Sharesave 2024/25
Our Sharesave Plan is a savings-related scheme available to all UK colleagues. At the end of the savings period, you have the flexibility to either buy National Grid plc shares at a discounted price, or simply have all of your savings and tax-free bonus returned to you.
You can choose to save between £5 and £500 per month from your salary for three and/or five years. Savings are taken straight from your net pay each month. At the end of your savings period, you’ll receive a tax-free bonus. Find out more in the FAQ section, or use the SAYE Calculator to see what your bonus might be.
Option Price
743p
You have the choice to join both the three and five year Plans, as long as your total savings across all of your Sharesave Plans do not exceed £500 per month.
At the end of the three and/or five year savings period (also known as the maturity date) you can use your savings and tax-free bonus to buy National Grid plc shares at a 20% discounted price (also known as the Option Price).
The Option Price is set at the time of the Sharesave invitation. Alternatively at the end of your savings period, you can also decide not to buy any shares at all and simply take back all of your savings and tax-free bonus.
Four steps to save with Sharesave
1.
You decide how much to save from £5 up to £500 each month
2.
We will deduct this amount from your monthly net pay
3.
You save for three and/or five years and then receive a tax-free bonus (which is interest that will be paid to you at the end of the savings period)
4.
At the end of the savings period you can choose to buy National Grid plc shares at the Option Price using your savings and tax-free bonus or receive your savings and tax-free bonus back to spend as you wish
How your savings can build up
Saving from £5 to £500 a month
Find out more
Join online
Join online now (logging in through aNational Grid plc account) Join online now (logging in elsewhere)
or join by phone
0371 384 2014* (automated service)
At the end of the call, you will receive a reference number which you should keep until you get your Option Certificate by email.
Key dates
| 20 December 2024 | Applications open |
|---|---|
| 6 January 2025 | Application deadline (UK time) - Online by 11:59pm - Phone by 11:59pm |
| 13 January 2025 | Options granted |
| March 2025 | First deductions taken from pay |
| 1 April 2025 | Savings period start date |
| 1 April 2028 – three year Plan |
Savings period ends - after this date you can choose to buy shares at the Option Price or receive your savings and tax-free bonus back (As long as you have not missed any payments) |
| 1 April 2030 – five year Plan |
after this date you can choose to buy shares at the Option Price or receive your savings and tax-free bonus back (As long as you have not missed any payments) |
Take a look at the frequently asked questions, they could help you make your decision
View FAQsDo you need more information
If you would like more information or are having difficulties with the application process, please contact the EQ Employee Helpline on +44 (0)371 384 2014*
- Calls to 03 numbers cost no more than a national rate call to 01 or 02 numbers. Lines are open 8:30am to 5:30pm (UK time), Monday to Friday (excluding public holidays in England and Wales).
You now have four choices around what to do with your savings
Choice
one
Buy National Grid plc shares at the Option Price of 725.40p and keep them electronically in the CSN.
Find out more CSN Service
Choice
two
Buy National Grid plc shares at the Option Price of 725.40p and sell all of the shares through the Equiniti Financial Services Limited Share Sale Service.
Find out more Dealing Service
Choice
three
Buy National Grid plc shares at the Option Price of 725.40p and transfer them into an EQi Flexible Individual Savings Account (ISA).
Find out more EQi ISA
Choice
four
Do not buy National Grid plc shares at the Option Price of 725.40p and instead have your savings returned to you.
Find out more Invisible
If you make no choice...
If you do not take any action by 30 September 2025 (or within six months of your Maturity Date, if you have missed one or more payments) you won’t be able to buy National Grid plc shares at the Option Price of 725.40p. Your option will lapse and your savings will be returned to your salaried bank account.
How to make your choice
You can make your choice via the Employee Share Plans (ESP) Portal.
If you haven’t registered yet, you will need to register for the ESP Portal by selecting ‘Register’ on the home page and follow the on-screen instructions. You will need to enter your last name, employee ID (available on your payslip) and date of birth. An activation code will be sent either to your work email address if provided at registration, or by post to your home address if you used your personal email address at registration.
Once logged into the ESP Portal, you can make your choice by clicking on ‘Manage my Sharesave maturity’ in the ‘I want to…’ section. As well as seeing how much you have saved over the three year period, and when your Sharesave Plan will mature, you can also give an instruction on what you want to do.
Make your choice
Key dates
| Instructions received by 6.00PM UK time | Buy and Keep Shares/Sale of shares normally processed | Shares transferred to Nominee Service | Shares transferred to ISA |
|---|---|---|---|
| 20 March 2025* | 1 April 2025 | 2 April 2025 | 2 April 2025* |
| 27 March 2025 | 9 April 2025 | 10 April 2025 | 10 April 2025 |
| 7 April 2025 | 16 April 2025 | 17 April 2025 | 17 April 2025 |
| 14 April 2025 | 25 April 2025 | 28 April 2025 | 28 April 2025 |
| 21 April 2025 | 30 April 2025 | 1 May 2025 | 1 May 2025 |
| 28 April 2025 | 8 May 2025 | 9 May 2025 | 9 May 2025 |
In the case of missed payments, any instruction submitted after 30 September 2025 will be to keep shares in the Corporate Sponsored Nominee Service.
