SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
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FORM 11-K
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ANNUAL REPORT
PURSUANT TO SECTION 15(d)OF THE
SECURITIES EXCHANGE ACT OF 1934
For Fiscal Year Ended December 31, 2003
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Commission File Number 1-14958
National Grid USA Companies' Incentive Thrift Plan I
National Grid USA
25 Research Drive
Westborough, MA 01582
| National Grid Transco plc |
| 1-3 Strand |
| London |
| WC2N 5EH |
| ENGLAND |
REQUIRED INFORMATION
The financial statements required by Form 11-K are filed as exhibits and incorporated herein by reference
EXHIBITS
99.1 Financial statements of National Grid USA Companies' Incentive Thrift Plan I, filed under cover of Form SE
99.2 Consent of PricewaterhouseCoopers LLP, independent registered public accounting firm
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the National Grid USA Servcie Company, Inc. Benefits Committee (the Plan Administrator for the National Grid USA Companies' Incentive Thrift Plan I) has duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.
NATIONAL GRID USA COMPANIES' INCENTIVE THRIFT PLAN I
s:\John G. Cochrane
By__________________________________
John G. Cochrane, Chairman
National Grid USA Service Company, Inc.
Benefits Committee
Date: June 28, 2004
EXHIBIT INDEX
| Exhibit | Description | Page |
| Exhibit 99.1 | Financial Statements of National Grid USA Companies' Incentive Thrift Plan I | Filed under cover of Form SE |
| Exhibit 99.2 | Consent of PricewaterhouseCoopers LLP, independent registered public accounting firm | Filed herewith |
CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
We hereby consent to the incorporation by reference in the Registration Statement on Form S-8 (File No. 333-33094) of National Grid Group plc of our report dated May 14, 2004 relating to the financial statements of the National Grid USA Companies' Incentive Thrift Plan I, which appears in this Form 11-K.
s/PricewaterhouseCoopers LLP
Boston, Massachusetts
June 28, 2004
