Ofgem Statements

National Grid Transco PLC
18 November 2003

18 November 2003


                                Ofgem Statements
           Price Control Reviews. Regional Gas Distribution Networks



National Grid Transco welcomes both of today's statements from Ofgem. The first
confirms the alignment of timing for electricity and gas transmission price
controls. The second commits significant time and resources by Ofgem to reaching
decisions on the potential separation and sale of regional gas distribution
networks, confirmed its belief that there would be customer benefits from this
process and its aim to reach decisions in April next year.

Roger Urwin, Group CEO said, 'We welcome Ofgem's statements. Having integrated
our gas and electric transmission operations, aligning the timing of price
controls is helpful to us. In parallel, Ofgem's statement on regional gas
distribution networks gives a clear timetable for our work with them on what we
are confident would be a consumer benefiting initiative. Ofgem has a duty to
ensure there will be customer benefits from the potential sale of any of our
networks. We share Ofgem's view that such benefits would arise and the timetable
for decision making is good news.'

Enquiries:
Investors
Marcy Reed                              [phone]                      [phone](m)
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Louise Clamp                            [phone]                      [phone](m)

Media
Clive Hawkins                           [phone]
Gillian Home                            [phone]

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Citigate Dewe Rogerson                  [phone]
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