*Any requests to transfer shares into an ISA received by 20 March 2025 will be processed in the tax year 2024/25.
All subsequent dates follow a weekly pattern to buy shares at the Option Price. Please note that cut off dates may change around bank holidays and if you need confirmation of these please contact Equiniti Limited (‘EQ’) on the number below. If your Maturity Date is deferred because you’ve missed one or more payments, then the last opportunity to sell your shares or transfer them directly into an ISA is 30 September 2025 and you will need to submit your instruction by 30 September 2025. Any instruction after 30 September 2025 will be to keep shares in the Corporate Sponsored Nominee Service.
Repayment of savings
If you decide to take a repayment of your savings, please phone the EQ Employee Helpline on +44 (0) 371 384 2014 on or after the 1 April 2025.
Things to remember
- if the National Grid share price falls below 725.40p, your request to buy shares at the Option Price of 725.40p will not be actioned;
- if you select choice one, your shares will be held electronically in the Corporate Sponsored Nominee Service. You can then sell them at any time you wish, using a real-time dealing service (telephone and online) through Equiniti Financial Services Limited, subject to any restrictions under the National Grid Share Dealing Policy. Alternatively, you can either transfer your shares out of the Corporate Sponsored Nominee Service into a share custody account that you hold with your own bank or stockbroker, or receive a share certificate.
- you cannot set a share price at which you sell your shares if electing choice two. However, your shares will only be sold if a sale price of more than the Option Price of 725.40p can be achieved;
- charges apply when you sell shares under choice two and are applied automatically when your shares are sold. The fee for using the Equiniti Financial Services Limited Share Sale Service is shown on the Terms and Conditions for the Share Sale Service.
- the Share Sale Service and EQi ISA facilities are provided by Equiniti Financial Services Limited and can be applied for until 6.00pm on 30 September 2025;
- ISA custody fees also apply, these are detailed in the EQi ISA Maturity Option;
- you can donate to charity any money left in your savings account that cannot be used to buy a whole share; and
- rates shown were current at the time of publication of this document, however, these are subject to change. To ensure that you are aware of the current applicable rates prior to dealing, please ensure that you have read the latest Terms and Conditions
- no Income Tax or National Insurance Contribution (NIC) is payable when you buy shares at the Option Price;
- if you sell your shares, you may be liable to pay Capital Gains Tax if your total gain for the tax year exceeds the Capital Gains Tax exemption currently set at £3,000 in 2024/25 tax year;
- if you believe you may exceed the Capital Gains Tax exemption allowance you may wish to transfer some/all of your shares to an ISA, where you are exempt from this tax; and
- if you invest your money elsewhere, any interest you earn may be subject to Income Tax.
- if you choose to take a repayment you can still buy shares at the Option Price of 725.40p within six months of your Maturity Date. Please call the Equiniti Employee Helpline on +44 (0)371 384 2014 for more information on what to do. Lines are open 8.30am to 5.30pm (UK time), Monday to Friday (excluding public holidays in England and Wales).
Important Information: From 3 January 2018 a new European Union regulation was introduced known as the Market in Financial Instruments Directive II (MiFID II), that requires companies such as Equiniti Financial Services Limited to provide additional information to the Financial Conduct Authority (FCA) about share transactions. The aim of this regulation is to increase customer protection and prevent market abuse. Because of this regulation, Equiniti Limited ('EQ') may need to collect additional information from you when processing your transaction. Please take a moment to read the FAQs which explains more.
Frequently asked
questions
View FAQs
Contact details
If you have any further queries regarding the information contained in this microsite, please contact EQ, the Plan Administrator on +44 (0)371 384 2014
Lines are open 8:30am – 5.30pm (UK time), Monday to Friday (excluding public holidays in England and Wales).
Alternatively, please email your query to: nationalgridshareplans@equiniti.com
You now have four choices around what to do with your savings
Choice
one
Buy National Grid plc shares at the Option Price of 642.30p and keep them electronically in the CSN.
Find out more CSN Service
Choice
two
Buy National Grid plc shares at the Option Price of 642.30p and sell all of the shares through the Equiniti Financial Services Limited Share Sale Service.
Find out more Dealing Service
Choice
three
Buy National Grid plc shares at the Option Price of 642.30p and transfer them into an EQi Flexible Individual Savings Account (ISA).
Find out more EQi ISA
Choice
four
Do not buy National Grid plc shares at the Option Price of 642.30p and instead have your savings returned to you.
Find out more Invisible
If you make no choice...
If you do not take any action by 30 September 2025 (or within six months of your Maturity Date, if you have missed one or more payments) you won’t be able to buy National Grid plc shares at the Option Price of 642.30p. Your option will lapse and your savings will be sent back to your salaried bank account.
How to make your choice
You can make your choice via the Employee Share Plans (ESP) Portal.
