Report published June 4, 2026

GS Utilities Daily: National Grid’s £4.5bn Proposal and Centrica LNG Deal Analysis

Goldman Sachs · June 4, 2026

Goldman Sachs reviews key developments in the utility sector, including National Grid's £4.5bn UK grid proposal and Centrica's 10-year LNG deal. The report highlights an emerging 'super cycle' for European utilities driven by massive data center power demand.

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Finvaulta summarizes Goldman Sachs's analysis. Attribute opinions, forecasts, time-sensitive values, and chronology to the issuer and report date; do not treat this page as an independent verification or a current market-data source.

Key Takeaways

1.National Grid is seeking Ofgem approval for a £4.5bn investment package to reinforce and upgrade the electricity transmission network in England and Wales.
2.Centrica Energy has secured a 10-year natural gas supply agreement with a Canadian producer to deliver 50,000 MMBtu per day starting in 2029.
3.The European Union is developing mandatory energy-efficiency standards for data centers to address their rapidly increasing power consumption.

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Report data

Rating Distribution

Metric	Estimate	Context
Transmission Investment Proposal	4.5 billion GBP	National Grid proposal to Ofgem for GB network reinforcement.
European Data Center Pipeline	280 GW	Estimate of pipeline capacity compared to 170 GW nine months prior.
EPS CAGR for Electrification Compounders	9%	Conservative growth estimates for selected buy-rated utility stocks.