By Ali Lyon The National Grid has announced a £7bn capital raise as it seeks to double its capital spending over the next five years. It made the announcement alongside its full-year results, which showed a decline in operating profit and earnings per share for 2023. The company said the fully underwritten rights issue at 645p per share is a “defining moment” and would help fund a major round of capital investment in its energy infrastructure – ultimately expected to cost £60bn. The rights issue price is a 34.7 per cent discount to the theoretical ex-rights price based on the closing price on …