National Grid's energy pricing boost

National Grid has said it is set to make a "strong start" under the new pricing regime which it attacked a year ago as "lacking the essential investments to provide safe, reliable networks".

The energy group had hit out at Ofgem's plans for a £23bn infrastructure upgrade. But its chief executive, Steve Holliday, said: "We are positioned to make a strong start." Pre-tax profits rose 6 per cent to £2.7bn in the year to April.