National Grid Electricity Transmission Bond Yields (GBP)
Fitted spot curve as of 2026-09-25
https://bondscovery.com/yield-curve/gbp-corporate-utilities-power-united-kingdom-national-grid-electricity-transmission
National Grid Electricity Transmission Bond Yields (GBP) as of 2026-09-25: 10Y at 6.46%, fitted curve 9M–15Y (5.00%–6.54%), 7 bonds. Live chart, constituents and forward rates on bondScovery.
| Maturity | Fitted yield | Forward rate |
|---|---|---|
| 9M | 5.00% | — |
| 2Y | 5.38% | 5.67% |
| 4Y | 5.87% | 6.54% |
| 8Y | 6.37% | 7.14% |
| 10Y | 6.46% | 7.11% |
| 15Y | 6.54% | 6.90% |
2Y, 10Y and the 10Y−2Y spread over time
The 2-year yield is 5.38% and the 10-year 6.46%, a 10Y−2Y spread of +108 bp — positively sloped — as of 2026-09-25. The chart and table below track how they have moved.
Fitted 2Y and 10Y yields and their spread, sampled one build date per month. See all inverted curves today →
| Tenor | Latest2026-09-25 | 1m ago2026-08-26 | 2m ago2026-07-27 | 3m ago2026-06-26 | 4m ago2026-05-28 | 5m ago2026-04-28 | 6m ago2026-03-30 |
|---|---|---|---|---|---|---|---|
| 2Y | 5.38% | 5.22% | 5.24% | 4.97% | 5.11% | 5.09% | 5.21% |
| 10Y | 6.46% | 6.18% | 6.15% | 5.83% | 5.95% | 5.76% | — |
| 10Y − 2Y | +108 bp | +96 bp | +92 bp | +86 bp | +84 bp | +68 bp | — |
Bonds in this curve
The 8 bonds behind this curve. Greyed rows carry an older quote.
| Issuer | Yield | Maturity | Coupon | ISIN |
|---|---|---|---|---|
| National Grid Electricity Transmission | 4.85% | 2027-06-08 | 4.00% | XS0789331948 |
| National Grid Electricity Transmission | 5.41% | 2028-07-07 | 1.12% | XS2200513153 |
| National Grid Electricity Transmission | 5.41% | 2028-07-27 | 6.50% | XS0132735373 |
| National Grid Electricity Transmission | 5.94% | 2031-01-13 | 7.38% | XS0407912053 |
| National Grid Electricity Transmission | 6.15% | 2035-02-06 | 2.75% | XS1884008928 |
| National Grid Electricity Transmission | 6.55% | 2038-09-16 | 2.00% | XS2051734981 |
| National Grid Electricity Transmission | 6.06% | 2040-04-17 | 2.00% | XS2157487237 |
| National Grid Electricity Transmission | 6.55% | 2043-01-18 | 5.27% | XS2577139111 |