Gas and electricity giant National Grid has said that they are on track to invest £3.5 billion into the company.

The announcement comes despite no significant change in the company’s financial position in the last four months and the selling of US based energy distribution units for $309 million. National Grid have invested heavily in the creation of a UK Gas Distribution Front Office systems, which are nearing completion, and are expected to deliver increased cost savings.

Chief Executive Steve Holliday, said: “We are maintaining our positive outlook for 2012/13, reflecting the expected delivery of another year of solid operating and financial performance."