilience of the country’s energy system
This has been a pivotal year for National Gas. Our shareholders, Macquarie Asset Management (MAM) and British Columbia Investment Management Corporation (BCI), underlined their commitment to the business by exercising the option to purchase the remaining 20% of the Group, taking their ownership of National Gas from 80% to 100%.
CEO message
Delivering a safe, secure, and reliable supply.
Change has always been a defining characteristic of the energy sector — and FY25 has been no different. Amid the uncertainty and shifts of the past year, we have remained steadfast — delivering a safe, secure and reliable supply of energy to the country, while continuing to play a leading role in helping to unlocking a net zero future.
Strategic direction
Securing energy for today and for the future.
Our strategy sets a clear direction for us to achieve our purpose. We will pursue opportunities across three molecules, growing our business into the transportation of green gases (biomethane and hydrogen) and carbon dioxide, alongside natural gas. By pursuing opportunities across all these molecules, we can navigate the uncertain pathways and timelines to achieving net zero in the UK, no matter which scenario, and which combination of technologies, plays out.
Innovation in motion
Innovation drives change
As we approach the end of the RIIO-T2 price control period, the innovation team has reflected on projects undertaken, stakeholder collaborations and the innovations implemented to date.
Being a responsible business
Delivering sustainable value for our people, communities and planet.
We are committed to ensuring sustainability is at the heart of our business. Environmental, social and governance (ESG) factors represent risks and opportunities that will influence our ability to deliver our purpose, whilst we aspire to lead the way in safety performance.