National Grid to Separate Electricity Operator System into Independent Company
January 12 2017 - 3:14AM
Dow Jones News
By Ian Walker
LONDON--National Grid PLC (NG.LN) plans to separate its
electricity operator system into a new, independent, wholly owned
company by April 2019, it said Thursday.
Under proposals, which are subject to consultation, 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.
Ofgem, the U.K. energy regulator, said the new company would
have its own license, separate staff and offices 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 added.
The plan is designed to help keep household bills down by
working to ensure and enable more competition, coordination and
innovation across the system.
"We believe National Grid is best placed to deliver the role of
system operator, especially during a time when the energy landscape
is changing rapidly," National Grid Chief Executive John Pettigrew
said.
"We share the same priorities towards keeping customer bills
down, increasing certainty, enabling greener energy, and security
of supply. We will be working closely with key stakeholders to
achieve these objectives while further evolving the independence of
the system operator role within National Grid."
Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749
(END) Dow Jones Newswires
January 12, 2017 02:59 ET (07:59 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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