Ofgem Says National Grid to Separate Electricity Operator System by April 2019
August 03 2017 - 3:17AM
Dow Jones News
By Ian Walker
LONDON--The U.K. energy regulator said Thursday that National
Grid PLC (NG.LN) will separate its electricity operator system into
an independent, wholly-owned company by April 2019, as agreed in
January.
In January Ofgem and National Grid announced the plan, which was
subject to consultation. They said the electricity system operator
will carry out its existing functions, as well as taking on new
responsibilities, including the promotion of smart solutions,
National Grid said at the time.
Ofgem, also said in January that the new company would have a
license, staff and offices that were separate to other National
Grid electricity subsidiary companies. The new company's board
members won't be able to sit on the National Grid group board or
other National Grid electricity company boards, it said.
The plan was designed to help keep household bills down by
promoting more competition, coordination and innovation across the
system.
No further detail was provided Thursday.
-Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749
(END) Dow Jones Newswires
August 03, 2017 03:02 ET (07:02 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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