National Grid recently issued an Interim Management Statement for the period 1^st  April 2009 to 26^th July 2009. This confirmed that it’s current trading is in line with the Board’s expectations of a strong operational and financial performance in 2009/10 and that the company is in a sound financial position.  

The Statement said:

• National Grid continues to trade in line with our expectations of delivering a strong performance in 2009/10 across our businesses. In particular we expect a substantial improvement in profitability in our Electricity Distribution and Generation business and continued good momentum in our Transmission business.

• Our £3.4bn investment programme for the current year remains on target. The majority of this year’s £2.5bn funding requirement has already been raised, with funding for around a further £400m required in the current year. We are in a sound financial position, we expect our effective interest rate to continue to fall in the current year and on 20 July 2009 Moody’s reaffirmed our credit ratings and changed its outlook from negative to stable.