National Grid’s return on equity in its UK business rose slightly in 2014/15, up to 13.7% from 12.7% the previous year.  
The company said lower debt payments, better performance from its interconnector with France and favourable legal settlements helped offset the lower cost of debt allowance in place for the price control period. Incentives awarded under the RIIO price control contributed 270 basis points to the return, up from 180 in 2013/14, and 90bp came from additional allowances.