National Grid PLC has issued a pre-close update ahead of announcing its results for the year ended 31 March 2024. The company expects its Underlying EPS for 2023/24 to be in line with the prior year, at actual exchange rates and before the reporting change noted below. The UK Government's introduction of 'full expensing' tax relief for qualifying capital expenditure in the 2023 Spring budget, which became permanent in November 2023, will lead to a reporting change in the company's Underlying Earnings and Underlying EPS. This change is expected to increase the Underlying EPS by around 8 pence per share. Further details will be provided in the 2023/24 Full Year results.