Andy Agg

Chief Financial Officer, National Grid

Search every verified Andy Agg interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. In July 2024, Andy Agg, Chief Financial Officer of National Grid, discussed the company's recently announced near-doubling of its capital expenditure program to £60 billion over five years. He stated that the largest increase is in the UK, with £23 billion allocated to electricity transmission, driven by the need to reconfigure and extend existing grid infrastructure to accommodate greater levels of renewables and variability in network flows. Agg noted that over 70 percent of the investment plan is already covered by rate cases or price controls, and he emphasized a practical and conservative approach to planning assumptions, citing the use of Development Consent Orders in the UK as a tested path. Agg also addressed the company's funding strategy, explaining that the £7 billion equity raise was positioned as part of a broader package to provide certainty of funding through 2031, including actions on dividends and continued use of the scrip. He highlighted challenges in the high-voltage direct current cable market, noting that supply chain capacity is nearly maxed out and that suppliers seek long-term volume signals to invest further. Agg expressed a desire to work with Ofgem and the incoming government to create a regulatory framework that supports longer-term commitments without exposing the company to undue risk.