If you haven’t already done so, you’ll need to register for the ESP Portal by selecting the ‘register’ link in the First Time Users box, then follow the five easy steps. An activation code will be sent either to your work email address, if provided at registration, or by post to your home address if you provided a personal email address.
Once you’re logged in, to complete your maturity election click on ‘Manage my Sharesave maturity’ link in the ‘I want to...’ section located on the top right of the home page.
Make your choice
Key dates
| Instructions received by 6.00PM UK time | Buy and Keep Shares/Sale of shares normally processed | Shares transferred to Nominee Service | Shares transferred to ISA |
|---|---|---|---|
| 20 March 2025* | 1 April 2025 | 2 April 2025 | 2 April 2025* |
| 27 March 2025 | 9 April 2025 | 10 April 2025 | 10 April 2025 |
| 7 April 2025 | 16 April 2025 | 17 April 2025 | 17 April 2025 |
| 14 April 2025 | 25 April 2025 | 28 April 2025 | 28 April 2025 |
| 21 April 2025 | 30 April 2025 | 1 May 2025 | 1 May 2025 |
| 28 April 2025 | 8 May 2025 | 9 May 2025 | 9 May 2025 |
In the case of missed payments, any instruction submitted after 30 September 2025 will be to keep shares in the Corporate Sponsored Nominee Service.
*Any requests to transfer shares into an ISA received by 20 March 2025 will be processed in the tax year 2024/25.
All subsequent dates follow a weekly pattern to buy shares at the Option Price. Please note that cut off dates may change around bank holidays and if you need confirmation of these please contact Equiniti Limited (‘EQ’) on the number below. If your Maturity Date is deferred because you’ve missed one or more payments, then the last opportunity to sell your shares or transfer them directly into an ISA is 30 September 2025 and you will need to submit your instruction by 30 September 2025. Any instruction after 30 September 2025 will be to keep shares in the Corporate Sponsored Nominee Service.
Repayment of savings
If you decide to take a repayment of your savings, please phone the EQ Employee Helpline on +44 (0) 371 384 2014 on or after the 1 April 2025.
Things to remember
- if the National Grid share price falls below 642.30p, your request to buy shares at the Option Price of 642.30p will not be actioned;
- if you select choice one, your shares will be held electronically in the Corporate Sponsored Nominee Service. You can then sell them at any time you wish, using a real-time dealing service (telephone and online) through Equiniti Financial Services Limited, subject to any restrictions under the National Grid Share Dealing Policy. Alternatively, you can either transfer your shares out of the Corporate Sponsored Nominee Service into a share custody account that you hold with your own bank or stockbroker, or receive a share certificate.
- you cannot set a share price at which you sell your shares if electing choice two. However, your shares will only be sold if a sale price of more than the Option Price of 642.30p can be achieved;
- charges apply when you sell shares under choice two and are applied automatically when your shares are sold. The fee for using the Equiniti Financial Services Limited Share Sale Service is shown on the Terms and Conditions for the Share Sale Service.
- the Share Sale Service and EQi ISA facilities are provided by Equiniti Financial Services Limited and can be applied for until 6.00pm on 30 September 2025;
- ISA custody fees also apply, these are detailed in the EQi ISA Maturity Option;
- you can donate to charity any money left in your savings account that cannot be used to buy a whole share; and
- rates shown were current at the time of publication of this document, however, these are subject to change. To ensure that you are aware of the current applicable rates prior to dealing, please ensure that you have read the latest Terms and Conditions
- no Income Tax or National Insurance Contribution (NIC) is payable when you buy shares at the Option Price;
- if you sell your shares, you may be liable to pay Capital Gains Tax if your total gain for the tax year exceeds the Capital Gains Tax exemption currently set at £3,000 for the 2024/25 tax year;
- if you believe you may exceed the Capital Gains Tax exemption allowance you may wish to transfer some/all of your shares to an ISA, where you are exempt from this tax; and
- if you invest your money elsewhere, any interest you earn may be subject to Income Tax.
- if you choose to take a repayment you can still buy shares at the Option Price of 725.40p within six months of your Maturity Date. Please call the Equiniti Employee Helpline on +44 (0)371 384 2014 for more information on what to do. Lines are open 8.30am to 5.30pm (UK time), Monday to Friday (excluding public holidays in England and Wales).
Important Information: From 3 January 2018 a new European Union regulation was introduced known as the Market in Financial Instruments Directive II (MiFID II), that requires companies such as Equiniti Financial Services Limited to provide additional information to the Financial Conduct Authority (FCA) about share transactions. The aim of this regulation is to increase customer protection and prevent market abuse. Because of this regulation, Equiniti Limited ('EQ') may need to collect additional information from you when processing your transaction. Please take a moment to read the FAQs which explains more.
Frequently asked
questions
View FAQs
Contact details
If you have any further queries regarding the information contained in this microsite, please contact EQ, the Plan Administrator on +44 (0)371 384 2014
Lines are open 8:30am – 5.30pm (UK time), Monday to Friday (excluding public holidays in England and Wales).
Alternatively, please email your query to: nationalgridshareplans@equiniti.com
